... gas production capacities Gazprom actively invests in the development of fields and the increase in gas production, which meets both Russia's domestic needs and export supplies. Fields of the Yamalo-Nenets Autonomous Okrug: Yamal is a strategically important region for gas production, where the largest reserves of natural gas are concentrated. Bovanenkovo field: One of the key fields on the Yamal Peninsula, with projected reserves of more than 4.9 trillion cubic meters of gas. In 2023, Gazprom continued to expand its ...

... OPEC+ production plans for September and beyond. If the alliance continues to increase supply as scheduled, oil prices may hold in the $65-70 per barrel range. However, any unexpected halt or change in agreements could prompt Brent quotes to rise again. Gas Storage Filling: It is critically important for Europe to reach the target of 90% filling of UGS by autumn. Any delays against the schedule or new supply disruptions (such as unscheduled repairs by Norwegian producers) may trigger a surge in gas prices at the end of summer. Conversely,...

... 2022 during the peak of the energy crisis. For example, in November 2022, the average gas price at the TTF hub was $1,279 per thousand cubic meters. "Prices are unlikely to return to those levels. First, EU countries have significantly reduced gas imports in recent years. According to the European Network of Transmission System Operators for Gas (ENTSOG), total gas imports to the EU, including LNG, amounted to 799 million cubic meters per day in the first nine months of 2024, which is 20% lower ...

... terms of the deal, the EU will annually buy oil, liquefied natural gas (LNG), and even nuclear fuel from the US – the total volume of contracts is estimated at an enormous $750 billion over the coming years. The main goal is to fully replace oil and gas supplies from Russia with American imports by the end of 2027, thereby ensuring Europe’s energy independence from Russia. All EU countries have agreed to open their markets to the US and establish a unified customs tariff of 15% on most goods. This decision allowed for the avoidance ...

... industrial consumers alike. Market participants are also closely monitoring the EU's further steps to enhance energy security – including discussions on updated regulations for mandatory storage filling and potential restrictions on remaining Russian gas imports. Outside Europe, new gas supply routes are emerging. In the Middle East, Turkey has commenced supplies of Azerbaijani natural gas to Syria – a notable development that diversifies energy supply in the region and partially fills the gas shortage ...