Implementation of the Network Code on Capacity Allocation Mechanisms is progressing, although further steps are needed to promote the full implementation of the code, the agency for the cooperation of energy regulators (ACER) said.

One of the key factors that will determine the amount of gas used in power generation over future years is the cost and effectiveness of energy storage. The cheaper the storage, the more intermittent renewables will be able to be introduced to grids, and the less gas that will be required; especially in higher latitudes where solar is not available part of the year.

France's Engie has signed an agreement with Ukraine's gas transmission system operator UkrTransGaz aimed at further developing the company's presence in Ukraine's wholesale gas market.

Italy's Eni posted an adjusted net loss of Eur484 million in Q3 16, against an adjusted net loss of Eur127 million in Q3 15, on the back of an ongoing low energy prices environment and production shutdown at its Val D'Agri field.

In the first nine months of 2016, it recorded a net loss of Eur799 million.

Swedish utility Vattenfall reported a net loss of SEK 21.9 billion in the first nine months of 2016. Net profits from continuing operations accounted for SEK 1.8 billion.

Gas demand in South America is expected to grow by some 50 billion cubic meters to 2030, reaching 191 Bcm on the back of increased energy demand and renewable production, which will call for flexible thermoelectric back up generation to balance the system.

However, the potential for the region to significantly develop its LNG market remain uncertain, and very much linked to weather scenarios in the region.

It's what emerges from a report on “South America gas markets and the role of LNG” by Anouk Honore, published by the Oxford Institute for Energy Studies.

Russia's Gazprom is ready to face the heightened natural gas demand of the winter period, starting the season with some 72.1 billion cubic meters of gas reserves in storage, according to the head of Gazprom, Alexei Miller.

Wednesday, 26 October 2016 09:26 / Markets

Denmark, Germany to hold joint PV auctions

Denmark and Germany are to hold the first joint auction for ground-mounted photovoltaic installations. Under the framework, “for the first time, photovoltaic installations in Denmark can participate in a German auction alongside photovoltaic installations from Germany” Germany's Federal Network Agency (BNetzA) said.

European gas demand is set to increase by 6% year on year in 2016, reaching some 447.1 billion cubic meters.

This rise is partly due to increased demand for gas in power generation following signs of revival in industrial activity, as well as greater use of gas in transport, the European gas wholesale, retail and distribution sectors association Eurogas said in a recent report.

Electricity demand in Italy accounted for 26.3 GWh in September, down by 0.7% year on year, Italian power grid operator Terna said. Some 89% of the electricity consumed was generated domestically, while the remaining 11% was imported from foreign markets.

National production stood at 23.6 GWh in September, increasing by 1.4% year on year.

The International Energy Agency (IEA) has revised up its renewable capacity growth forecast, with global renewable electricity capacity now expected to increase by 42%, or 825 GW by 2021. That's 13% than what previously forecast, reaching a 28% share of the electricity generation mix by the end of the five-year period.

Aluminium of Greece has signed a long-term electricity supply agreement with Public Power Corporation (PPC), ending a long-running dispute between one of the country's biggest energy consumers and its dominant electricity producer.

Natural gas demand in Italy posted a strong year on year increase in September, rising by 13% to 4.6 million cubic meters. That was mostly due to a sharp rise in demand for power generation, which was up by 21.1% year on year at 2.2 million cubic meters, Italian gas and power exchange operator, Gestore Mercati Energetici said.

The president and CEO of Qatar Petroleum, and chairman of Qatargas, Saad Sherida Al-Kaabi concluded this week a series of meetings in Japan with senior executives of major Japanese energy companies. The visit was "designed to follow up on all issues that relate to the existing cooperation and business relationships and ways to enhance them" the company said.

A report carried out by a UK-based consultancy and published by electricity generator UK Power Reserve has found that the UK's electricity capacity market auctions (CMAs) might have been distorted in the past two years “by players able to bid at a lower level than others by using investment with special tax relief.”