The geopolitical standoff between Russia and Ukraine has deepened turmoil in Europe’s natural gas market and laid bare its dependence on energy imports,
Estonia likely immune to Gazprom Germany pipeline maintenance tactics news.err.ee - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from news.err.ee Daily Mail and Mail on Sunday newspapers.
Energy beats politics for European business
May 6, 2021 10:50:am
Summary Energy researcher Andrei Belyi discusses with NGW the importance of gas in the energy transtition. Shown is the Christophe de Margerie LNG tanker, named after the CEO of Total who brought the French company into Novatek s scheme.
by: William Powell
As relations between Russia and the West deteriorate, Russia will attempt to widen cracks between US and Europe particularly where gas is concerned. For example, the French major Total is taking 10% stakes in the two transshipment terminals that the privately owned gas exporter Novatek is planning for its northern Russian LNG, a move that shows scant regard for any risk of western sanctions on Russia, according to gas markets expert Andrei Belyi, an Adjunct Professor at the University of Eastern Finland.
Uncertainty Overshadows Global Natural Gas Recovery as Winter Nears End
Global natural gas demand is expected to bounce back to pre-pandemic levels this year, but the recovery is likely to be uneven and growth could be weak even after demand soared amid a historic cold snap this winter.
“We opened the year with this very strong bull run in Asia, which I would say was rather short-lived if we look at the prices now and the months ahead,” said Gergely Molnar, an analyst at the International Energy Agency (IEA).
IEA expects global natural gas demand to grow 2.8% this year, or just above the 2020 decline level, according to the agency’s first ever quarterly gas report. Growth is largely expected to be driven by emerging markets in Asia, Molnar told NGI. Mature markets in North America and Europe will see less growth.