Control Risks’ Post

Today, the USAID Energy Security Project (ESP) Gas Team, together with the representatives of the Energy Community Secretariat, @Joint Research Centre of the European Commission, Naftogaz of Ukraine, Gas TSO of Ukraine, and Ukrtransgaz kicked off the second phase of Ukraine's Underground Gas Storages Reliability Assessment  Project (UGS reliability project).   The stress test scenarios of the project's first phase, completed in the end of summer 2023, helped Ukrainian counterparts gain European traders' trust in the high reliability and resilience of Ukraine's underground gas storage. The project results additionally confirmed the possibility of re-exporting gas stored in UTG's gas storage facilities in customs warehouse mode from Ukraine to the EU throughout this winter until the end of March 2024   Given the success of the project's first phase, the parties decided to continue the UGS reliability project. In practical terms, the project aims to further ensure that the Ukrainian underground gas storage and gas transmission system has sufficient capacity and is secure. In addition, the project will help Ukrainian partners to finally convince European traders of the high reliability and stability of Ukrainian underground gas storage facilities. #energysecurity #energesector #gas #gasindustry #traders #undergroundstorage #gasstorage #gastransmission #reliabilityassessment #usaid #internationaldevelopment #technicalassistance #standwithukraine

The two ministers discussed creating a gas hub in the Eurasian region in the SCO framework, the development of oil and gas fields. #Iran #Russia #Oil https://lnkd.in/g_tdJRzS

Europe has significantly reduced its dependence on Russian natural gas by turning to US liquefied natural gas (#LNG) as a primary alternative. This shift, primarily driven by political stability and the abundance of US gas, has positioned the US as a cornerstone in Europe's energy diversification strategy. However, the recent decision by the Biden administration to halt new LNG export permits raises concerns about the reliability of US gas supplies in the medium to long term. This move could potentially delay or derail future LNG projects, affecting Europe's energy security. The reliance on US LNG introduces risks associated with political decisions in Washington, the Atlantic hurricane season, and other external factors that could impact gas supplies. Despite the geopolitical and economic benefits, this dependence also carries the risk of giving the US outsized influence over Europe, potentially affecting energy prices and policy decisions. The situation underscores the broader challenges Europe faces in balancing energy security, political relationships, and the transition to greener energy solutions. In response, Europe is exploring long-term contracts and diversifying its energy sources, including investments in renewable energy and green technologies. However, the transition faces obstacles, including the recent surge in dependency on imported LNG and the slow progress in deploying alternative energy solutions. This scenario highlights the complexities of global energy markets and the intricate balance between securing energy supplies, managing geopolitical relationships, and advancing towards a more sustainable energy future. https://lnkd.in/g_XgfdDg

Hungary received more than 5.7 bcm of Russian gas via TurkStream this year — Szijjarto ST. PETERSBURG, October 10/ Hungary has already received more than 5.7 billion cubic meters of gas from Russia this year, which is more than in the entire last year, Hungarian Foreign Minister Peter Szijjarto told reporters on the sidelines of the St. Petersburg International Gas Forum. "This year the delivered quantity is already about 5.7 billion cubic meters through the Turkish Stream, which is more than in the entire last year. So, we are safe in terms of gas supplies," he said. Szijjarto added that the issue of Russian gas transit through Ukraine is not important for Hungary, because the country can ensure gas supplies via the TurkStream pipeline. Hungary still gets more than half of its gas from Russia. In October 2022, Hungary's MVM and Gazprom reached an agreement to increase supplies via the southern route through Turkey, while gas transportation via Ukraine began to decline. In 2022, 4.8 billion cubic meters of gas were delivered to Hungary via the TurkStream and its extension through Bulgaria and Serbia. As Szijjarto reported, this quantity increased to 5.6 billion cubic meters in 2023. #business #finance #financialservices

U.S. Natural Gas Prices Less Volatile During 2023 Compared to 2022: EIA. The average price of U.S. natural gas declined during 2023 compared to 2022 and became less volatile, according to a June 4 report published by the U.S. Energy Information Administration. Price volatility increased during 2022, following the Russian invasion of Ukraine and the cessation of Russian pipelined gas to Europe. The Russian invasion of Ukraine,...… The post U.S. Natural Gas Prices Less Volatile During 2023 Compared to 2022: EIA appeared first on EnerKnol. https://lnkd.in/gchMhuSp

Italy, one of Europe’s biggest natural gas markets, has started 2023 with a remarkably active energy diplomacy. 🟢 The #TransMed has an annual capacity of 33 billion cubic metres (bcm) and started commercial operation in 1983. 🟢 The #Greenstream gas pipeline connects Libya’s gas fields in the western part of the country (the Wafa onshore field and the Bahr Essalam offshore field) directly to Gela in Sicily. The Greenstream pipeline has an annual capacity of 8 bcm and started up in 2004. Recently, Libya’s government put forward the idea of doubling its capacity, despite its current low capacity utilization. The recent collapse of Russian gas supplies to Europe and changing international #energy market dynamics have renewed interest in this proposed new gas interconnection, which this time would be designed to transport blue or green hydrogen as well as #methane. However, the question remains as to whether there would there be adequate long-term gas supply and demand commitments to fill this potential new gas trade line and the proposed capacity expansions of existing lines from Algeria and Libya? These plans, if implemented, would potentially increase North Africa’s cross-border annual gas pipeline export capacity to Italy from over 40 bcm to 60 bcm, which would be the equivalent of 80 percent of Italy’s gas consumption or over 10 percent of total gas use in Europe in 2021. 👇👇👇 Follow Integrated Africa Power (IAP) for more updates Oxford Institute for Energy Studies Mostefa Ouki

Europe, long-reliant on Russian natural gas, has nearly severed its dependency on the Kremlin in less than two years. Its preferred replacement — gas from the US — is widely viewed as abundant, politically palatable and less likely to be choked off than pipelines from Siberia. It’s also growing riskier by the day. On Friday, the White House announced the polarizing decision to halt the approval of new export permits for liquefied natural gas, or LNG, amid a backlash from climate-minded voters. The pause, which won’t affect those plants already under construction or in operation, threatens to delay or even derail some of the massive projects expected to hit the market toward the end of the decade and beyond. By Anna Shiryaevskaya Ruth Liao and Stephen Stapczynski

Ankara, Turkey, is close to finalizing an agreement to transport natural gas from Turkmenistan, according to Turkish Minister of Energy and Natural Resources Alparslan Bayraktar. In a recent interview with Bloomberg, Bayraktar revealed that Turkey is exploring the possibility of utilizing Iran’s gas pipeline network for the transfer. Negotiations are reportedly in the final stages, with a potential final agreement reached during an upcoming visit to Turkmenistan. The proposed deal envisions transporting 1.5–2 billion cubic meters of Turkmen gas annually through Iran. Alternatively, existing pipelines in Azerbaijan could also be used to deliver the gas to Turkey, where it would then connect with the Trans-Anatolian Natural Gas Pipeline (TANAP). Read more at…https://lnkd.in/dYnnRnFU #EnergyAgreements #NaturalGasTransport #Turkmenistan #IranPipeline #TANAP

🚨 How Does Russia still supply Europe with Gas?🚨 As of 2023, about half of Russia’s natural gas exports to Europe still pass through Ukraine, while the other half is routed via the Turkstream pipeline under the Black Sea. • Ukraine’s Role: The Urengoy-Pomary-Uzhgorod pipeline remains a crucial route, delivering approximately 14.65 billion cubic meters of gas through the Sudzha point—this is half of Russia’s gas exports to Europe. • Transit Increase: Gas transit via Ukraine increased by 10.5% in the first half of 2023, reaching 8 bcm. • Key Destinations: Slovakia, Hungary, and Austria are the primary recipients of this gas. 🔗 The current transit agreement between Russia and Ukraine expires in 2024, with Ukraine stating it does not plan to extend or renegotiate this deal. https://lnkd.in/ei5iPzVy This development could have significant implications for Europe’s energy landscape in the coming years. Stay tuned! #Energy #Gas #Europe #Ukraine #Russia

The European Union (EU) targets a ban on Russian fuel imports by 2027. However, nearly half of Russia's pipeline gas supplies to Europe and Moldova are still passing through Ukraine, totaling 13.7 billion cubic meters (Bcm) in 2023. As the EU discusses the possibility of involving Azerbaijan in a future transit deal, the current five-year gas transit agreement between Russia and Ukraine is set to expire by the end of 2024, leading to concerns about the future flow of these gas volumes. Rystad Energy predicts that Russia's gas will need to be rerouted to Europe through alternative paths, requiring an additional 7.2 Bcm per year of liquefied natural gas (LNG) to replace the gas transiting Ukraine. Supply disruptions may occur sooner than initially expected, as indicated by the Austrian company OMV’s market warning in May. Dive into the details and read more in today's press release: https://lnkd.in/d3Vec9Hy #LNGmarkets #Gassupply #RystadEnergy