In early September 2026, the European natural gas market entered the final phase of the storage injection season with inventories significantly below the levels recorded in previous years. On 1 September, natural gas storage facilities in the European Union were at 65.4% of capacity, compared with 77.7% the previous year and 92.4% two years earlier. This means that Europe is...
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Neptun Deep is one of the most important energy projects currently under development in the European part of the Black Sea. Its launch, planned for 2027, could significantly alter Romania’s position in the natural gas market. The project, implemented by OMV Petrom and Romgaz, is expected to increase domestic production, strengthen Romania’s energy security, and create new...
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In recent years, the architecture of energy security in the countries of Southern Europe has undergone a significant transformation, driven by supply shocks and shifts in the international environment. A region that for decades depended heavily on energy supplies from Russia is now playing an increasingly important role as a transit and balancing area for new natural gas flows...
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The replenishment of natural gas stocks in Europe during 2026 is taking place amid heightened uncertainty, driven by simultaneous disruptions to the availability of liquefied natural gas (LNG) and geopolitical tensions in the Middle East. The low post‑winter storage fill level (around 29%) amplifies the scale of the challenge, while adverse price signals reduce the incentive for...
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The armed conflict between the United States, Israel, and Iran—encompassing both strikes on targets inside Iran and Iranian retaliatory attacks on energy infrastructure in the Persian Gulf—together with the effective suspension of maritime traffic through the Strait of Hormuz, has triggered the most severe shock to global energy markets since Russia’s invasion of Ukraine in...
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The Central European natural gas market will play a crucial role in ensuring the region’s overall energy security in 2026. Following the supply shock triggered by Russia’s full‑scale invasion of Ukraine in 2022, countries in the region have gradually adapted their supply models to the new geopolitical realities. A key element of this transformation has been liquefied natural...
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As of January 1, 2025, the five-year Russian-Ukrainian agreement from 2019 on the transit of Russian natural gas through Ukraine will expire. This will significantly impact the availability and price of natural gas in Europe during the upcoming heating season. While Azerbaijan could potentially help fill the gap left by Russian supplies, the chances of this are limited....
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For many years, the Baltic States and Finland have actively worked to strengthen energy security, focusing on the creation of a unified natural gas market, increasing trade, and—since the outbreak of the full-scale war in Ukraine—coordinating anti-crisis measures in the energy sector. One key aspect of this effort was the adoption of amendments to Latvia’s Energy Act...
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The process of expanding energy transport capacity is currently underway in Southern Europe, with a particular focus on the natural gas market. Since the outbreak of the full-scale war in Ukraine in 2022, the primary goal has been to ensure greater diversification of natural gas sources and supply routes to Central European countries. Given the reduced availability of natural gas...
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Romania, through the implementation of the Neptune Deep project, has the opportunity to become the largest producer of natural gas among the countries of the European Union. The development of the Domino and Pelican South fields could be an essential element in strengthening the energy security not only of Romania but also of Central European countries. The increased availability...
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