Energy Market Update 01/04/2025

Welcome to our weekly energy market update, where we share the latest trends, shifts, and key developments impacting the energy sector. Whether it’s fluctuations in oil and gas prices, changes in renewable energy policies, or updates on energy infrastructure projects, we’re here to help you stay informed. Join us as we break down the most important factors influencing the market this week, and explore what these changes could mean for your business.

Current Market Drivers:

📉 Northwest Europe is expected to fall short of the bloc’s winter gas storage target under all forecast scenarios. Meanwhile, a 7% rise in global LNG demand this summer, driven by Europe and Egypt, will keep prices elevated.

🔥 Ukraine and Russia’s ceasefire on maritime and energy infrastructure appears merely symbolic, as attacks continue, offering little hope for a lasting peace deal and helping to maintain geopolitical risk along the curve.

📈 The EU’s Agency for the Cooperation of Energy Regulators warn that network costs could rise by 40% by 2030.

🌎 The US has extended the sanctions exemption for Hungary and Slovakia, permitting them to continue importing Russian gas through the TurkStream pipeline, offering some bearish signals on improving European energy security.

⚡ A record amount of renewable power generation was produced in 2024, reaching over 50.8%, a 6.5% increase from 2023. This growth, driven by the ongoing expansion of renewables, signals a continued reduction in reliance on fossil fuel generation.

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