Markets

Enel's subsidiary Enel Brasil has presented the best financial offer for the acquisition of approximately 94.8% of the share capital of Celg Distribuição, an energy distribution company that operates in the Brazilian state of Goiás, Enel said.

UK retail supplier GB Energy Supply has ceased trading “due to swift and significant increases in energy prices over recent months,” the company said in a note on its website.

Natural gas demand in Italy so far in November was some 14.7% higher year on year, led by a sharp rise in gas demand from the thermoelectric sector, an analysis of gas grid operator Snam Rete Gas data shows.

The fleet of gas-fired power plants in France is expected to be ready to support the electricity network this winter, with no particular issues expected for the French gas network, according to gas grid operators GRTgaz and TIGF.

Some 5.5 million switches have taken place in the UK this year between January and September – a 28% increase on the same period last year - energy regulator Ofgem’s data shows.

Natural gas demand from power stations across the UK hit a near six-year high on November 23, reaching 79 million cubic meters.

Ukraine's Naftogaz may be “forced to adapt” to current challenging market conditions and “to react to competitive pressure by reviewing its transit fee strategy, potentially even reducing its transit fees” the Oxford Institute for Energy Studies argued.

Gas security at global level might be less solid than what perceived, on the back of LNG markets being “less flexible than is commonly believed” a new report fro the International Energy Agency found.

The gas turbine services market is expected to reach $18.45 billion by 2021, with a compound annual growth of 4.1% between 2016 to 2021, research group MarketsandMarkets said.

Coal-fired electricity is set to be higher year on year over the coming winter, surpassing gas-fired power, which in turn is expected to see a decline in the coming months, the Energy Information Administration said.

The share of electricity generated from gas-fired power plants sold on the Italian day-ahead regulated electricity market soared to 50.7% in October, up from 37.8% the previous year, exchange manager Gestore Mercati Energetici (GME) said in its monthly report.

UK Power Reserve (UKPR) has partnered with Total Gas and Power to deliver Demand Side Response (DSR) and aggregation services to UK electricity market players.

The Power of Siberia and Amur gas processing plant being developed in the Russian Amur region are “running on schedule”, Gazprom said in a statement.

“Preparations are underway for the construction of the cross-border section of the Power of Siberia gas pipeline in Russia” Gazprom said.

Gazprom, CNPC, and China Development Bank Corporation have signed agreements to widen their cooperation in the energy sector.

Global energy markets are likely to see natural gas and renewables consolidate and further expand their predominance in the energy mix to 2040, rising respectively by 49% and 78% from 2014 levels, against a progressive decline in the role of coal and oil, the International Energy Agency said.

In its latest edition of the World Energy Outlook, IEA said that “renewables and natural gas are the big winners in the race to meet energy demand growth until 2040.”

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