Putin’s War Throws Crucial EU Vote on ‘Green’ Gas Into Doubt
European lawmakers are under pressure from Ukraine to block plans to treat gas as a green asset, plunging into serious doubt an EU Parliament vote that not long ago seemed Continue Reading
Europe Gas Trades Near 4-Month High With Norway, Russia in Focus
European natural gas prices extended gains to the highest level in almost four months on persistent supply concerns amid the worst energy crunch in decades. Benchmark futures jumped as much Continue Reading
Europe Gas Trades Near 4-Month High With Norway, Russia in Focus
European natural gas prices extended gains to the highest level in almost four months on persistent supply concerns amid the worst energy crunch in decades. Benchmark futures jumped as much Continue Reading
European Gas Extends Blistering Rally as Supply Woes Deepen
Natural gas in Europe rose to the highest level in almost four months as planned strikes in Norway threaten to further tighten a market that’s already reeling from Russia’s supply Continue Reading
Eurozone inflation hits record 8.6% in June
Price growth in the eurozone hit a record high of 8.6 percent in the year to June, intensifying tensions between rate-setters at the European Central Bank over the speed of Continue Reading
The Great European Energy Market Bailout Is Only Getting Started
Three decades ago, Europe decided to open up its energy markets to foster competition, a move meant to bring lower prices for consumers across the continent. Fast forward to 2022, Continue Reading
EU Imports More U.S. LNG Than Russian Pipeline Gas For The First Time Ever
For the first time in history, U.S. LNG overtakes Russian piped gas in EU. IEA: The drop in Russian supply calls for efforts to reduce EU demand to prepare for Continue Reading
Europe’s Power Prices Surge As Market Fears Worsening Supply Crunch
Electricity prices in Europe are soaring again as the market starts to fear that energy shortages this winter would be much larger than expected a few weeks ago. The German Continue Reading
Euro-Zone Inflation Hits Record in Boost for Big-Hike Calls
First ECB rate increases in over a decade to kick off in July Photographer: Andrey Rudakov/Bloomberg Euro-area inflation surged to a fresh record, surpassing expectations and bolstering calls for the Continue Reading
European Gas Prices Rise as Supply Risks Add to Storage Concerns
Europe may struggle to tap LNNG to replace missing Russian supply. Source: Bloomberg Natural gas prices in Europe increased on Wednesday amid risks that the supply situation could deteriorate as Continue Reading
US to boost Europe military presence as Nato strengthens defences
The US will increase its military deployments in Europe as part of a scaling up of Nato defenses, President Joe Biden said, in response to Russia’s invasion of Ukraine. Biden Continue Reading
In Blow to Putin, Turkey Won’t Bar Sweden and Finland From NATO
NATO’s top official said Tuesday that Turkey had dropped its objections to the membership of Sweden and Finland, two historically nonaligned nations that, alarmed by Russia’s invasion of Ukraine, have Continue Reading
IEA: Europe Will Have To Cut Gas Usage By Nearly One-Third
In the first quarter of next year, the countries of the European Union will have to cut their usage of natural gas by up to 30% in preparation for a Continue Reading
EU expects more Russian gas cuts, readies plan to curb demand
A “serious disruption” to the European Union’s gas supplies from Russia is likely, the bloc’s energy chief said on Monday as she urged countries to update their contingency plans for Continue Reading
Norway, EU agree closer cooperation on batteries, raw materials
Norway and the European Union will closely cooperate on battery value chains and raw material supply as part of efforts to tackle climate change, they announced during a Norway visit Continue Reading
Gas Jumps as Europe Struggles to Fill Russian Supply Gap
European natural gas prices rose as Russia’s deep supply cuts are slowing the pace of refilling storage sites, threatening to fall short of the levels required to keep homes warm Continue Reading
G7 summit: Leaders detail $600bn plan to rival China’s Belt and Road initiative
Leaders of the G7, including US President Joe Biden (L) and UK Prime Minister Boris Johnson (R), proposed a plan geared towards competing with China’s Belt and Road Initiative G7 Continue Reading
G7 considering ways of capping Russian oil price, German official says
Leaders of the Group of Seven rich democracies are having “very constructive” discussions on a possible cap on Russian oil imports, a German government official said on Saturday shortly before Continue Reading
G-7 Latest: Leaders to Commit to Indefinite Support for Ukraine
Joe Biden and Olaf Scholz on the first day of the Group of Seven (G-7) leaders summit, June 26. Bloomberg News Group of Seven leaders will commit to providing indefinite Continue Reading
Gas Jumps as Europe Struggles to Fill Russian Supply Gap
European natural gas prices rose as Russia’s deep supply cuts are slowing the pace of refilling storage sites, threatening to fall short of the levels required to keep homes warm Continue Reading
EU Nations Brace for Spat Over Flagship Fund to Help Green Shift
European Union governments are poised for a fight over the the size of a fund designed to cushion some consumers from costs in a new carbon market, with France to Continue Reading
Nato set to bolster defence of Baltics against Russian threat
Nato is to agree an overhaul of its battle plans to offer better protection to the alliance’s eastern flank, tearing up a model that could have meant relinquishing and then Continue Reading
EU Council adopts new minimum gas storage rules in final step of approval
Highlights Follows European Parliament approval on June 23 EU stocks currently at 55.7% of capacity European gas prices remain at sustained highs The EU’s new rules on minimum gas storage Continue Reading
Analysis: Running short of gas: Russia’s pipeline repair has Europe worried
When Russia turns off the gas through the Nord Stream 1 pipeline for maintenance in July, Europe is starting to worry that it won’t turn it back on again. This Continue Reading
EU plan for life without Russian gas a priority as leaders meet
EU leaders will on Friday discuss how the bloc would cope without Russian gas, and are expected to accuse Moscow of “weaponising” energy via a supply squeeze that Germany warned Continue Reading
EU plan for life without Russian gas a priority as leaders meet
EU leaders will on Friday discuss how the bloc would cope without Russian gas, and are expected to accuse Moscow of “weaponising” energy via a supply squeeze that Germany warned Continue Reading
Ukraine takes tentative step towards EU membership
Ukraine will be accepted as a candidate to join the European Union on Thursday, a move that will boost the country’s morale as the battle with Russian troops for two Continue Reading
Japan asks EU to ‘avert impact’ of Russian shipping insurance ban on Sakhalin oil
Highlights METI requests exception for Sakhalin 1, 2 equity oil liftings No Japanese refiner imports Russian crude currently: PAJ chief Japan’s Ministry of Economy, Trade and Industry has requested the Continue Reading
Europe faces ‘scramble’ to replace dwindling Russian energy – IEA
Europe must race to replace sanctioned and curtailed Russian energy supply and should double down on efficiency and renewables, including nuclear power, the International Energy Agency (IEA) said on Wednesday. Continue Reading
IEA chief warns Europe to prepare for total shutdown of Russian gas exports
The International Energy Agency has warned that Europe must prepare immediately for the complete severance of Russian gas exports this winter, urging governments to take measures to cut demand and Continue Reading
Europe Faces “Red Alert” For Gas Supply As Russia Reduces Flows
Russia’s Gazprom significantly reduced gas flows to European consumers this week. WoodMac: unless Europe takes additional supply and demand measures, its storage refill this year is at risk. Benchmark European Continue Reading
EU warns against fossil fuel ‘backsliding’ as coal replaces Russian gas
The European Commission president has warned EU member states not to backtrack on their long-term drive to cut fossil fuel use, as Germany, Austria and the Netherlands said they would Continue Reading
EU Signs Strategic Partnership With Oil, Gas-Rich Gulf Nations
The European Union today said it would form a “strategic partnership” with the Gulf Cooperation Council and its Member States “as part of enhancing engagement in the broader region,” the Continue Reading
Moscow fumes over EU blockade of Baltic outpost
Russia summoned the European Union’s ambassador in Moscow on Tuesday, fuming over a rail blockade that has halted shipments of many basic goods to a Russian outpost on the Baltic Continue Reading
NATO warns of long Ukraine war as battles in the east grind on
The war in Ukraine could last for years, the head of NATO said on Sunday, calling for steadfast support from Ukraine’s allies as Russian forces battle for territory in the Continue Reading
Ukraine turns to EU as Russian invasion cuts off regular fuel supplies
Ukraine has been forced to seek alternative fuel supplies as the Russian invasion hits its traditional supply routes, leaving the war-torn country with acute petrol shortages. A Russian naval blockade Continue Reading
Russian gas to Europe falls short as heatwave drives demand
Italy receives 50% less gas than requested on Friday Germany’s Uniper receives 60% less gas Russia says must wait and see over equipment return Countries need to build up storage Continue Reading
Ukraine to start power trading with EU in June
Ukraine is expected to start selling electricity to Slovakia and Hungary this month, a move that could boost revenues for power generators in the country, sources told Reuters. The expansion Continue Reading
EU backs Ukraine’s membership bid to ‘live the European dream’
The European Union gave its blessing on Friday for Ukraine and its neighbor Moldova to become candidates to join the bloc, reaching out deep into the former Soviet Union for Continue Reading
Russia Steps Up Pressure on European Gas Supplies
France’s gas network manager, meanwhile, said no gas had flowed into the country through its border with Germany since Wednesday. And in Italy, the eurozone’s third-biggest economy, Eni SpA said Continue Reading
France, Germany, Italy, Romania Back Ukraine’s Bid for EU Membership
Latest The talks in Kyiv come a day after the U.S. announced it would send $1 billion in new military aid to Ukraine. Ukrainian troops defending Severodonetsk are clinging on Continue Reading
Gas Prices In Europe Jump Higher On Latest Gazprom Supply Cuts
German Economy Minister Habeck: reduction of Nord Stream 1 gas flows is a political decision. Gazprom further cut volumes to Germany on Wednesday. European gas benchmark prices soared on Wednesday Continue Reading
Europe Follows U.S. Fed With Record-Breaking Rate Hikes
Following the U.S. Fed’s biggest rate hike since 1994 on Wednesday, which brought oil prices down 1%, central banks across Europe on Thursday raised interest rates by record amounts in Continue Reading
Spain, France to see historic June heatwave through weekend
A punishing heat wave is underway in parts of Western Europe, with widespread temperatures near or above 104 degrees Fahrenheit (40 Celsius) expected through the weekend. Heat is expected to Continue Reading
Outages And Reduced Russian Flows Send European Gas Prices Soaring
European gas prices have soared by as much as 50% in just one week. The surge in prices was spurred by reduced Russian flows and an outage at a key Continue Reading
Nord Stream 1 gas supply cut aimed at sowing uncertainty, Germany warns
Russia’s Gazprom (GAZP.MM) on Wednesday announced a further cut in the amount of gas it can pump through the Nord Stream 1 pipeline to Europe, a move Germany’s economy minister Continue Reading
Russia Steps Up Energy Wars With Gas Cuts to Europe’s Top Buyers
Flows of gas into Nord Stream will drop to as much as 67 million cubic meters per day. Source: Bloomberg Bloomberg News Russia stepped up the use of energy as Continue Reading
Russian gas flows to Europe fall further amid diplomatic tussle
Supply via Nord Stream 1 to Germany cut to 40% capacity Europe’s benchmark gas price jumps 25% in morning trade Gazprom blames cuts on delayed return of equipment from Canada Continue Reading
Divisive ‘green’ gas investment rules face EU lawmaker vote
Two European Parliament committees vote on Tuesday on an attempt to stop the EU labeling gas and nuclear energy as climate-friendly investments, and the outcome may indicate whether the full Continue Reading
EU looking to step up energy cooperation with Israel: von der Leyen
EC president points to planned gas, electricity connections EC on the hunt for alternatives to Russian gas after ‘blackmail’ Israeli gas reserves seen at 921 Bcm, more exploration planned The Continue Reading