Europe energy in brief Report

Insight 06 July 2022

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Report summary

The Europe energy in brief provides the latest Wood Mackenzie view on key issues across all fuels in the region. Our experienced industry analysts collaborate with colleagues across sectors to develop our objective, proprietary analysis. Our coverage of the region, across fuels, is integrated with our global analysis to provide unrivalled insight and enable us to fully explore implications for market participants.

Azerbaijan and the EU sign MoU to double Southern Gas Corridor flows
Norway government stops strike action and safeguards gas exports
UK's government and Centrica in talks for "Rough" resurrection
Gazprom announces withdrawal from Gazprom Germania – Implications for storage
Uniper expanding its available regas capacity in North-West Europe
High Russian flows could be sustained in April
Proposed new Groningen production cap lower than expected
Europe mandates to fill storage capacities by 90%
Are buyers shunning Russian LNG?
Israel increases gas exports to Egypt - this time via Jordan
Gazprom and CNPC ink agreement to supply gas to China via Far Eastern route
How taxing is it to classify gas as green? Very - and it isn't over yet.
Dutch government considers increase to Groningen production cap
Gas is ready to power the transition in Germany– but questions remain on the underpinning infrastructure required
Serbia-Russia contract negotiations progress with 6 month supply agreement
Equinor sanctions electrification and Gas Capacity Upgrade at Oseberg in Norway
Serica Energy brings Columbus onstream in the UK
Germany suspends certification of Nord Stream 2 pipeline
UK government goes big on CCS with £1 billion cluster investment
European Union responds to the energy crisis with a toolbox of policies
Trading Hub Europe takes over as the key gas pricing point in Germany
Groningen production cap confirmed for its final gas year to September 2022
Turkey contracts spot Shah Deniz gas from Azerbaijan for next three years
Gazprom underwhelms with first Serbia-Hungary annual capacity booking
Nord Stream 2 pipelay tracker
How could Gazprom respond to a tight domestic gas market?
Gazprom Q2 update: Gazprom production set to increase by 55 bcm YOY, though exports to Europe see only a 3.4% YOY increase
Maghreb transit extension risks grow
UK faces a challenging winter as gas production falls 32%
Northwest Europe LNG sendout falls below 5 year average
European gas storage inventory at low levels
Italgas' new gas storage facility sold to F2i
Nord Stream 2 pipelay tracker
TPAO enjoys well test success at Turkey’s giant Sakarya discovery in Black Sea
Nord Stream 2 pipelay tracker
Nord Stream 2 pipelay tracker
UK's Tolmount start-up delayed to year end
Nord Stream 2 pipelay tracker
Gazprom's access to the OPAL pipeline remains restricted
Nord Stream 2 pipelay tracker
Nord Stream 2 pipelay tracker
Rescinded permit risks Baltic Pipe full start-up in October 2022
Nord Stream 2 pipelay tracker
Nord Stream 2 pipelay tracker
Nord Stream 2 pipelay tracker
Turkey makes another multi-tcf gas discovery in the Black Sea, close to Sakarya
Nord Stream 2 pipelay tracker
Nord Stream 2 pipelay tracker
Cold April in Europe drives demand, withdrawals and gas prices
Nord Stream 2 pipelay tracker
Nord Stream 2 pipelay tracker
Algeria successfully commissions the EGPDF gas pipeline
Nord Stream 2 pipelay tracker
Cold April delays beginning of storage fill season
Gazprom books 15 mcm/d of firm capacity via Ukraine on top of the 110 mcm/d under the long-term agreement, but no additional interruptible capacity is booked.
Nord Stream 2 pipelay tracker
Azerbaijan’s Shah Deniz Phase One gas exports to Turkey suspended as contract extension talks continue
UK North Sea Transition Deal: setting the course for a net zero basin
Nord Stream 2 pipelay tracker
Nord Stream 2 pipelay tracker
TPAO spuds new Black Sea exploration well near world-class Sakarya discovery
Q1 Norwegian exports down 4% YoY from 2020
Europe LNG send-out rebounds strongly in March
Nord Stream 2 pipelay tracker
Developments in German gas storage
Nord Stream 2 pipelay tracker
Total, Eni, acquire leading biogas producers
Nord Stream 2 pipelay tracker
Gazprom makes good use of it's European storage capacity
BP planning UK’s largest blue hydrogen project
Germany appeal European Court of Justice ruling on OPAL
Nord Stream 2 pipelay tracker
Ukraine targets gas self-sufficiency by 2030
Nord Stream 2 pipelaying work progresses in the Baltic Sea
Gazprom-Transgaz Romanian transit contract termination
Gazprom’s winter – Ukraine transit and storage withdrawals provided flexibility
Fluxys sanction 6 mmtpa capacity expansion at Zeebrugge terminal
Curtailed gas demand in 2020 leaves Gazprom piped deliveries to Europe at lowest levels since 2015
Ukraine grants Naftogaz offshore Black Sea blocks without competition
Nord Stream 2 pipelaying resumes as sanctions pressure ratchets up
Vermillion Energy emphasises European gas investment in 2021 budget
Robert Morris, 20 January 2021
Norway's carbon tax set to rise fourfold
Croatia becomes Europe’s latest LNG importer with arrival of first LNG carrier
Southern Europe to receive new gas and LNG flows in New Year
Edward Gomersall, 21 December 2020
UK launches energy white paper, plotting path to net-zero emissions future
Edward Gomersall, 18 December 2020
Denmark sets 2050 as end date for oil and gas production
UK's fourth– and biggest– field of 2020 comes onstream
TAP start-up marks the completion of Europe’s Southern Gas Corridor
World’s biggest LNG bunker vessel fuels largest LNG powered ship at Europe's busiest port
Uniper's failed open season boost to Germany's other planned LNG import terminals
One-year delay for start-up of Denmark's largest field
Equinor sets net-zero 2050 ambition
Norway’s 4.1-mmtpa LNG plant to be shutdown for one year, following fire
Poland continues its diversification efforts with new gas supply contracts
Qatar to hold ~40% of UK regas capacity after securing 7.2 mmtpa in Isle of Grain open season
- For more information and analysis, please see our Inform
Trans Adriatic Pipeline (TAP) construction completes, commissioning close
The new gas year reshuffles price dynamics in Southern Europe
Norway LNG plant could be out for a month after rare fire
Partners at Romania’s Midia Gas Development reach another key milestone
Gazprom books additional transit capacity through Ukraine
Emissions targets sees Equinor move towards full electrification of Snohvit LNG
Closing the gap - technology for a net zero North Sea
Hungary signs first LNG contract
Biomethane in the European gas market
Turkey announces biggest ever gas find in Black Sea
EU backs LNG in transport to meet Green Deal goals
The Russian pipeline maintenance month is over – and Ukraine transit has not flexed up
Gazprom uses European gas storage to maintain supply
Chevron strengthens East Med position with Nobleacquisition
Poland looks to create national energy champion with PGNiG takeover
EDF makes upward revision to French nuclear availability – risking 4 bcm of gas demand
Trans Adriatic Pipeline (TAP) gains schedule flexibility with exemption extension
Coronavirus: impact on European gas markets (week 16)
Hungary’s gas plan for the 2020s: diversify supplies and continue to rely on Russia
Ukraine TSO announces unusually long summer maintenance
Coronavirus: impact on European gas markets (week 14)
Gazprom hopes to defend market share with Greece contract first
Coronavirus: impact on European gas markets (week 12)
Italy LNG send-out lifts as coronavirus restrictions relax
Croatia LNG terminal receives boost with short-term capacity reservations
Curtailed French nuclear eases pain of coronavirus-hit gas, power markets
Nord Stream 2 - subject to EU gas market rules?
UK summertime blues: coronavirus pushes gas market to deadlock
Could French regasbecome fully booked?
European gas storage: record inventory in place further weakens summer market
Italy LNG imports suffer as coronavirus constricts consumption
Poland-Russia contract dispute: arbitration axes oil linkage, orders $1.5 billion payout
Greece regas booked, but coronavirus concerns cancel equity sale
Coronavirus: impact on Italian gas demand
EU firms up net-zero emissions ambitions
Weak Lira hits Turkish gas demand, imports in 2019, but LNG up
Qatar Petroleum secures EVEN MORE European LNG capacity
UK’s South Hook to expand capacity ahead of Golden Pass start
Gazprom’s own brand spot sales reach historic high
France price premium attracts Spanish flows
Warm winter start threatens gas demand
French LNG terminals weather strike storm
TurkStream and EUGAL commissioning transforms CEE gas dynamics
LNG imports hit record levels in most European markets in 2019
EastMed pipeline participants retain ambitions for 2022 FID following non-binding supply deal
Gazprom, Naftogaz reach gas transit agreement – with a day to spare
Danish utility Ørsted sells LNG business to trader Glencore
European Green Deal announced– Europe's ‘man on the moon' moment
Fully-booked capacity at Montoir demonstrates high demand for Europe regas
Storage utilisation at low levels despite record inventory
PGNiG plans to expand small-scale LNG offering
Ceremony marks full completion of TANAP pipeline – the heart of Europe’s Southern Gas Corridor
Spain’s PVB trades at historic lows
Ukraine’s first LNG cargo arrives in Poland
Final furlong for fossil fuel financing?
UK government ends support for fracking in England
Nord Stream 2 receives Danish construction permit
Where next for European gas storage?
Turkey sends drill ship to disputed waters
Romania could take stake in new Greece LNG importing terminal
Sonatrach, Naturgy to jointly own Medgaz pipeline
One month after OPAL restrictions, why is Nord Stream still flowing at capacity?
UK offshore wind is subsidy-free(!)
24 hours of turbulence add to winter uncertainty
French Engie sells off Shah Deniz gas contract to Shell
Groningen gas production to stop in 2022
Russian LNG threatens Russian piped gas market share in Estonia
Qatar takes all of Belgium's regas capacity ahead of LNG expansion
CEE countries diversify their gas imports: a side-effect of global LNG over-supply
Another European utility targets E&P exit
European gas storage – filling up fast!
Europe top destination for US, Russia's Yamal LNG in H1
Russian exports: summer maintenances highlight need for continued Ukraine transit
Cyprus LNG import plans progress
Petronas latest to sell European regas infrastructure
TANAP and TAP milestones maintain Southern Gas Corridor momentum
Pavilion Energy takes over Iberdrola's LNG business
Enel-Sonatrach contract extension to 2027 sees volumes halved
Poland increases Norwegian exposure, US LNG offtake
Turkey's newbuild FSRU on the water
Bulgaria accesses cheaper gas through LNG imports
German onshore tender undersubscribed as wind additions slump in 2019
Eni-Sonatrach contract extension sees up to 30% ACQ reduction
Opportunity for gas as low rainfall curbs hydro
Bulgaria pipeline construction imminent – completion schedule remains at risk
Algeria pipeline flows collapse
Carbon bull run supports coal-free Easter Weekend
Baltic small-scale market targeted by start-up of NOVATEK LNG plant
Baltic LNG dealt blow as Shell exits Gazprom project
Ukraine takes important step towards gas transmission unbundling
A year after record lows, winter's end sees close to record high storage inventories
Nord Stream 2 encounters another hurdle
Expansion, divestment and state support – a regas round-up
Increasing utilisation triggers possible Netherlands LNG capacity expansion
UK backs offshore wind through the 2020s
European gas storage utilisation drops sharply in February
Groningen — to shut in as early as 2024?
Germany LNG import plans progress
EU reaches agreement to regulate Nord Stream 2
UK's first fracking site reports stable flows of 0.1 mmcfd
Croatia to become Europe's latest LNG importer following FID
Spanish hydro reserves accumulate, but still run short of 5-year average
The UK makes largest gas find in a decade (for the second time in 4 months)
ExxonMobil backs German LNG project with non-binding capacity booking
Gazprom offers day-ahead gas through its online auction, builds on 2018 progress
Did 2018's end see Europe catch the start of the much-awaited LNG over-supply?
Trans Adriatic Pipeline (TAP) completes project financing
Gazprom contract under threat as Poland cements gas, LNG deals
FSRU sees Russia become LNG importer as well as exporter
Norway's Aasta Hansteen field comes onstream
Europe regas developments highlight different needs
Interconnector Greece-Bulgaria (IGB): European Commission approves funding
Implementation of France gas zones merger highlights wider gas and LNG impact
Ukraine transit remains key to compensate for Nord Stream maintenances
RWE capacity booking provides momentum to German LNG terminal
Is coal-to-gas switching in the European power sector still out of reach?
France's single gas hub on track for 1 November start
Poland ramps up LNG importsas end of Russian piped contract looms
WTO ruling backs EU on Third Energy Package dispute with Russia
Lire devaluation shuts in Turkish power production
Gazprom breaks export record... again
Romania's new offshore law aims to increase revenue, boost energy independence
Poland signs long-term contracts for US LNG to replace Russian piped gas
Cyprus plans to commission FSRU by 2020
TANAP section hits commissioning stage on time, under budget
Expectations of market tightening swing carbon price sentiment
Spain hopes for increased use of LNG facilities through law change
Gazprom's pragmatic capitulation in EC antitrust ruling
The wind of change blows through Poland's power mix
AlexandroupolisLNG terminal delay
Germany awards second round of offshore wind: one more step towards transition
France introduces new storage tariffs
Challenging market conditions test the resolve of large gas generators
Snam, Enagas and Fluxys win DESFA bid
Total confirms energy market ambitions with Direct Energie deal
Northwest Europe regas terminals come out of hibernation
Further Flamanvilleconstruction issues may push up cost, delay start
Belgium to phase out nuclear generation by 2025
Edison to spin off oil and gas unit
Europe's largest gas field to shut-in by 2030
Poland delivering new coal-fired power as decarbonisation slips
European gas storage eaten up by the 'Beast from the East'
How reliant is the UK on Russian gas and how quickly can it attract LNG?
E.ON-RWE deal on Innogy: a tale of two utilities
Germany's new coalition raises the bar on energy transformation
Did coal just rescue the UK gas market?
The Rain in Spain - continued
DESFA sale moves forward
Gazprom to end Ukrainian transit contract
Yamal LNG - is Europe just a stopover?
Could Eni's discovery in Cyprus spur further interest in the proposed East Mediterranean Gas Pipeline?
EdF proposes nuclear shutdowns from 2029
Dutch governmentadvised to cut Groningen production by45%
Dortyol FSRU – waiting to connect
Coalition talks in Germany push forward renewable ambition
Groningen field facing further production cuts
Norway revises gas production estimates up to 2022
French regulator approves TSO’s 2018 investment plans, looking forward to the single gas market
Russia's gas exports to Europe set to continue at record levels in 2018
An update on Gazprom vs Naftogaz
Algeria Southwest Phase 1 gas onstream before Christmas
Gas Explosion at the Baumgarten gas hub
UK gas marketproves resilient
Forties Pipeline System shutdown restricts UK associated gas production
EDF to invest in thesecond transition of French power
LNG re-exportssurge on high Asian prices
ARA coal price to remain buoyant through winter
French players reshuffle the cards on LNG
Europe on the cusp of ETS post-2020 agreement
France delays 50% nuclear target beyond 2025
European Gas Storage Inventory well above average in 2017
How bright is the future of nuclear power in the UK?
Scotland says no to unconventional oil & gas
Hansa Hydrocarbons confirms big Ruby discovery, offshore Netherlands
Centricaconfirmsapproval to deliverRough cushion gas
Gazprom’s gas production up 54 bcm in first 3Q
Gazprom set to export record levels of gas to Turkey
Algeria Breakfast Briefing and positive news for Algerian gas supply
Storage plays key role during Nord Stream maintenance
London Gas, LNG and Power forum 2017: beyond the market consensus
UK Contracts for Difference results – wind bids breeze under nuclear
Statoil's Korpfjell underwhelms in the southeast Barents
Statoil's End if the ICE age? Europe's shift from oil to electric-powered vehicle
Russian finance powers new nuclear in Hungary
Russian Gazprom retains 33% market share in Europe, Turkey H1 2017
Will French nuclear output recover from last winter's outages as new safety probe is announced?
Statoil ups ante in world's largest offshore wind farm
New US sanctions against Russia signed into law
Spain ramps up renewables development with 8 GW of projects awarded this year
Algerian gas flows down as Southern Europe demand strengthens
Gazprom likely to boost Nord Stream flows following OPAL court ruling
Imports at record low as UK receives first US LNG cargo since 1960
Gazprom flows rise 11% to Northwest Europe in H1 2017
Qatar targets 100 mmtpa LNG exports
Statoil increases Troll production cap
US LNG navigates to northern Europe
German gas plants gain advantage over coal, but both still struggle against renewables
Spanish hydro reserves hit record low forcing greater gas demand
Rough closure – UK caught short
Turkey accelerates FSRU development
UK backs out coal while wind and solar share reaches new high
DONG Energy delivers on offshore wind
Groningen production set to fall again
Nord Stream 2 financing scheme announced
Algeria focused on maintaining European gas exports
Libya gas field shut-in disrupts Italy exports
Further problems for European gas storage in Germany, Austria, UK
Green light for Denmark North Sea development
Subsidy-free offshore wind blows into Europe
Power supply highlights Q1 2017
Liberalisation of the Latvian gas market
Russia, Belarus settle gas price dispute
Continued progress towards agreement on ETS strengthening
European Commission publishes Gazprom commitments in antirust case
Gas storage operators warn of closures
Is populism waning in Europe?
Ambitious ETS reserve measure receives backing but still has hurdles to clear
UK power capacity auctions deliver little new supply
Nuclear supply concerns not restricted to France this winter
Gazprom reduces OPAL flows
Innovative deals and near-field exploration result in positive start to 2017 in UK, Norway
Denmark gas field closure

Tables and charts

This report includes 202 images and tables including:

Trans Adriatic Pipeline (TAP) expansion scenarios
Strike action: potential cumulative production shut-down

Gazprom Germania's Storage Assets
Gate's capacity
Total Ukraine transit flows to Europe
Groningen production
European gas stock levels
Israeli gas exports
Sakhalin-Khabarovsk-Vladivostok (SKV) pipeline
Policy measures available to Member states
Traded Volumes at European Hubs 2021
Churn Rates 2021
Groningen production: 1970-2022
Turkey’s gas imports from Azerbaijan
Russia gas production
Gazprom monthly European exports YTD
Maghreb and Medgaz capacity vs total flows to Spain
Monthly UK production YTD
Northwest Europe daily LNG sendout
European gas storage position 1st August
Gazprom's main storage inventories in Europe at 1st August
Pipelaying vessel track (last 30 days)
Pipelaying vessel track (last 30 days)
Pipelaying vessel track (last 30 days)
Pipelaying vessel track (last 30 days)
Pipelaying vessel track (last 30 days)
Poland Supply-Demand Balance
Pipelaying vessel track (last 30 days)
Pipelaying vessel track (last 30 days)
Pipelaying vessel track (last 30 days)
North Sakarya discovery (Amasra-1 well)
Pipelaying vessel track (last 30 days)
Pipelaying vessel track (last 7 days)
Non-power demand actual and modelled under 5-yr average weather conditions
April power generation mix
Pipelaying vessel track (last 7 days)
Pipelaying vessel track (last 30 days)
The EGPDF pipeline (runs from El-Aricha to Beni-Saf)
Russian pipelaying vessel track over the last 30 days (Fortuna, Akademik Cherskiy)
Impact of cold April 2021 on European storage fill
Ukraine transit utilisation (daily)
Russian pipelaying vessel track since the start of April (Fortuna, Akademik Cherskiy)
Turkey gas demand and import contracts (annual contract quantity, ACQ)
Russian pipelaying vessels
Russian pipelaying vessels
Q1 2021 Norwegian Exports to Europe
Europe LNG sendout
Russian pipelaying vessels
Russian vessel Fortuna
Gazprom use of European storage 2016-2021
UK gas production (2027 - 2048)
Nordstream daily flows by route
Russian vessel Fortuna
Russian vessel Fortuna
Romania gas supply-demand outlook
Ukraine transit - capacity and flows
Storage withdrawals from Gazprom facilities in Europe
European gas supply mix
Black Sea upstream
Nord Stream 2 route
Regas capacity holders at the Krk LNG terminal
Denmark production profile
UK volumes brought onstream 2015-20
Gas Agility fuels giant containership with LNG in Rotterdam
PGNiG gas purchase contract portfolio
TAP overview
Italy: net imports and PSV-TTF diff
Spain: net imports and PVB-TTF diff
Midia Gas Development
Biogas and biomethane production
Sakarya discovery
Russian piped exports to Europe by route
Gazprom storage utilisation during pipe maintenance July 2020
French nuclear output
Non-power demand has recovered in most European countries
Available daily capacity at Slovakia to Ukraine entry points
Italy LNG send-out
Capacity at Krk LNG terminal (2020-2030)
Power supply change between outlooks: pre- and post-coronavirus impact
Gas demand shows signs of recovery after a peak-low around Easter
UK summer gas supply-demand balance
Italy: Easter seems to have formed the peak-low for industrial gas demand
Key takeaways: country-by-country
European storage fill requirements for summer 2020
Daily gas flows from Europe's major piped gas suppliers
Italian gas supply mix and PSV-TTF differential
Italy Q1 2020 LNG imports
TTF average and estimated average of Gazprom-PGNiG contract Nov '14-Mar '20
Italian demand by sector (7-day average)
Gas Imports to Turkey 2018-2019
Lira vs US$ and Rus
QP's European regas position
Contracted regas capacity in Europe by company
ESP daily sales volumes
Monthly ESP sales and Ukraine transit volumes
France - Spain Flows
Heating Degree Days to date compared to historic range
Terminal sendout and storage utilisation
Aggregate European Daily withdrawals Jan 2020
Remaining inventory in key storage countries Jan 2020
CEE gas supply - Russia & storage
Gross LNG imports - 2019 and previous maximum level
Europe monthly LNG send out
November Storage Utilisation
PVB-TTF differential
Nord Stream 2 and Bornholm Island - permit applies to 'Route 3'
European Storage Working Gas Capacity
Cyprus maritime border dispute and Turkish Petroleum well locations
Nord Stream throughput by pipeline
Regional storage utilisation at 31 July (bcm)
Regional storage utilisation at 31 July (%)
US exports by destination
Yamal LNG exports by destination
Pipeline flows on the main Russian export routes in July 2019
Dragon LNG imports
Southern Gas Corridor value chain
Gas market share in Spain by company
ACQ of recently renewed long-term contracts between Italy and Algeria
Year-on-year change (TWh)
Algerian pipeline flows to Italy and Spain
Nord Stream 2 routes around Bornholm
TTF price differentials & European gas storage withdrawals Feb 2019
Spanish hydro reserve
Gazprom Export's 2018 sales on the ESP
European imports: LNG vs Russia pipe in 2017-18
Aasta Hansteen Area
Gate: monthly sendout and October sendout by year
Daily Ukraine transit to Slovakia vs technical capacity
European carbon and coal-to-gas switching prices
Swinoujscie LNG terminal monthly utilisation
Gazprom's exports H1 2018
TANAP construction progress
Import markets affected by antitrust ruling
France gas storage depleted
Inventory at Northwest Europe regas terminals
Belgium nuclear phase-out
Groningen production plan vs WM 2017 base case
New Polish coal-fired capacity
Europe gas storage levels
Where the first million tonnes from Yamal LNG landed
Where the cargoes ended up
Shipping from key LNG supply sources to Isle of Grain (UK)
Annual power supply in Germany
UK hourly gas supply mix: 25/02/2018-05/03/2018
Spain hydro
Where the first 10 Yamal LNG cargoes went
France power generation by fuel
Turkey gas demand and system capacity
NPD sales gas production forecasts to 2022*
Historical French hub prices
Europe gas supply mix
Europe gas supply mix 2017/16
Europe gas imports from Russia
UK gas supply mix - hourly 10/12/2017-13/12/2017
Europe LNG re-exports
Thermal coal price indexes history
How Total's expanded LNG business will look
French reactor fleet age profile in 2025
French electricity mix
Storage inventory for main capacity holders
Gazprom’s Q1-Q3 2017 year-on-year gas production increase
Gazprom's exports to Turkey: 2016 vs 2017
Gazprom's European storage usage
UK offshore wind CfD strike prices and baseload price
Gazprom exports H1 2016/17
Gazprom export flows
Gazprom export prices vs TTF
OPAL exit capacities
UK LNG imports by terminal
UK LNG imports by month
Gazprom flows to Northwest Europe
Troll production outlook
Spanish hydro reserves vs gas, coal output
Rough historic storage and injections, and future supply scenario