Germany

Germany’s Uniper SE, the country’s largest utility and biggest importer of Russian natural gas, has asked for a government bailout after Gazprom PJSC reduced supplies from the Nord Stream 1 pipeline last month by 60%.   Uniper filed a formal application under Germany’s Energy Security Act (EnSiG) asking the government to take a stake in the…

The Group of Seven (G7) nations on Monday pursued new sanctions, notably including a potential price cap on Russian oil, in an effort to cripple the Kremlin’s vital energy complex and hamstring its ability to finance the war in Ukraine. The United States, as part of the three-day G7 gathering that started Sunday, also vowed…

After slightly cooling on an apparent price correction, European energy markets started the week with another leap upward as the European Union (EU) formalized its winter natural gas storage plan. The EU countries officially ratified a plan Monday to reach 80% of natural gas storage capacity available among the 27-country bloc by the winter heating…

Russian pipe gas flows to Europe fell again and will likely remain heavily curtailed over the coming weeks. This was a key driver behind price rises at the ICIS TTF which in turn lifted the ICIS East Asia Index (EAX) back to prices last seen in March.

Germany, The Netherlands, Germany and the UK have each reversed decisions to decrease oil and natural gas development in the wake of Russia’s war on Ukraine, supporting the need to reduce dependence on fossil fuel imports. Russia’s Gazprom PJSC in late May said it planned to discontinue supplying the Netherlands with gas after Dutch wholesaler…

News that the outage at Freeport LNG in the US will last longer than initially expected drove up the ICIS European TTF gas benchmark due to lower expected US exports. The ICIS East Asia Index (EAX) also climbed, underscoring its close ties to Europe’s prices.

Southwestern Energy Co. said Tuesday it has a deal with the North American subsidiary of Uniper SE to supply independently certified natural gas for domestic and international distribution. The agreement pairs Southwestern, the second largest U.S. natural gas producer, with an affiliate of Uniper, one of Germany’s largest energy supply companies, at a time when…

Poland was receiving more natural gas supplies from Germany on Thursday, while Bulgaria was receiving supplies from Turkey. The flows were making up for lost volumes from Gazprom PJSC, which cut off supplies to Poland and Bulgaria this week for failing to comply with Russia’s demand for a new payment method.

Management at global petrochemical giant Dow Chemical Co. said Thursday that manufacturing sites with access to shale natural gas resources enjoyed a favorable position during the first quarter of 2022. “Natural gas has been stubbornly high,” said CEO Jim Fitterland during Dow’s earnings call for the first quarter of 2022. “It was higher than last…