A direct link to the analysis
intelligence.eklipx.io/article/3620

➡️The Geopolitical Revelation: Unpacking Fragility in the World Energy Outlook 2025
🫴https://intelligence.eklipx.io/article/3558
➡️Kinshasa's Cobalt Coup: DRC Links Critical Mineral Access to Power and Peace in a High-Stakes Bargain
🫴https://intelligence.eklipx.io/article/3424

To explore the geopolitics of the energy transition

The announcement comes also only a few days after the end of #COP30 in🇧🇷Brazil, where parties agreed to a commitment to triple adaptation finance by 2035.
Curiously, in February 2025 Equinor scaled back its ambitions in renewables, returning to focus on the Oil & Gas business.

reserves to exploit and export to the EU market, sensibly shaken by the implications of energy geopolitics in the wake of the Russian invasion of Ukraine, the destabilisation of the Middle East, but also the politicisation of energy trade by the Trump Administration.

old and new areas are up for business in a fight against "decline on a mature shelf calls for one of the largest industrial plans Norway has ever seen." The country's largest oil and gas player feels the responsibility, and the business opportunity altogether, of finding new

during an annual conference in Oslo, where the company welcomed new investments in exploration and appraisal wells for 2026, most of them located in the North Sea, by far the most explored and developed region by the country's hydrocarbon industry.
The company's management says

The🇳🇴Norwegian state-owned giant Equinor is on the chase of new oil and gas deposits in the North Sea and it is ready to invest over $60 billion until the middle of the next decade to slow down the decline of hydrocarbon reserves.
The announcement came from the same company

➡️Zelensky's Dilemma: How the 28-Point US Peace Plan Reconfigures Europe's Energy Security Architecture
🫴https://intelligence.eklipx.io/article/3599
➡️US-Qatar Alliance Puts the EU on Notice: CSDDD Threatens Global LNG Supply and Energy Security
🫴https://intelligence.eklipx.io/article/3444

The only certainty seems we won't go back to an era where the globalisation of gas trade meant a depoliticisation of the market.
Instead, where you source your gas and who's your reference market for exports are equally based on price incentives and political allegiances.

Yet, nobody knows how soon the peace agreement could come, what will happen to the European and Ukrainian winters and energy systems while Russian troops continue to advance in Ukraine and the Kremlin could have a thousand motives to reject negotiating a ceasefire or peace.

Moreover, the belief is that the EU, Ukraine, Russia and the United States have never been closer to concluding a peace agreement. Somebody is even thinking this could bring back Russian gas volumes to the European market, putting an additional downward pressure on prices.

🇺🇸US LNG supplies in the Atlantic Ocean and the coming of the supply glut that many anticipated for years is making physical and virtual actors in the gas market believe instability is gone and from now on we will only experience diminishing prices and no disruption.

🇪🇺EU 79,1% vs 88,24%
🇫🇷France 88,64% vs 84,25%
🇩🇪Germany 71,15% vs 92,84%❗️
🇮🇹Italy 89.97% vs 93,15%
🇳🇱Netherlands 68,91% vs 77,2%

On the other hand, the TTF benchmark price in Europe has counterintuitively descended below the €30/MWh threshold this morning.

during this week, to feel an Arctic burst, keeping gas consumption at a high level, with the consequent usage of storages.
On one hand, the comparison with last year storage level on Nov 22 would raise some alarms as in fact this year's average is close to 9% lower than in 2024:

Last week, gas consumption in Europe experienced a dramatic increase compared to the week before and the use of gas stored during the summer became the largest source to balance the system, with temperatures well below the seasonal average.
Continental Europe will continue, also

Years passed since the first Russian gas curtailments to Europe, the immense disruption brought to the global gas market and historical price spikes. Still, as soon as cold weather descends on Europe the level of gas storage comes back as a crucial topic in energy geopolitics.

A direct link to the article
intelligence.eklipx.io/article/3599

A direct link to the analysis
intelligence.eklipx.io/article/3593