LNG regasification ship

Spanish LNG purchases from Russia up 45% in 2022

Spain has increased its imports of liquefied natural gas (LNG) from Moscow by 45%, according to data from the latest Enagás statistical bulletin, published by El Periódico de la Energía. According to the newspaper La Vanguardia, it all started when Algeria closed the Maghreb-Europe gas pipeline (GME), one of the two that supply Spain, after the spanish government changed its position to favour Morocco’s claims over the Sahara, in the…

gas natural almacenamiento

EU launches ‘gas cap’ (€180 MW/h) full of exceptions

A record six (mostly extraordinary) meetings were held in the end and the last one produced a white smoke: an agreement to impose a €180 cap on the price of imported gas. The new ‘gas market correction mechanism’ will operate with a double safety key. It will be triggered automatically when, for 3 consecutive days, the price on the Dutch TTF market reaches 180 euros per megawatt hour (MWh). But…

french interconexion

Gas consumption in Europe fell by 19% in November

In Europe, in November, the fall in natural gas demand was 19%, much more than the 15% drop estimated by the EU. In addition, November is the first month in which we can see how the residential and commercial segment is reacting to higher energy prices. Demand from the industrial customer has already been falling for several months (-28% vs 5 year average) and has not been surprising. But the…


Sánchez, Macron And Costa Agree To Bury Midcat And Replace It With “A Green Corridor” Between Barcelona And Marseille

Pedro Sánchez, Emmanuel Macron and António Costa (who, for Portugal, has also been part of the dialogue) have decided to discard the gas pipeline that had been proposed through the Pyrenees, the MidCat. They have agreed that a new project, BarMar, will replace it. This is an underwater gas (or hydro-product) pipeline that will link Barcelona and Marseille via the Mediterranean Sea bed. This solution, however, has its cost: the…

NataliaFabra 2

“Carbon Prices Are Having Perverse Effects”

Carlos Schwartz | Natalia Fabra is a director of Enagás and chair of the European programme “CURRENT TOOLS AND POLICY CHALLENGES IN ELECTRICITY MARKETS”. Q:There seems to be a shift in thinking about pricing mechanisms in the energy sector at the moment. A: Yes, it is part of the paradigm shift. It has been realised that, in the case of the electricity market, it is not correct to remunerate power…

Teresa Ribera

The Spanish Government Refuses To Reduce Gas Consumption By 15%, As Demanded By Brussels

Teresa Ribera, Minister for Ecological Transition, has lashed out harshly against the Brussels plan to force EU countries to reduce gas consumption by 15% during the autumn and winter months. According to Ribera, this plan is “neither the most effective, nor the most efficient, nor the fairest”. “We have strategic reserves. We have done our homework. We have achieved a very solid position” in terms of security of supply, said…

LNG regasification ship

Asia Reduces Its Demand For Gas And Boosts European Supplies

Juan Antonio Martínez & Leonardo Gago (ASE Group) | More liquefied natural gas (LNG) is arriving at European ports and has lowered the daily price and that of immediate short-term gas products at the Dutch TTF. For the time being, the increase in LNG imports is offsetting the strain on Russian supply. In Q1 2022, Russian exports to the EU had fallen by 35% compared to the 2016-2021 average for…

gas grid

The Iberian Solution Could Offer Europe More Gas

Francis Ghiles (Vía Fair Observer*) | The Ukraine-Russia crisis has laid bare Europe’s dangerous reliance on Russian energy. But it has also opened up new opportunities for the exporting of Libyan and Algerian gas. Never has the question of where Europe’s foreign gas supplies come from, and whether there are alternatives to the continent’s dependence on Russia, been so much debated as in recent weeks. A subject that is usually…

LNG regasification ship

Capping Gas Prices Only Delivers Short-Term Respite

J.P. Marín-Arrese | PM Pedro Sánchez bet hard in the recent EU Summit when he pressed for an overhaul of the current marginal cost pricing in the electricity sector. While missing his goal, and rebuked by Germany and Holland, he was given as a consolation prize the promise that Spain and Portugal could cap electricity gas prices on a temporary basis, subject to final scrutiny by Brussels. Decoupling the most…


Russia Has Increased Gas Supplies Since Invading Ukraine (While Gazprom Has Withdrawn From The Spot Market In Europe)

ASE Group | Russian gas supplies to Europe from Russia have increased since the war broke out because of long-term contracts, in place between European buyers and Russia’s Gazprom, which include strict commitment clauses. All parties are committed to respecting them or face serious losses. This is why Grazprom is avoiding direct economic sanctions from Europe.In any case, Russian flows are not back to normal for this time of year….