Friday, May 23, 2025

Ukraine News

Russia's Arctic LNG 2 Plant Shuts Down First Production Train In Absence of Tankers

© Adobe Stock/Mike Mareen

Russia's Arctic LNG 2 plant, currently under U.S.

Prices of gas in Europe are on the rise as temperatures increase.

The Dutch and British wholesale prices of gas were not much different on Friday morning, as the warmer temperatures reduced demand while supply from Norway increased. LSEG data shows that the benchmark Dutch front-month contract was 36.08 euros per Megawatt Hour (MWh), or $11.99/mmBtu at 0800 GMT. This is a decrease of 0.27 Euro. The Dutch July contract increased by 0.10 euros to 36.45 Euro/MWh. The British day-ahead contracts was up 0.20 cents at 86.00 pence/therm.

Orban, Orban: EU's plan to ban Russian imports of energy must be stopped

Viktor Orban, the Hungarian prime minister, told state radio that the European Union's plan of banning Russian energy imports should be stopped "by any means". EU executive announced earlier this month that the European Commission would propose next month legal measures to phase-out the EU's imports for all Russian gas, including liquefied gas, by the end 2027. The proposed ban has been opposed by Slovakia and Hungary who rely on Russian gas and oil supplies. We must stop the Ukrainians from trying to ban Russian gas in Europe. We must stop it at all costs.

Millions of Britons will see their energy bills drop as the price cap drops 7%

After Ofgem announced that its domestic price cap will fall by 7% in July to reflect lower wholesale prices, millions of British households can expect lower energy bills. The government is under pressure to ease the cost of living squeeze and this reduction comes as welcome news. Global wholesale energy prices have fallen. "While this is the primary cause, changes in supplier business costs also had an impact on falling energy prices," Ofgem stated in a press release.

Italy fully supports EU efforts in order to stop Russian gas imports before 2027

The Italian energy minister said to reporters that Rome fully supports the European Union's efforts to stop Russian gas imported into the EU by 2027. He added that any decision by Rome to increase LNG imports from America is up to private purchasers. The minister stated that Italy imported only a small amount of Russian gas last year, which was mostly exported to Austria. He added that the country is now independent from Moscow's supplies. Pichetto fratin…

IGU: Europe and Asia will compete for LNG cargoes before summer

The International Gas Union stated on Thursday that the competition for liquefied gas will increase this year as Europe continues to rely on the chilled fuel following the cessation of Russian gas supplies via Ukraine, and Asian buyers continue to seek cargoes in order to meet cooling requirements. The LNG fuel is seen by many as a transitional fuel to zero emissions. Prices could rise this year due to increased regional competition, especially as Europe will need to replenish its depleted gas storage after Russian gas supplies via Ukraine ended on January 1…

Freeport LNG Receives Approval to Restart Operations at Phase 3 Facilities

© Adobe Stock/Timon - stock.adobe.com

U.S.

Mitsui OSK To Asses EU Sanction Impact On Its LNG Vessels

© Adobe Stock/J_News_photo - stock.adobe.com

Japan's second-largest shipping company Mitsui O.S.K. Lines (MOL) said it is carefully assessing the impact on three of its liquefied natural gas vessels of new sanctions imposed by the European Union against Russia."We will continue to fully cooperate with the relevant authorities, including the European Union and the Japanese government, and remain committed to complying with all applicable laws, regulations, and international rules," said a company spokesperson on Wednesday."We will take appropriate measures as necessary…

OPEC+ targets US shale again with output increases

Saudi Arabia and Russia, the group's leaders, are also pushing a secondary objective behind OPEC+’s plan to increase oil production and punish overproducing allies: taking on U.S. shale to win back market shares from the United States. OPEC’s last price war against U.S. producers ten years ago failed, as technological and drilling breakthroughs allowed U.S. shale firms to cut costs, lower prices, and take market share away from the 12-member groups in the years that followed. The U.S. is more susceptible to price wars now.

Pertamina, an Indonesian company, has imported Russian crude oil since last year

The CEO of Pertamina’s refinery division said that Indonesia’s Pertamina imports Russian crude to its refineries since last year. Taufik Adidiyawarman is the CEO of Kilang Pertamina International, a refinery unit. He spoke to reporters at the Indonesian Petroleum Association Conference. He said that the sanctions imposed by the United States on Russian crude as a result if the Russia-Ukraine conflict still apply. He said that a government investigation into allegations of corruption in oil imports from 2018 to 2023 may limit the ability of trading companies…

Russian Arctic LNG 2 Starts Second Production Train

© Adobe Stock/pvl - stock.adobe.com

Russia's Arctic LNG 2 plant, which is subject to U.S. sanctions, has started production at its second train even after it has been unable to sell liquefied natural gas from a first train, a source familiar with the matter told Reuters.Russian energy company Novatek declined to comment.It owns 60% in the plant located on the Gydan peninsula that juts into the Kara Sea and had been set to become one of Russia's largest LNG plants with an eventual output of 19.8 million metric tons per year at three trains.Novatek began production at Arctic LNG in December 2023…

Prices of gas in Europe rise due to tighter supply

Due to maintenance issues and limited supply, wholesale gas prices in the Netherlands and Britain rose on Tuesday morning. LSEG data shows that the benchmark Dutch front-month contract rose 0.99 euros to 36.19 Euro per megawatt hour at 0830 GMT. The British contract for the month of June increased by 2.20 pence, to 86.61 cents per therm. Oleh Scrynyk, LSEG analyst, predicted that both British and Dutch gas prices would be on the rise, due to tight supply, maintenance risks and a forecast of colder temperatures.

Germany: Europeans should pressurize Russia with sanctions

German Chancellor Friedrich Merz announced late Monday that European leaders had agreed to increase the pressure on Russia via sanctions after U.S. president Donald Trump briefed on his conversation with Russian President Vladimir Putin. On Monday, the European Union leaders, France, Italy and Germany, as well as the Ukrainian President Volodymyr Zelenskiy, met with Russian President Vladimir Putin and Ukraine's Volodymyr Zalenskiy in an effort to bring about a solution. In Ukraine, the end is near.

TASS: Gazprom is working on a new gas contract with Serbia.

The Kremlin's energy giant Gazprom has been working on a gas supply contract for Serbia, according to TASS. Alexander Novak, Russia's Deputy Premier was quoted as saying this on Monday. Serbia, which has historically had close ties with Moscow, but aspires also to join the European Union is heavily dependent on Russia for its natural gas. It has been trying to renew the contract that expired in March. Since 2021, Russian gas is supplied to Serbia via the TurkStream pipeline through the Black Sea.

EUROPE GAS - Prices rise due to colder weather and maintenance in Norway

Dutch and British wholesale prices of gas rose slightly Monday morning but continued to trade within a narrow range. This was due to a forecast for cooler weather and a lower Norwegian flow to continental Europe because of maintenance at the Kollsnes processing plant. LSEG data shows that the benchmark Dutch front-month contract rose 0.26 euros to 35.40 Euro per megawatt hour or $11.50/mmBtu at 0848 GMT. The British day-ahead contracts was up 4.55 pennies at 84.55 cents/therm.

The region has seen a decline in renewable output

German and French spot rates were not traded on Friday morning, but the falling supply of renewables is expected to exceed the decline in demand for Monday's prices. LSEG data shows that the German and French baseload power contracts for Monday were not traded by 1111 GMT. LSEG analyst Florine Engl stated that the residual load will increase on Monday in all regions except Austria. The nuclear availability is also expected to decrease in France. LSEG data indicated that German wind power production was expected to drop by 5.9 gigawatts to 8.2 GW Monday.

How can the EU ban Russian Gas?

Next month, the European Commission will propose legal measures that will phase out EU gas imports from Russia by 2027 and prohibit spot contracts with Russia before the end this year. This is how it could work. How will the EU ban Russian gas? Legally, sanctions are the easiest way for the EU's to prohibit Russian gas and liquefied imports. They require the unanimous approval of all 27 EU member states. Hungary and Slovakia have pledged to block any gas sanctions, as they want to keep close political ties to Russia.

Bloomberg reports that Mercuria is betting big on aluminum in a peace agreement with Russia.

Bloomberg News reported Thursday that Mercuria Energy Group had built up a large aluminum position at the London Metal Exchange. The company was betting on a tightening of the market if sanctions were eased against Moscow. Bloomberg reported that Mercuria has contracts for more than 1 million tons aluminum, which is several times what's currently available on the LME. This, Bloomberg noted, had helped to drive a rapid tightening of the market in recent days.

Analyst ExPro states that Ukraine's gas reserves have dropped to their lowest level for 11 years.

ExPro, an analytical company, said that the gas volumes in Ukrainian storage sites are at their lowest level for at least 11 year. They stood at 6 billion cubic meters (bcm), as of Wednesday. After Russian missiles damaged the production facilities to the east of Ukraine, Ukraine was forced to increase gas imports and withdraw more gas from storage this winter and in the spring. ExPro reported that the storage facilities with a capacity greater than 30 bcm were less than 20 percent full.

The price of EUROPE Gas is rising on the back of cooler temperatures in advance of Russia-Ukraine discussions

The Dutch and British gas price rose slightly on Thursday morning, as demand increased due to the cooler temperatures and market anticipation of news about Ukraine-Russian peace talks. LSEG data shows that the benchmark Dutch front-month contract rose 0.46 euros to 35.21 Euro per megawatt hour or $11.55/mmBtu at 0818 GMT. The Dutch July contract increased by 0.43 euros to 35.33 Euro/MWh. The British day-ahead contracts was up 0.03 pence to 79.03p/therm.

Marine Technology ENews subscription

World Energy News is the global authority on the international energy industry, delivered to your Email two times per week.

Subscribe to World Energy News Alerts.