NATGAS: Eurogas Calls for Changes to EC's Proposed Russian Gas Ban
Eurogas has urged changes to the EC’s proposal to phase out Russian gas and LNG imports by 2027, highlighting concerns over confidentiality, flexibility, and energy security, Platts reported.
- In a policy paper released on Aug, 19, the industry group called for simpler reporting rules, clearer definitions, and tighter restrictions on the EC’s power to demand detailed contractual information.
- Eurogas warned that disclosing sensitive terms such as arbitration clauses or force majeure provisions could erode commercial trust and increase legal risk.
- The group also sought assurances that secondary transactions — where gas from long-term contracts is resold into the short-term market — would remain permissible.
- Eurogas further pressed for greater flexibility to amend contracts, suggesting only changes that raise contracted volumes should be restricted, while operational adjustments should remain allowed.
- Legal certainty was another priority. Eurogas urged the EU to provide a clear legal basis for terminating contracts to shield importers from costly litigation.
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ITALY AUCTION PREVIEW: On offer this week
MEF has announced it will be looking to sell the following at its auction this Thursday, July 24.
- E2.25-2.75bln of the 2.10% Aug-27 BTP Short Term (ISIN: IT0005657330)
- E1.25-1.50bn of the 1.10% Aug-31 BTP€i 5 Years (ISIN: IT0005657348)
US: Republican House Majority Shrinks With Green Retirement
House Speaker Mike Johnson's (R-LA) narrow majority in the House of Representatives has shrunk slightly with the resignation of Rep Mark Green (R-TN). The new balance in the House is 219 Republicans and 212 Democrats. The date of a special election to fill Green's seat will be determined by Tennessee Governor Bill Lee (R-TN), who is likely to schedule the election in the solid red seat to take place as soon as possible.
- The new balance means that Johnson can only drop three votes on any piece of legislation, if all members are present and voting.
- With Green's retirement, there are now four vacant seats following the deaths in office of three Democrat Congressmen: Jerry Connolly, Raúl Grijalva, and Sylvester Turner. Special elections to fill the three seats will take place in Connolly's former Virginia 11th District seat on September 9, Grijalva's former Arizona 7th District seat on September 23, and Turner's former Texas 18th District seat on November 4.
- CBS notes that Green said earlier this month, when announcing his resignation, he was returning to the private sector to start his own business, but did not provide details about the business.
MNI EXCLUSIVE: Interviews With Former Fed Assistant General Counsel
- MNI interviews former assistant general counsel to the Fed's Board of Governors on threats to Fed independence -- On MNI Policy MainWire now, for more details please contact sales@marketnews.com
