Belgrade and Gazprom extended their gas supply agreement through the end of the year on preferential terms, as German Economy Minister Katherina Reiche ordered state energy firm SEFE to accelerate gas storage injections. Meanwhile, Czech Prime Minister Andrej Babiš and Italian Prime Minister Giorgia Meloni called for a revision of the EU carbon emissions quota system to curb rising energy costs.
Global market
China’s benchmark thermal coal prices at Qinhuangdao surged for 11 consecutive weeks to a three-year high of 986 yuan ($147) per ton, driven by lower domestic output and reduced Indonesian imports. Concurrently, analysts cut China’s fourth-quarter crude import forecasts by 400,000 barrels per day as Brent crude held above $100 per barrel. In financial markets, foreign investors pulled $3.2 billion from Indian stocks and bonds, marking the largest capital flight since March due to elevated crude costs. In Europe, Czech Prime Minister Andrej Babiš and Italian Prime Minister Giorgia Meloni announced plans to propose EU emissions trading system (ETS) reforms, while September marked the most expensive fuel month on record for German drivers.
Russia & CIS
Gazprom and Serbian state energy company Srbijagas extended their Russian gas supply contract through the end of 2026 under existing preferential terms, confirmed Srbijagas Director General Dušan Bajatović. To mitigate European energy risks, German Economy Minister Katherina Reiche instructed state-owned SEFE to accelerate gas storage injection rates following low inventory warnings from Brussels. In commodity exports, Bloomberg reported Russia earned a record $2.75 billion from weekly crude exports, reaching its highest weekly revenue since early 2022. Meanwhile, IAEA Director General Rafael Grossi warned of persistent safety risks at the Zaporizhzhia Nuclear Power Plant due to recurring power disruptions.
Armenia
The Public Services Regulatory Commission of Armenia established a new mandatory requirement for publishing power factor coefficients in the electricity system to enhance grid transparency, news.am reported. Local energy observers noted that Middle East crude exports via the Strait of Hormuz recovered to nearly 13 million barrels per day, reaching 98% of pre-war levels according to am.sputniknews.ru. Retail prices for petrol, diesel, and compressed natural gas in Armenia remain stable. Natural gas supplies and operations at the Armenian Nuclear Power Plant proceed without disruption under long-term EAEU trade agreements shielding domestic consumers from global price volatility recorded by international market price assessments.