German Bayerngas, the regional gas distributor fully-owned by municipal utilities, reported a slight decrease in gas sales to industrial customers despite retaining its client base last year. Until...

UK energy company Centrica posted a 10% increase in its operating profit for the first six months of the year compared with 2003, to reach £763 million (EUR 1.15 billion) including joint ventures and...

Deliveries from the In Salah project in Algeria – originally scheduled to begin in spring – began on 18th July with flows expected to plateau at 9 billion cubic metres/year (Gm3/yr) by the third...

Many people are puzzled by the upstream ambitions of gas marketers such as Centrica and EON-Ruhrgas. While their strategies are not strictly comparable, they do share an underlying rationale: cost...

Belgian power producer Electrabel, has posted total power sales volumes of 68.327 GWh for the first half of 2004, representing a rise of 4.7% from the same period last year. The company attributed...

Spanish utility Iberdrola has signed a firm 1 billion cubic metres/year (Gm3/yr) purchase and sale agreement with Algerian state oil and gas company Sonatrach for delivery through the proposed EUR...

Tighter environmental limits on Italian upstream gas are making a major contribution to the longterm decline in output, say industry sources. Gas production has been banned in the Adriatic Sea north...

Gas Natural of Spain has now submitted its plans for two 8 Gm3/yr LNG receiving terminals to the Italian government for approval. Costs for each plant have already risen by EUR 100 million to EUR 600...

Gazprom has issued $1.25 billion worth of eurobonds at an annual interest of 7.201% with an expiry date of 1st February 2020. This is the lowest interest rate Gazprom has ever achieved in its bond...

An audit of Gazprom reserves by DeGolyer and MacNaughton has shown a 1.3% decrease in the company’s proved and probable reserves of 1.3% based on the international standard of the Society of...

The two incumbent gas suppliers in the south of France have published the rules of the auctions they are to hold as part of the gas release program agreed with the French regulator. The two companies...

Germany’s cabinet has proposed a draft law for the creation of a separate state body to supervise the country’s 1,700 power and gas network operators. The economics ministry’s announcement follows...

The draft proposal for a new energy law in Germany contains several valid points, but is still full of vague, and sometimes contradictory requirements, the Germany association for the energy...

MOL, the leading Hungarian oil and gas company, plans to retain a strategic 25% stake in its gas business that it had previously intended to sell. MOL now plans to sell a 75% minus one share stake in...

On the prompt, levels during the second half of July finally moved out of their fairly tight trading band and started to fall, with plenty of gas available in the UK. Traders presumed this was a...

Norwegian Norsk Hydro and German Wintershall are preparing to embark on the joint exploration, development and production of oil and gas in Libya and in the Norwegian continental shelf after signing...

Austrian oil and gas major, OMV, has signed a deal to acquire a 51% stake in Romania’s largest oil and gas group, SNP Petrom, through a combination of a direct purchase of 33.34% and a simultaneous...

Colin Moynihan, former Tory minister of energy, has accepted the chairmanship of brokers Spectron in succession to former Shell T&T chairman Sir John Jennings. Moynihan’s last major role was as...

Russia’s Gazprom is looking at revaluing its fixed asset base, reports Russian newspaper Vedomosti. The revaluation could esult in a drop in net income through an increase in asset amortization of RR...

The EU Commission´s approval of the German government´s plan to temporarily suspend taxation of gas used for power generation is likely to encourage investment in combined cycle gas turbine (CCGT)...