Western Balkans Gas Links: North Macedonia’s NOMAGAS and Serbia’s Transportgas Serbia joined Bulgartransgaz’s Vertical Corridor MoU in Thessaloniki, expanding the Bulgaria–Greece–Romania–Hungary–Slovakia–Ukraine–Moldova–North Macedonia–Serbia network with plans for more bidirectional capacity and cross-border coordination. North Sea Supply Push: Nogat advanced work on the first direct Norway–Netherlands gas pipeline, targeting 2029 start-up and 4+ bcm/year capacity to cut reliance on the UK–Germany–Belgium route. UK North Sea Decision Pressure: Business leaders urged ministers not to delay approvals for the Jackdaw gas field and to keep momentum on Rosebank, warning delays could undermine North Sea investment and energy security. Gas Prices Watch: European gas prices ended the week higher as Middle East tensions and Strait of Hormuz uncertainty lifted supply concerns. Grid Sabotage Alarm in Germany: Police found devices and investigated suspected sabotage at substations in NRW and Saxony, with authorities linking incidents to broader hybrid threats. Falklands Oil Row Escalates: Argentina’s Milei threatened sanctions on firms drilling near the Falklands, targeting the Sea Lion project and raising stakes with Britain as energy becomes a sovereignty lever. EU–Iran Pressure: The EU officially joined the US “Operation Economic Outcast” against Iran, while also calling for diplomacy and safe navigation through the Strait of Hormuz. Venezuela Oil Deal Momentum: Reuters reports Eni improved its odds of recovering $2.3bn in Venezuela receivables via a new Junin 5 heavy oil project deal with PDVSA.