European benchmark natural gas prices surged 2.15% to $83.76 per MWh as US-Iran negotiations over the Strait of Hormuz hit a stalemate, while TotalEnergies unveiled plans for 3% annual production growth through 2030. Meanwhile, Yerevan hosted key talks on extending the operational lifespan of the Armenian Nuclear Power Plant’s Unit 2, and Samara region lifted retail fuel limits.
Global market
European benchmark natural gas futures on the Dutch TTF hub rose 2.15% to $83.76 per MWh (€73.62) in Amsterdam trading on Monday due to a diplomatic deadlock between the US and Iran over reopening the Strait of Hormuz. In corporate developments, French supermajor TotalEnergies announced a strategy to grow oil and gas output by more than 3% annually through 2030, targeting positive free cash flow for its Integrated Power unit by 2027. In the UK, grid operator NESO issued a warning of a 1.4 GW power margin shortfall for Monday’s evening peak. Additionally, the WSJ reported Canada’s plans to expand oil export infrastructure capacity to 6.8 million bpd by 2034, while Chinese shipbuilders like Hengli Heavy Industry expanded into LNG carriers.
Russia & CIS
In Samara Oblast, authorities will completely remove retail fuel sales limits after September 30 following fuel market stabilization across local filling stations. In Moscow Oblast, the regional Ministry of Energy announced the heating season will start on October 1, with full connection of residential and social facilities by October 10. In industrial energy, Sinara-Development completed a 10.75 MW boiler house for the Ural Locomotives high-speed train complex in Verkhnyaya Pyshma. In Moldova, former President Igor Dodon called for early elections following a 28.8% spike in gas tariffs. Meanwhile, Saudi Arabia resumed oil pumping through its East-West pipeline previously damaged in September attacks.
Armenia
In Yerevan, the Joint Coordination Committee held its 5th meeting to discuss the second life-extension program for Unit 2 of the Armenian Nuclear Power Plant, news.am reported. Armenian analysts also tracked Saudi Arabia’s pipeline restart bypassing the Strait of Hormuz as regional energy security remains paramount. Nevertheless, retail prices for petrol, diesel, and compressed natural gas in Armenia remain stable. Natural gas imports and operations at the Armenian Nuclear Power Plant proceed reliably under long-term EAEU trade agreements shielding domestic consumers from global price volatility recorded by international market price assessments.