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The Rise and Fall of the Dutch Groningen Gas Field

Source: Relinde Van Loo, E&C Consultants The Groningen gas field was discovered in 1959 by the Dutch Petroleum Company (Nederlandse Aardolie Maatschappij; NAM) when searching for oil. The production of gas from this field started in 1963. Since its discovery the estimations of its size have been adjusted upwards frequently. In 1959 the size was estimated at about 60 billion m3,...

Nord Stream 2 is a challenge for EU energy policy

Interview with Agata Loskot-Strachota from the Centre for Eastern Studies The situation with the Nord Stream 2 Project is very dynamic and not entirely obvious at many levels. On the one hand, we can see that the project is becoming more and more advanced, that it is being gradually financed by those involved, and that other works are being carried out...

NBP price in the UK – Q1 2018

According to Cedigaz, the NBP spot price for Q1 2018 settled at $8 MBtu, a level that is relatively high compared to the same period last year ($6/MBtu). The NBP price and the LNG spot price in Japan are trending in parallel, with the former presenting a discount of between $0.6 and 1.3/MBtu NBP, depending on the level of...

The (in)elasticity of the LNG market and its cargos

uk spot prices
The so called ‘Beast from the East’ brought cold temperatures for most of Europe. At the same time technical issues occurred with the Kollsnes gas processing facility in Norway, the BBL interconnection with the mainland and the Segal pipeline. All of this while the Rough storage facility is out of the market because of technical issues. This perfect storm caused...

10 Major Trends in the European Gas Market

The EU gas and energy sector is in the midst of a profound transformation driven by decarbonisation, digitalisation and decentralisation. The latest report by Cedigaz analyses in ten key points the evolution of the gas sector and includes forward looking views on new trends in EU gas markets. Decarbonisation: The EU has a high decarbonisation objective. With the ratification of...

January 2018 shows where we will head to

After the earthquake in the Netherlands, the gas sector must adjust to further cuts in L-gas imports. The electricity prices at the long end go down according to political announcements to postpone a coal exit and due to lower coal prices. According to the current state, it is not unlikely that Germany will soon be governed again by a grand...

Ukraine’s last chance to prevent Nord Stream 2

Ukraine is running out of time to provide western gas consumers with the necessary trust to abandon the Nord Stream 2 gas pipeline project.   Nord Stream 2, the gas pipeline to directly connect Russia and Germany, is undoubtedly bad for Ukraine. It will allow Gazprom to largely circumvent the Ukrainian gas transit system when supplying EU consumers. This could result...

Filling levels of Natural Gas Storage

German gas storages switched into withdrawal mode on the 6th of November and remained in this mode for the rest of the month. The aggregated filling level of the storages decreased by 9 percentage points, from 92% to 83% (194 TWh) and was in line with the level observed at the end of November 2016 (see figure below). Especially...

Fully-fledged Southern Gas Corridor by 2020: European Gas Race between Iran and Turkmenistan

Southern_Gas_Corridor
Iran, together with Turkmenistan, possesses almost 28% of the world’s total proven natural gas reserves. When the imminent lifting of Western sanctions takes place, Iran, holder of the world’s largest natural gas proven reserves, will do everything to re-establish its export of hydrocarbons (oil&gas) to Europe, in order to spur the nation’s sanctions-battered economy’s recovery, although this contrasts with...

Brexit and the impact on the UK Energy market

U.K. natural gas is one of the few commodities world-wide which is actually being boosted by the decision to leave the European Union but European gas markets are set for a week of uncertainty as traders process the impact of the UK’s decision to leave the European Union. On top of that, the Dutch government has proposed cutting the...

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The Rise and Fall of the Dutch Groningen Gas Field

Source: Relinde Van Loo, E&C Consultants The Groningen gas field was discovered in 1959 by the Dutch Petroleum Company (Nederlandse Aardolie Maatschappij; NAM) when searching for...

Nord Stream 2 is a challenge for EU energy policy

Interview with Agata Loskot-Strachota from the Centre for Eastern Studies The situation with the Nord Stream 2 Project is very dynamic and not entirely obvious at...

NBP price in the UK – Q1 2018

According to Cedigaz, the NBP spot price for Q1 2018 settled at $8 MBtu, a level that is relatively high compared to the same...