In the second quarter of 2023, European and Asian spot prices continued to fall sharply in a context of weak demand and high inventories in the three major consumer markets (Europe, Asia and North America). In the second quarter of 2023, European and Asian spot prices were on average 60% lower than in the second quarter of 2022 but remained historically high. Improving gas supply-demand balances have resulted in a relatively abundant supply of LNG on the international market and high stock levels, particularly in Europe. As a result, the markets are not currently anticipating any major supply tensions in the short term. However, this view may change depending on weather conditions, which remain the main factor of risk and uncertainty.
Laïla LOSSON - Page 3
Russian gas in Europe: Yesterday, Today, Tomorrow.
An in-depth analysis of recent developments and prospects in Europe-Russia gas relations
With quality information from Russia getting increasingly scarce, the Russian natural gas market has become more and more of a black box. In its latest report “Russian gas in Europe: Yesterday, Today, Tomorrow. An in-depth analysis of recent developments and prospects in Europe-Russia gas relations”, CEDIGAZ tracks the unprecedented changes between glorious “yesterday” (2018-2021), gloomy “today” (2022-Q1 2023) of Russian gas (both pipeline and LNG) in Europe, including the evolution of the European countries’ dependence on Russian gas, using data still available. The report also discusses possible futures for Russian gas in Europe after 2023 (“tomorrow”) – given new inputs, including selected pipeline export routes limitations, the Turkish natural gas hub initiative, and Russian LNG project developments.
Unaccounted for Gas (UFG) in Gas Network Utilities – An International Perspective
Unaccounted for Gas (UFG) in gas network utilities, particularly methane emissions, is a significant yet often overlooked environmental and financial burden. The increasing concern about environmental issues has placed immense pressure on the oil and gas industry to reduce greenhouse gas (GHG) emissions. Methane, a potent GHG with up to 86 times the Global Warming Potential (GWP) of CO2, has garnered attention at COP26, where 105 countries signed the Global Methane Pledge, committing to a 30% reduction in methane emissions by 2030. It is evident that curbing methane emissions from gas networks holds immense potential for making a substantial impact on global climate change goals.