Gas

European gas prices have surged 30% in the past month as colder weather, weak renewables, and supply concerns strain storage levels, now at their lowest since 2022. With refilling costs rising, Germany is weighing subsidies, while markets watch for potential Russian gas flows.

The EU will be able to renew its sectoral sanctions against Russia after Hungary abandoned its veto threat, which it had linked to energy concerns.

Zelenskyy said last year he had no intention of renewing the gas transit deal, stressing the importance for Europe of moving on from Russia and not allowing the Kremlin to ‘earn additional billions’ on Ukrainian blood.

Moldovan citizens will vote this year in parliamentary elections. There is a risk that their vote will derail Chisinau’s European course. Only time will tell how Europe will react, Vitalie Cojocari writes.

The Moscow-controlled breakaway region of Moldova will receive gas as a “humanitarian gesture” from the Kremlin, while the rest of the country will remain cut off after Russia halted supplies on 1 January, citing alleged unpaid debts.

The leaders of Ukraine and Slovakia are locked in a spiralling dispute over supplies of Russian gas, and can’t even agree on a location to hold further talks.

The United Arab Emirates is continuing to diversify its economy & energy resources away from oil, by investing in natural gas and renewables.

European natural gas futures climbed the highest since October 2023 after Russian gas flows to Europe via Ukraine stopped on New Year’s Day.

A week after Russian gas stopped flowing through Ukraine, the European Commission maintains there is no threat to security of supply despite veri showing a steep drop in reserves as temperatures fall across much of the bloc.