Wrap up of the last week in the EU Gas Market

9. October, 2013 News No comments
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The week started with news from the UK, Ukraine, Romania and Russia. Eastern Europe, Russia and the UK resulted in being the main players of the week, along with Italy and Germany.

  • In Russia, Rosneft kept on its growth trend, ivesting in LNG plant in a Russia Far East project with ExxonMobil. Later last week, the company also clinched an agreement with Sweden’s Lundin Petroleum.Gazprom proves to be still a pivotal player of Russian energy policies, addressing the issues of bilateral cooperation in the gas sector between Moscow and Kiev.

EU Competition Commissioner Joaquin Almunia said that EU regulators are prepared to initiate formal legal proceedings against Gazprom, over allegation that the company abused its dominant position in the gas market.

  • In UK last week cooled down the expectations for a British shale gas boom.
  • In Eastern Europe shale gas is peaking up and regional markets are on their way to a consolidation.
    Ukraine has been the rising star of the week. The country keeps swinging between Moscow and Brussels – a free trade agreement with the EU could come soon – but Kiev continues on it path to foster a national gas revolution.
  • Italy and Germany: Eni had a difficult start of the week, with gas flows from Libya into Italy halved on Monday from normal values. Protesters in North Africa affected the Greenstream pipeline to Sicily.Germany’s EWE aims to double the number of its natural gas consumers, taking advantage of the expanding retail sector in Turkey.

The coming week’s headlines could be dominated by France and Ukraine.

 

Find more: Week 40 Overview

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Iwona Deren

Currently working towards M. Sc. degree in Petroleum Engineering at the AGH University of Science and Technology in Kraków, Poland.

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