Energy crises

Germany's natural gas storages are filled to 100 percent of their capacity, according to a report by the Association of European Gas Infrastructure Operators (Gas Infrastructure Europe - GIE). The capacity of the facilities in Germany is reported to be at 100.03% based on preliminary data, with allowances for changes in gas volume due to temperature variations.

Negotiations between DEPA Commercial and Gazprom are at a pivotal point, which may lead to arbitration or even a complete stop in Russian gas imports. Their outcome will also determine the future of the Greek gas company.

The creation of the international platform that will include the trading of energy and minerals trade could be completed in 2024, Energy Minister Alparslan Bayraktar has said.

Europe's underground gas storage facilities are poised for the upcoming heating season with more than 99% of their capacity filled, marking a significant milestone in the region's efforts to reduce energy dependence on Russia.

Pipeline exports of natural gas to Europe from Russian energy giant Gazprom fell 2.4 percent in October from September, according to Reuters calculations based on volumes shipped through Ukraine and Turkey.

The war between Israel and Hamas could trigger price shocks for raw materials such as oil and agriculture products if the conflict escalates across the Middle East, the World Bank warned in a report yesterday.

Oil has already risen six percent since the latest round of fighting, sparked when Hamas militants from Gaza stormed southern Israel.

European Union officials discussed diversifying oil stocks and creating a buffer for diesel and gasoil during an emergency meeting of the bloc's oil coordination group, one told Reuters.

Friday's meeting was called by the EU commissioner for energy Kadri Simson to assess potential supply risks in case the Israel-Hamas conflict triggers a broader regional one.

If the extraordinary energy tax on the transfer and transit of Russian natural gas through Bulgarian territory is introduced for the Republic of North Macedonia, the country will request compensation from Bulgaria and additional support from the European Union.

This was announced by the Minister of Economy of North Macedonia, Kreshnik Bekteshi, quoted by BTA.

High levels of gas storage, lower energy prices and new sources of fuel mean Europe is heading into a second winter with scarce Russian gas in a more comfortable position than a year ago.

Reserves of natural gas in the EU are filled to 90 percent of capacity well ahead of a November 1 target date, making it "well-prepared for winter," its energy commissioner has said.