Who Is Europe’s Top Gas Supplier?
A new BofA Global Research report sent to Rigzone recently has revealed the identity of Europe’s number one gas supplier. According to a BofA Global Research report sent to Rigzone Continue Reading
Euro zone factory activity contracted in July as recession fears grow
Manufacturing activity across the euro zone contracted last month with factories forced to stockpile unsold goods due to weak demand, a survey showed on Monday, adding to concerns the bloc Continue Reading
Eurozone Recovery Picks Up Speed but Ukraine War Threatens Deep Contractions
Western leaders are preparing for the possibility that Russian natural gas flows through the key Nord Stream pipeline may never return to full levels. WSJ’s Shelby Holliday explains what an Continue Reading
Europe’s Race to Secure New Energy Sources Is on a Knife’s Edge
As Russia tightens its chokehold on supplies of natural gas, Europe is looking everywhere for energy to keep its economy running. Coal-fired power plants are being revived. Billions are being Continue Reading
Inflation hits record 8.9% in 19 countries using the euro
Inflation in the European countries using the euro currency shot up to another record in July, pushed by higher energy prices driven partly by Russia’s war in Ukraine , but Continue Reading
Russia cuts gas flows further as Europe issues savings plea
Russia delivered less gas to Europe on Wednesday in a further escalation of an energy stand-off between Moscow and the European Union that will make it harder, and costlier, for Continue Reading
Europe Looks To Fill Storage As It Braces For Permanent Halt Of Russian Gas
Reduced gas flows via the Nord Stream 1 pipeline have further complicated the plan to fill gas storage units across Europe. The goal of the European Union as a whole Continue Reading
Europe agrees emergency gas curbs, Kyiv says Russia supply curbs are ‘price terror’
European Union countries bracing for further cuts in Russian gas supply on Tuesday approved a weakened emergency plan to curb demand, after striking compromise deals to limit reductions for some Continue Reading
European gas prices soar after Russia deepens supply cuts
European gas prices have surged 30 percent in two days after Russia deepened supply cuts to the continent in Moscow’s latest attempt to weaponize energy supplies. Futures contracts for delivery Continue Reading
EU energy ministers adopt 15% gas savings regulation with exemptions
Highlights Political agreement to be specified in coming days Geographical, some sector derogation possible TTF prices rise with focus on demand destruction EU energy ministers have agreed to voluntary gas Continue Reading
Goldman Sees Euro-Area Recession in Second Half of This Year
. The euro area is probably already contracting, according to Goldman Sachs Group Inc. The recession will last until the end of the year, economists led by Jari Stehn said, Continue Reading
Analysis: Russian gas flow too low to fill Europe’s storage
Russia’s cut in supplies through its main gas pipeline to Germany will leave countries unable to meet goals to refill storage and Europe’s biggest economy faced with rationing industry to Continue Reading
EU countries rewrite plan to cut gas demand, seek carve-outs
European Union countries are seeking to soften the bloc’s plan to require them to use less gas as Europe prepares for a winter of uncertain supplies from its main gas Continue Reading
EU looks to replace gas from Russia with Nigerian supplies
The European Union is seeking additional gas supplies from Nigeria as the bloc prepares for potential Russian supply cuts, Matthew Baldwin, deputy director general of the European Commission’s energy department, Continue Reading
Uncertainty Over Russian Gas Supply Threatens EU Cohesion
German Foreign Minister Baerbock urges Canada to deliver gas turbine to Russia. Baerbock: Full stop of Russian gas flows could lead to popular uprisings in Germany. Europe must brace for Continue Reading
EU countries rewrite plan to cut gas demand, seek carve-outs
European Union countries are seeking to soften the bloc’s plan to require them to use less gas as Europe prepares for a winter of uncertain supplies from its main gas Continue Reading
EU debates revised plan to reduce gas use after opposition
European envoys debated revisionson Friday to a proposal by the EU executive that all bloc members cut natural gas use to prepare for potential Russian supply cuts, hoping for a Continue Reading
Europe’s Diesel Market Slides From Mind-Blowing to Amazing
Europe’s diesel market is plunging — from unthinkable highs to levels that would have been incredible at almost any other time in history. About a month ago, a barrel of Continue Reading
Gazprom’s gas flows to Europe via Ukraine stable on Saturday
-Russian gas producer Gazprom (GAZP.MM) said its supply of gas to Europe through Ukraine via the Sudzha entry point was seen at 42.1 million cubic meters (mcm) on Saturday versus Continue Reading
Europe Frets With Gas Flows Still at Risk After Pipeline Restart
Want the lowdown on European markets? In your inbox before the open, every day. Sign up here . Europe is again on edge about potential gas supply disruptions from Russia, Continue Reading
IEA Chief: Europe Must Cut Gas Usage 20% To Survive Winter
After calling on all member states to reduce gas consumption by 15% in the face of the threat of a complete Russian gas cutoff, the IEA says the European Union Continue Reading
Spain, Portugal, Greece Reject EU 15% Gas Usage Cut
Further cracks in a united front to tackle an energy crisis in Europe have arisen Thursday, with Spain, Portugal and Greece rejecting the bloc’s plan to reduce natural gas consumption Continue Reading
Russia resumes gas flows via Nord Stream, Europe still wary
Russia resumed pumping gas via its biggest pipeline to Europe on Thursday after a 10-day outage, the operator said, allaying Europe’s immediate winter supply fears after President Vladimir Putin had Continue Reading
Russia resumes gas flows via Nord Stream, Europe still wary
Russia resumed pumping gas via its biggest pipeline to Europe on Thursday after a 10-day outage, the operator said, allaying Europe’s immediate winter supply fears after President Vladimir Putin had Continue Reading
EU Set to Target 15% Reduction in Natural-Gas Use on Russian Supply Woes
The European Union is set to propose a voluntary 15% cut in natural gas use by member states starting next month on concern Russia may halt supplies of the fuel. Continue Reading
Europe races to cut Russian gas usage amid new Putin warning
The European Union will set out emergency plans on Wednesday to curb gas usage after President Vladimir Putin warned the bloc that Russian supplies sent via the biggest pipeline to Continue Reading
Europe Fears Widespread Economic Fallout if Russian Gas Outage Drags On
As a deadline approaches for Russia to resume supplying natural gas to Germany this week, European officials and executives are growing concerned about a cascading economic fallout that would spread Continue Reading
Russian Gas Supply Halt Risks 1.5% Cut to EU’s GDP in Worst Case Scenario
Gazprom Declares Force Majeure on European Gas Buyers A halt of Russian gas supplies to the European Union could potentially reduce its gross domestic product by as much as 1.5% Continue Reading
EU to call on member states to ‘immediately’ slash gas usage
Brussels is preparing to tell EU members to cut gas consumption”Immediately”, warning that without increased conservation the continent risks running short of fuel this winter as Russia restricts supplies. The Continue Reading
Europe Must Slash Gas Demand Now Before ‘Hard’ Winter, IEA Warns
Europe needs to drastically slash natural gas consumption in the next few months to prepare for what is likely to be “a long, hard winter,” the head of the International Continue Reading
EU could ban some Russian fuel oil imports six months ahead of deadline
The European Union could ban the import and transit of some fuel oil from Russia around six months ahead of the planned deadline, an EU official and four traders told Continue Reading
EU passenger car registrations fall 14% on year in H1: ACEA
New passenger car registrations in the European Union fell 15.4% year on year in June to 886,510 units, bringing the total sales for the first half of 2022 to 4.6 Continue Reading
European Commission approves up to €5.4B of public support for IPCEI Hy2Tech; 41 hydrogen projects
The European Commission approved , under EU State aid rules, an Important Project of Common European Interest (IPCEI) to support research and innovation and first industrial deployment in the hydrogen Continue Reading
EU Stalls on Ukraine Aid as Fears Spike of Gas Crisis at Home
The European Union is falling behind on its high-profile promises to deliver a substantial aid package to Ukraine at the same time the bloc is confronting the prospect of severe Continue Reading
Analysis: Euro is at parity; its fate is now with energy markets
The euro’s tumble below $1 for the first time in two decades puts it on course for one of the worst years in its history, especially if the energy price Continue Reading
Russian gas flows through Ukraine and eastbound Yamal flows steady
Nominations for Russian gas flows into Slovakia from Ukraine via the Velke Kapusany border point were steady on Thursday, while flows via the Nord Stream 1 pipeline remained shut due Continue Reading
Europe on edge as Nord Stream Russian gas link enters shutdown
The biggest single pipeline carrying Russian gas to Germany began annual maintenance on Monday, with flows expected to stop for 10 days, but governments, markets and companies are worried the Continue Reading
European Gas Prices Rise as Nord Stream Works Put Market on Edge
European natural gas prices gained for a second day as traders remain on edge over what to expect when Russia’s Nord Stream pipeline completes maintenance. The pipeline is shut for Continue Reading
Europe’s action in case Russian gas supply stops
European countries are putting plans in place to manage gas supply and even ration power in case Russian gas flows stop completely or a planned outage at the Nord Stream Continue Reading
Euro-Zone Recession Risk Seen Rising Even as Inflation Peak Near
The risk of a euro-area recession is growing as the likelihood of natural gas shortages rises and inflation remains at record levels, according to economists polled by Bloomberg. The probability Continue Reading
Putin warns of ‘catastrophic’ energy crisis if west boosts sanctions
Russian President Vladimir Putin has threatened “catastrophic consequences” for world energy markets if western powers impose further sanctions on Moscow, as G7 members discuss plans to try to cap Russia’s Continue Reading
Lack of baseload drives Winter 2022 European gas to new lifetime high
Highlights NBP front winter hits 443 p/th intraday July 7, TTF Eur182/MWh Contract up sevenfold on year as prompt spikes transposed Four distinct spikes since 2021 as pipeline supply sharply Continue Reading
Russian gas flows to Europe stable via Nord Stream, Ukraine
Russian gas flows to Europe via the Nord Stream 1 pipeline and through Ukraine were stable on Friday, while reverse flows on the Yamal pipeline edged down slightly, operator data Continue Reading
Europe Scoops Up LNG, Choking Off Power Supplies in Poorer Nations
The war in Ukraine is depriving far-away developing countries of electricity, as the world’s supply of liquefied natural gas used to produce power is swallowed up by European nations as Continue Reading
EU plans investment in world’s tallest dam to dent Russia’s energy clout
The European Union plans to become the top investor in the world’s tallest dam in Tajikistan, EU officials told Reuters, in a move aimed at helping Central Asia cut its Continue Reading
EU parliament backs labelling gas and nuclear investments as green
The European Parliament on Wednesday backed EU rules labelling investments in gas and nuclear power plants as climate-friendly, throwing out an attempt to block the law that has exposed deep Continue Reading
Gas Crunch to Haunt Europe for Winters to Come, LNG Lobby Says
Those expecting Europe’s worst energy crisis in decades to ease after this winter are going to be disappointed, according to a major gas lobby. “We might go through the winter Continue Reading
Euro just off two-decade low, volatility at highest since March 2020
Euro just off its two decade low Rising risk appetite support the single currency Swiss Franc hovering around 7-year high vs euro Aussie dollar up on commodity prices rebound July Continue Reading
Russia set to meet just 25% of EU gas demand in 2022: IEA
Russia is expected to meet just 25% of EU gas demand this year, its lowest level in more than two decades, the International Energy Agency said July 5. In its Continue Reading
EUROPE POWER Rising wind supply weighs on spot price
European spot power prices dropped on Wednesday as wind supply in Germany is expected to nearly double, offsetting lower solar production throughout the region and lower French nuclear. “There is Continue Reading