Germany’s energy regulator ruled out winter gas shortages as LNG imports remain stable, even as Houthi forces seized Yemen’s strategic Red Sea port of Mokha. Meanwhile, regional supply threats deepened following drone strikes on Saudi infrastructure and rising fuel prices across Eastern Europe.
Global market
Germany’s Federal Network Agency Head Klaus Müller rejected fears of a winter gas shortage, citing robust liquefied natural gas (LNG) import capabilities. However, geopolitical risks escalated after Iran-backed Houthi militants seized Yemen’s port city of Mokha, securing new leverage over Red Sea oil transit. Additionally, Saudi Arabia’s Foreign Ministry confirmed its East-West pipeline was struck by drones launched from Iraq’s Maysan province. Maritime compliance risks also mounted as EmissionLink Managing Director Philippos Ioulianou warned shipowners of severe financial penalties from delayed EU Allowances (EUAs) transfers under the EU ETS. Meanwhile, VLCC tanker freight rates skyrocketed due to surging prompt shipping demand.
Russia & CIS
Gazprom Neft lifted diesel sales limits at gas stations across Novosibirsk Region, though petrol restrictions remain in place. In Ukraine, retail diesel prices reached 100 hryvnias per liter on September 12. On resource evaluation, researchers at Gubkin Russian State University of Oil and Gas found rock water saturation in Western Siberia’s Bazhenov formation is 1.5 to 7 times higher than previously estimated, forcing a re-evaluation of recoverable oil reserves. Internationally, Russian Ambassador-at-large Marat Berdyev announced a delegation will attend the G20 energy meeting in Houston, while Kazakhstan’s Ministry of Energy confirmed it maintains plans to expand oil production in 2027.
Armenia
Civil Contract Party MP Vilen Gabrielyan stated Armenia could raise rental fees for Russia’s 102nd military base in Gyumri if imported gas prices increase. Concurrently, the Armenian Nuclear Power Plant (NPP) deployed a full-scale operational simulator to train personnel for normal and emergency reactor conditions. Media reports note that the Houthi capture of Mokha presents a severe regional energy supply crisis. Nevertheless, retail petrol, diesel, and natural gas prices in Armenia remain stable under long-term bilateral agreements within the EAEU, shielding consumers from volatile international market price assessments.