Ukraine cutting its gas ties with Russia is becoming a reality, which in the coming years might lead to a radical change in scenario for energy trading between the two countries and with Europe, the most recent issue of the quarterly Oxford Energy Forum publication by the Oxford Institute for Energy Studies (OIES) argued.
The share of electricity generated from gas-fired power plants sold on the Italian day-ahead regulated electricity market rose 5.7% year on year over 2016, standing at 44.1% of total sales, up from 38.4% the previous year, exchange manager Gestore Mercati Energetici (GME) said in its monthly report.
Domestic consumption of natural gas in the US is expected to increase through 2040, driven by higher demand for power generation, according to the US Energy Information Administration (EIA).
Total natural gas consumption is expected to exceed 30 trillion cubic feet/year in 2040 under EIA's reference case, from around 28 Tcf/year in 2016.
Russian gas supplies to Europe are set to exceed 179 billion cubic meters in 2016, reaching an “historic high”, according to the CEO of Gazprom Alexei Miller.
In an end-of-year speech published on Gazprom's website, Miller said that 2016 had seen “new records in terms of gas deliveries to Europe” reaching a total 614.5 million cubic meters/day on November 29.
The share of electricity generated from gas-fired power plants sold on the Italian day-ahead regulated electricity market further increased in November, reaching 52.1% of total sales, up from 50.7% in October and against 42.6% in November 2015, exchange manager Gestore Mercati Energetici (GME) said in its monthly report.
The new energy package unveiled by the EU Commission on November 30 is “the widest in scope” presented at European level so far, however it is far from providing conclusive answers to current energy issues and appears to be rather “another step in a work in progress” according to a paper of the Oxford Institute for Energy Studies.