Alessandra Pasini

Geopolitical Tensions Tighten Gas Markets   Yesterday at Italian Energy Day, Xavier Rousseau, Snam S.p.A.'s Director of Strategy and Market Analysis, shared insights into the complexities of today’s gas market in an interview with Enza Tedesco.   Rousseau highlighted how geopolitical tensions are shaping a tighter market, with compressed demand and heightened price volatility. As demand looks set to rise, the market is bracing for further impacts.    For the latest updates on gas markets, follow Montel News—link in the comments.   #EnergyMarkets #GasSupply #ItalianEnergyDay #EnergyPrices #EnergySector

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🌍 Stepping across borders: Supporting Italy's climate targets with Adriatic Link Siemens Energy continues to support Italy’s ambitions of reaching net-zero targets by contributing to the expansion of the grid via our recent #HVDC contract win of #AdriaticLink. We have secured a contract to provide technical equipment and the turnkey supply of the two converter stations for Adriatic Link, a major energy infrastructure project in Italy from our partner Terna SpA. Supplied with our state-of-the-art HVDC PLUS technology, the 250 km long connection will enable the exchange of up to 1,000 MW of energy between the north and south of Italy, and thus will strengthen the stability and security of the grid. ⚡ As Italy aims to meet its 2030 climate targets, including a 55% reduction in emissions, Adriatic Link will be important in supporting the nation's renewable energy goals. With the growing share of #renewables in Italy's electricity generation, this project will support the efficient integration of these energy sources. Step by step, we move with our partners towards the connectivity of the grid.

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Aug24 #Business #Energy Market Report - Contrary to the movements observed in the preceding month, and across most of 2024, #power and #gas contracts with shorter durations recorded losses month-to-month. Despite the price losses, it is important to acknowledge that prices remain sensitive to change, especially as GB is more exposed to the global market for its procurement of gas.   This was particularly apparent during July when Hurricane Beryl exacerbated supply fears for the West following an outage at the Freeport liquified natural gas (LNG) export facility in the US. Similarly, reduced gas supply from the Norwegian and UK Continental Shelf across various periods of the month further solidified concerns surrounding supply.   Day-ahead gas registered a 9.0% loss month-on-month to average 74.49p/th due to demand reductions as the higher temperatures limit total heating demand. Similarly, front-month contracts registered price drops, with August 24 seeing a 9.0% loss to 75.13p/th, and September 24 dropping 7.3% to 79.71p/th.   Similar to the front-month contracts, most seasonal gas contracts out to Winter 26 showed decreases, but we note outliers in the summer 26 and Winter 26 contracts which saw a gains of 2.0% and 2.1%, respectively.    This led to an overall decrease of 0.1% across seasonal gas contracts, with an element of risk remaining across the medium-term as the present gas supply environment remains relatively uncertain despite elevated levels of EU gas in storage.   Elsewhere, demand profiles in Europe and South-East Asia across the winter period could play a key role in shaping future price movements for gas, particularly if we see competition between the two markets rise for the procurement of LNG. Currently, LNG demand from Europe remains subdued due to high gas storage stocks, currently at 85% at the time of writing, leading to the overall losses registered across gas contracts.   Following the bearish pricing sentiment experienced across its day-ahead gas counterpart, day-ahead power prices fell 7.4% to average £70.14/MWh in July, falling to the lowest level seen since April 2020 at £17.26/MWh on 3 July following high wind generation and low system demand on the day.   However, stronger losses were limited by a month-on-month reduction in wind generation levels, acting to increase the reliance on more expensive forms of power generation. Moreover, continued extensions to French nuclear power generation acted to decrease interconnector flows from the country, in tandem with the maintenance across the GB nuclear fleet throughout the month. Gavin Towers Richard Dickson Freddie Cooke

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