Connection

popular articles

Redelio Renewables LLC: 2.4 GW Energy Storage Ambition in the U.S.
RWE launches 8.5 MW solar power plant in Poland
Sceye validates solar-powered stratospheric flight
Eni obtains crucial approvals for gas projects in Indonesia
Sinopec cuts crude processing, impact on imports expected

Gas Market Volatility in Europe: An Analysis by Anders Opedal

The looming challenges of the European gas market, according to Anders Opedal.
Equinor

Please share:

Gas market volatility in Europe is a growing challenge, influenced by the closure of the Groningen gas field and increased dependence on Norwegian supplies. Against this backdrop, Equinor CEO Anders Opedal said on October 18 that he expects the European gas market to be “quite volatile” over the coming winter, despite high levels of storage. Speaking at the Energy Intelligence Forum, Opedal pointed out that Europe now has less ability to increase or reduce gas supply at will, depending on demand, than in the past.

The Consequences of the Closure of Groningen

The gigantic Groningen gas field, once a highly flexible source of gas production for Europe, has been shut down, while Norwegian production is set to be maximized over the winter. Norway has become Europe’s largest single gas supplier following the collapse of Russian supplies.

Norwegian Supply on the Front Line

Opedal also spoke of the continent’s dependence on global LNG (liquefied natural gas) markets and fluctuations in renewable energy production. He said the weather was “the most important element at the moment”, adding, “We know that gas storage is pretty good at the moment and that Europe is in a much better situation than last year, but there are a lot of variables around the gas market at the moment.”

Global competition for LNG

“At the moment, we don’t think we have enough resources to really build a pipeline, so we’re very pleased that the Norwegian government has set up more exploration zones, especially around existing infrastructure,” said Opedal.

Fluctuations in Renewable Energy

Norwegian authorities are currently evaluating license applications from 25 companies as part of an annual process known as Awards in Predefined Areas, with awards scheduled for early 2024. “The Norwegian government is looking at this pipeline project, we support it, but it will depend on the resource base to trigger such an initiative – we’re not there yet,” said Opedal. “Obviously, with new infrastructure in the Barents Sea, there is a cost and we have to find very cost-effective ways of doing it.”

Register free of charge for uninterrupted access.

Publicite

Latest news

The United States Grants Two Subsidies for Nuclear Projects in Bulgaria
Flamanville’s EPR: 20 Years of Challenges for a New Energy Hope
The EU Introduces a CO2 Label for Air Travel
Westinghouse signs a 20 billion CAD agreement for nuclear projects in Canada
National Grid: a record £35 billion investment to modernize the UK’s electricity grid

Recently published in

Shell and Petronas Accelerate Offshore Projects in Suriname

Shell plans to drill four offshore wells in 2025 in Block 65, while Petronas explores new gas resources in Block 52, highlighting Suriname's energy potential.
Woodside acquires 16.67% of the North West Shelf project in Australia through an asset exchange
Woodside exchanges key stakes with Chevron to strengthen its assets in Australia, consolidating gas projects while increasing carbon storage capacity.
en_1140969540
Woodside acquires 16.67% of the North West Shelf project in Australia through an asset exchange
Woodside exchanges key stakes with Chevron to strengthen its assets in Australia, consolidating gas projects while increasing carbon storage capacity.
en_1140969540
US Sanctions Prompt 33% Increase in Turkey’s LNG Imports
Sanctions against Gazprombank drive Turkey to boost LNG imports. December sees a 33% rise, highlighting a strategic move to secure energy supply for winter.
en_1140940540
US Sanctions Prompt 33% Increase in Turkey’s LNG Imports
Sanctions against Gazprombank drive Turkey to boost LNG imports. December sees a 33% rise, highlighting a strategic move to secure energy supply for winter.
en_1140940540
United States: 31% Predicted Energy Cost Increase with LNG Export Growth
The DOE warns of economic and climate risks associated with increased liquefied natural gas (LNG) exports, with an estimated 31% rise in wholesale prices and significant social impacts.
en_1140941540
United States: 31% Predicted Energy Cost Increase with LNG Export Growth
The DOE warns of economic and climate risks associated with increased liquefied natural gas (LNG) exports, with an estimated 31% rise in wholesale prices and significant social impacts.
en_1140941540

The Dominican Republic installs a 470 MW natural gas plant with Generadora San Felipe

The new 470 MW natural gas power plant built by Generadora San Felipe will strengthen the Dominican Republic’s energy capacity, addressing strategic energy needs while reducing emissions.
The EU claims readiness for winter with high gas reserves and reduced consumption
European Energy Commissioner Dan Jorgensen assures that the European Union is prepared to face energy challenges this winter, despite pressure on gas reserves.
en_1140920540
The EU claims readiness for winter with high gas reserves and reduced consumption
European Energy Commissioner Dan Jorgensen assures that the European Union is prepared to face energy challenges this winter, despite pressure on gas reserves.
en_1140920540
GAIL secures 12 LNG cargoes per year with Qatar Energy Trading for 2025-2030
India’s GAIL has finalized a supply deal for 12 annual LNG cargoes with Qatar Energy Trading. This five-year contract addresses growing volume needs in a global market under strain.
en_1140917540
GAIL secures 12 LNG cargoes per year with Qatar Energy Trading for 2025-2030
India’s GAIL has finalized a supply deal for 12 annual LNG cargoes with Qatar Energy Trading. This five-year contract addresses growing volume needs in a global market under strain.
en_1140917540
Bosnia Embarks on Energy Diversification with New Gas Interconnection
Under international pressure, Bosnia passes a key law to diversify its natural gas supply, reducing total dependence on Russian gas through a connection to Croatia’s LNG terminal.
en_1140890540
Bosnia Embarks on Energy Diversification with New Gas Interconnection
Under international pressure, Bosnia passes a key law to diversify its natural gas supply, reducing total dependence on Russian gas through a connection to Croatia’s LNG terminal.
en_1140890540

Plaquemines LNG: A Historic Milestone in U.S. Liquefied Natural Gas Production

Venture Global announces the start of production at its second terminal, Plaquemines LNG, in Louisiana. This project, one of the fastest to achieve this critical milestone, marks a major advancement for the U.S. and global energy markets.
OMV ends its historic gas contract with Gazprom
The Austrian group OMV has terminated its long-term contract with Gazprom, ending nearly six decades of energy dependency on Russia after a series of contractual violations.
en_1140869540
OMV ends its historic gas contract with Gazprom
The Austrian group OMV has terminated its long-term contract with Gazprom, ending nearly six decades of energy dependency on Russia after a series of contractual violations.
en_1140869540
Natural Gas Prices Expected to Rise by 34% This Winter, According to US EIA
The United States Energy Information Administration (EIA) forecasts a 34% increase in natural gas prices this winter, despite above-average stock levels and generally colder temperatures.
en_1140841540
Natural Gas Prices Expected to Rise by 34% This Winter, According to US EIA
The United States Energy Information Administration (EIA) forecasts a 34% increase in natural gas prices this winter, despite above-average stock levels and generally colder temperatures.
en_1140841540
Ukraine Strengthens Energy Resilience with €80 Million EBRD Loan
A project financed by the EBRD and supported by international grants aims to install 100 MW of decentralized energy capacity in Ukraine, responding to the damage caused by Russian attacks on the national electricity grid.
en_1140787540
Ukraine Strengthens Energy Resilience with €80 Million EBRD Loan
A project financed by the EBRD and supported by international grants aims to install 100 MW of decentralized energy capacity in Ukraine, responding to the damage caused by Russian attacks on the national electricity grid.
en_1140787540

Argus Introduces First Daily Price Indices for Greek Natural Gas

Argus Media revolutionizes the energy market by launching daily price indices for Greek natural gas, providing unprecedented transparency in a context of growing volatility in Europe.
Egypt: Increase in Fuel Oil Imports Amid High LNG Prices
Egypt is turning to fuel oil to meet its energy needs as liquefied natural gas (LNG) prices remain high. This optimization strategy reflects changes in domestic demand and global economic constraints.
en_1140771540
Egypt: Increase in Fuel Oil Imports Amid High LNG Prices
Egypt is turning to fuel oil to meet its energy needs as liquefied natural gas (LNG) prices remain high. This optimization strategy reflects changes in domestic demand and global economic constraints.
en_1140771540
Spain boosts gas imports to meet demand
Facing high gas demand and insufficient renewable production, Spain increases its French imports and storage withdrawals while competing with the UK for LNG shipments.
en_1140778540
Spain boosts gas imports to meet demand
Facing high gas demand and insufficient renewable production, Spain increases its French imports and storage withdrawals while competing with the UK for LNG shipments.
en_1140778540
Southern Star: A New Station to Meet Growing Natural Gas Demand in the Midwest
Faced with rising natural gas demand in Missouri and Kansas, Southern Star plans to build a 6,091-horsepower compression station to improve its transport capacity, addressing the needs of local markets and public utilities.
en_1140780540
Southern Star: A New Station to Meet Growing Natural Gas Demand in the Midwest
Faced with rising natural gas demand in Missouri and Kansas, Southern Star plans to build a 6,091-horsepower compression station to improve its transport capacity, addressing the needs of local markets and public utilities.
en_1140780540

Lithuania purchases an LNG terminal, strengthening its energy independence

Lithuania has finalized the purchase of a floating liquefied natural gas (LNG) terminal, named Independence, marking a decisive step in its strategy to reduce its historical dependence on Russian gas.
France and the Netherlands: Priority Destinations for U.S. LNG in November
In November, Europe received more than half of U.S. LNG shipments, a strategic shift driven by winter needs and the competitiveness of American volumes in a challenging global energy landscape.
en_1140721540
France and the Netherlands: Priority Destinations for U.S. LNG in November
In November, Europe received more than half of U.S. LNG shipments, a strategic shift driven by winter needs and the competitiveness of American volumes in a challenging global energy landscape.
en_1140721540
Norwegian gas exports to Europe increase by 2% in November
In November, Norwegian pipeline gas deliveries to Northwest Europe rose by 2% compared to October, reaching 9.8 billion cubic meters, while remaining slightly below last year’s levels.
en_1140728540
Norwegian gas exports to Europe increase by 2% in November
In November, Norwegian pipeline gas deliveries to Northwest Europe rose by 2% compared to October, reaching 9.8 billion cubic meters, while remaining slightly below last year’s levels.
en_1140728540
Algeria Banks on Hassi R’Mel to Maintain its Key Role in the Gas Market
Sonatrach is investing $2.3 billion to optimize the Hassi R'Mel gas field, aiming to sustain natural gas production and strengthen Algeria's energy position in Africa and Europe.
en_1140747540
Algeria Banks on Hassi R’Mel to Maintain its Key Role in the Gas Market
Sonatrach is investing $2.3 billion to optimize the Hassi R'Mel gas field, aiming to sustain natural gas production and strengthen Algeria's energy position in Africa and Europe.
en_1140747540

Nigeria-Morocco Gas Pipeline: Tenders to Begin in 2025

The Nigeria-Morocco gas pipeline project progresses with tenders planned for 2025. This strategic project aims to strengthen economic integration and energy supply in Africa and Europe.
Argentina: imminent auction to expand gas transportation capacity from Vaca Muerta
Argentina plans an auction to increase gas transportation capacity from Vaca Muerta. This $700 million project aims to reduce costly energy imports during winter.
en_1140711540
Argentina: imminent auction to expand gas transportation capacity from Vaca Muerta
Argentina plans an auction to increase gas transportation capacity from Vaca Muerta. This $700 million project aims to reduce costly energy imports during winter.
en_1140711540
U.S. LNG Exports: A Strategic Response to Asia’s Energy Growth
A Wood Mackenzie study reveals that U.S. liquefied natural gas (LNG) could play a strategic role in meeting Asia's energy demands, countering coal growth, and maintaining the economic competitiveness of emerging economies.
en_1140707540
U.S. LNG Exports: A Strategic Response to Asia’s Energy Growth
A Wood Mackenzie study reveals that U.S. liquefied natural gas (LNG) could play a strategic role in meeting Asia's energy demands, countering coal growth, and maintaining the economic competitiveness of emerging economies.
en_1140707540
Summit Midstream finalizes the acquisition of Tall Oak Midstream for $155 million
Summit Midstream Corporation announces the completion of the acquisition of Tall Oak Midstream for $155 million, strengthening its presence in the gas sector and balancing its energy portfolio.
en_1140706540
Summit Midstream finalizes the acquisition of Tall Oak Midstream for $155 million
Summit Midstream Corporation announces the completion of the acquisition of Tall Oak Midstream for $155 million, strengthening its presence in the gas sector and balancing its energy portfolio.
en_1140706540

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS