Natural gas
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Economy
EU may need to cut winter gas demand by 7% as storage hits record low
The EU could have to curb gas consumption by 7% this winter, the Institute for Energy Economics and Financial Analysis warned on Friday, with stocks at their lowest for the time of year on record and the Iran war keeping prices high ahead of a full ban on Russian LNG imports from January 2027.
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Europe News
EU tells capitals to cut gas demand amid rising supply concerns
Although the EU is not facing immediate gas shortages, Energy Commissioner Jørgensen warned capitals that soaring prices driven by rising global demand could lead to shortages as winter approaches, according to a letter seen by Euronews.
Economy
European gas prices keep climbing as IEA calls for emergency reserves
With European gas prices hitting the highest since early 2023, the International Energy Agency says governments should consider strategic reserves, more flexible contracts and closer international cooperation to prepare for future natural gas shortages.
Economy
Germany risks missing gas storage target, threatening industry output
Germany will miss its November gas-storage target if injections continue at their current pace, the country’s storage association has warned. Although there is no immediate gas shortage, low storage levels combined with a very cold winter could threaten industrial production in the country.
Economy
Europe’s gas prices are surging. Who will be the first to pay more?
Europe could face its toughest winter gas season since 2022 as wholesale prices trade near their highest level in more than three years. Household bills could rise quickly in the Netherlands while taking nearly a year to fully adjust in Germany and Austria.
Europe News
Europe faces race to refill gas storage as LNG cargoes flow to Asia
After spending much of the past two years rebuilding its gas security following the loss of Russian pipeline supplies, Europe is again facing high natural gas prices due to volatility in global markets linked to disruptions in the Strait of Hormuz.
Europe News
Germany warns EU electricity tax plan threatens national sovereignty
Germany accuses the European Commission of using an electricity market law to sidestep EU tax rules and national sovereignty. The dispute could affect the pace of the bloc’s electrification drive and efforts to reduce its reliance on imported fossil fuels.
Turkey
Iraq wants to supply 1m oil barrels a day to Turkey amid Hormuz crisis
Iraqi Prime Minister Ali Zeydi visited Ankara for his first talks with Erdoğan since taking office, offering to supply Turkey with 1 million barrels of oil per day as Ankara seeks to reduce its dependence on disrupted Gulf routes.
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