Energy

Gazprom says Nord Stream 1 resumption depends on Siemens Energy

Russian natural gas pipeline Nord Stream 1 will not resume shipments until Siemens Energy ENR1n.DE repairs faulty equipment, Gazprom’s Deputy Chief Executive Officer Vitaly Markelov told Reuters on Tuesday. “You should ask Siemens. They have to repair equipment first,”…

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G7 company emissions falling short of global climate goal, study shows

Companies in the Group of Seven (G7) economies are failing to meet Paris Climate Agreement objectives, non-profit disclosure platform CDP and global management consultancy Oliver Wyman said on Tuesday, based…

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Elon Musk says the world still needs oil and gas

The world must continue to extract oil and gas in order to sustain civilisation, while continuing to also develop sustainable sources of energy, Tesla founder Elon Musk told reporters at…

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UK’s Truss says Ukraine grain shipment “important first step”

Britain's Foreign Secretary Liz Truss called the first grain shipment from the Ukrainian port of Odesa since Russia's invasion in February an "important first step," and called on Moscow not to "weaponise…

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Malta and Ireland secure exemptions from EU gas deal to voluntary cut usage

Energy ministers approved a proposal for all EU countries to voluntarily cut gas use by 15% from August to March. The cuts could be made binding in a supply emergency,…

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EU Energy Ministers seek common ground on possible gas cuts

Russian gas giant Gazprom's announcement that it will further slash deliveries to Europe this week is politically motivated, European Union energy chief Kadri Simson said on Tuesday (July 26), disputing the company's claim that…

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EU says planning for all Nord Stream 1 scenarios, including no restart

The European Commission is planning for all scenarios regarding gas flows to Europe through Russia's Nord Stream 1 pipeline, including the possibility that deliveries do not restart on Thursday when maintenance on…

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Italy looks at ways to curb gas consumption as Russian flows wane

Italians could be encouraged to turn down the heating in winter and spend less time in the shower as reduced gas flows from Russia focus minds on how to cut…

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EU ministers seek deals on climate laws as economy woes test green pledges

LUXEMBOURG (Reuters) -European Union ministers began talks on Monday to approve new laws to fight climate change, but diplomatic sources said economic pressures could prompt efforts to water down some of the…

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Sunny Spain’s green energy plan leaves needy feeling cold

Standing by his swimming pool at his home in an affluent Madrid suburb, retired engineer Juan Manuel Cosmes Cuesta enthuses over the 30% state subsidy he will get for installing…

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Poland to offer capacity on gas links with Denmark, Slovakia, Lithuania

Poland's state owned gas pipeline operator Gaz-System will next month auction capacity to ship the fuel via new interconnections with Denmark, Slovakia and Lithuania. Auctions to book annual capacity on…

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Divisive ‘green’ gas investment rules face EU Parliament vote

Two European Parliament committees vote on Tuesday on an attempt to stop the EU labelling gas and nuclear energy as climate-friendly investments, and the outcome may indicate whether the full parliament will…

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Summer fuel shortages looming over Europe – IEA Chief

Europe could face fuel shortages this summer due to squeezed oil markets, the head of the International Energy Agency, Fatih Birol, told Germany's Spiegel. "When the main holiday season starts…

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Russia widens Europe gas cuts as Gazprom halts Dutch trader’s supply

Russia widened its gas cuts to Europe on Tuesday with Gazprom turning off supply to top Dutch trader GasTerra escalating the economic battle between Moscow and Brussels and pushing up European gas prices. The move comes a…

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EU Agreement on gas storage is unprecedent – former EP President

EU countries have committed to filling underground gas storage facilities on their territory, aiming for 85% - at least - of their capacity by 1 November 2022 as Member States…

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EU plans first joint gas buying before winter

The European Union plans to start jointly buying gas before winter, the bloc's energy policy chief said on Monday, as it seeks to cut reliance on Russian fossil fuels and build a buffer…

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Stop relying on Russia, Ukraine warns Europe after gas shutoff

Europe should stop depending on Russia for trade after Moscow halted gas supplies to Bulgaria and Poland for not paying in roubles, Ukraine said, as the shutoff exposed the continent's…

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Spain, Portugal urged not to act alone on high electricity prices

Power trading platforms are urging the Spanish government not to intervene alone in the system that sets the price of electricity, in its bid to bring down sky-high utility bills,…

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Balkans turns to coal as energy crisis trumps climate commitments

Balkan nations in southeast Europe are turning to coal as they try to tackle a global surge in energy prices, raising fears among environmentalists that countries are rowing back on…

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German gas reserves can last until late summer, says regulator

Germany's gas reserves would last until at least late summer should Russian supplies stop now, the network regulator said on Tuesday, warning pressure on the European Union to ban Russian…

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Italy clinches gas deal with Algeria to temper Russian reliance

Italy clinched an agreement on Monday to ramp up gas imports from Algeria by around 40% in its first major deal to find alternative supplies following Russia's invasion of Ukraine.…

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Russia maintains gas deliveries as Europe mulls tighter sanctions

Russia maintained gas flows through key pipeline routes into Europe on Monday, despite uncertainty over payment terms and as the EU said it would "significantly tighten" further sanctions against Moscow…

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Barclays says Ukraine crisis may hinder progress on climate goals

British bank Barclays said on Tuesday disruption in energy markets since Russia's invasion of Ukraine could hamper its ability to meet its carbon emission reduction targets. In a notice ahead…

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EU countries fail to agree on sanctioning Russian energy sector

The European Union's foreign ministers disagreed on Monday on whether and how to slap sanctions on Russia's lucrative energy sector over its invasion of Ukraine, with Germany saying the bloc…

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EU Finance Ministers seek common ground on energy strategy

European Union finance ministers on Tuesday (March 15) met to define a common EU strategy in a context of spiking energy prices due to Russia's invasion of Ukraine. Global energy market…

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Developments in Ukraine accelerate need for Social Climate Fund – MEP David Casa

CDE News - Strasbourg The aggressive invasion of Ukraine by the Russian Federation and the consequent European need to cut off its dependency on Russian gas has accelerated the need…

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Commission publishes plan to cut EU dependency on Russian gas

The European Commission published plans on Tuesday to cut EU dependency on Russian gas by two-thirds this year and end its reliance on Russian supplies of the fuel "well before 2030". Oil and gas…

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Nord Stream 2 owner considers insolvency after sanctions

Nord Stream 2 AG, which is registered in Switzerland and owned by Russian state-owned gas giant Gazprom , last year completed the $11 billion project which was designed to double…

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Russian-German energy cooperation is a priority, Putin tells Scholz

Russian-German energy cooperation is a priority for Moscow, which views Berlin as one of its main partners, Russian President Vladimir Putin told German Chancellor Olaf Scholz ahead of talks in…

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Belgium to cut VAT in response to energy price spike

Belgium will cut value added tax on electricity as part of a package to shield consumers from rising energy prices, the prime minister said on Tuesday. European gas and power…

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Fossil fuel subsidies to face tighter EU scrutiny

The European Commission wants to increase scrutiny of whether countries are phasing out fossil fuel subsidies fast enough to meet climate goals, under EU rules due this year. EU countries spent 56 billion euros on fossil fuel subsidies in 2019, with 15 states spending more…

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US seeks to protect Europe’s energy supplies if Russia invades Ukraine

Western leaders stepped up preparations for any Russian military action in Ukraine on Tuesday, with the United States focusing on how to protect energy supplies and Britain urging other European…

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Germany cannot rule out Nord Stream 2 as means of pressure, says foreign policy expert

Germany cannot rule out using the Nord Stream 2 pipeline as a means of pressure against the Kremlin in case of further Russian aggression towards Ukraine, a senior official from…

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Belgium can extend life of nuclear reactors if it acts soon, watchdog says

Belgium's nuclear regulator gave a provisional green light on Monday to extend the life of two of the country's nuclear power reactors and urged the government to make a final…

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Gas can be useful in the energy transition – EPP

The Group of the European People's Party expressed support to an EU decision to label gas and nuclear energy as green, saying that gas can help facilitate the energy transition, though…

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Trafigura warns of power outages in Europe this winter

Europe is at risk of power outages this winter due to insufficient gas reserves and over the long-term, oil could rise above $100 a barrel, the chief executive of commodity…

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French families grapple with high electricity prices

Jacques Kadio has already cut his grocery bill, refuels his car less and turns the heating off when his children are at school, but still the spiralling cost of electricity…

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Divergences evident among EU countries on response to energy price spike

Divisions deepened among European Union countries ahead of an emergency meeting of ministers on Tuesday on the bloc's response to a spike in energy prices, with some countries seeking a regulatory overhaul and…

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Power squeeze curbs Chinese growth, leaves Europe in a gas bind

China's power shortages hit growth in the world's second biggest economy, threatening more pain for global supply chains, while Europe's gas squeeze looked set to continue as Russia's Gazprom showed no sign of hiking…

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Hungry for fuel, China looks to the U.S., Europe eyes relief plans

China's energy crisis deepened on Friday with coal prices hitting a record high as cold weather sweeps in and soaring gas prices prompting major energy companies to seek long-term deals with U.S. suppliers, sources told Reuters. Energy security has…

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EU to study joint natural gas buying to protect against price surges

The European Union will look into an option for member states to jointly buy natural gas as the bloc considers ways to protect itself against surging energy prices, according to a draft document…

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France, Spain urge pan-European response to energy price surge

France and Spain called on Monday (October 4) for a coordinated European response to the surge in global energy prices to protect the poorest citizens and the competitiveness of companies, and to…

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Shell’s UK power retailer to grow by 25% after rival’s default

Royal Dutch Shell's British power retail business will grow by over a quarter after it took on 255,000 customers from a rival supplier that defaulted following the recent surge in natural gas…

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Europe’s energy firms locked out of record price bonanza

Several European power firms have been shut out of bumper revenues from record high gas and electricity prices as their sales are largely locked in at lower prices, and face…

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Norway promises Europe more gas as prices soar

Norway agreed on Monday to increase natural gas exports to the rest of Europe as record high wholesale natural gas prices prompted suppliers in Britain to seek state support and raised fears of a food supply crunch.…

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U.S., European lawmakers issue statement opposing Nord Stream 2

The chairman of the U.S. Senate Foreign Relations Committee issued a statement on Monday, along with counterparts from several European parliaments, opposing the recent agreement between Washington and Germany to allow completion…

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Pandemic recovery to push emissions to all-time high – IEA

The global rebound from the COVID-19 pandemic is set to drive emissions of greenhouse gases that stoke climate change to all-time highs, the Paris-based International Energy Agency said in a report on Tuesday.…

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Malta wants gas to be classed as sustainable investment under EU finance rules

Malta, Poland, Bulgaria and six other countries have stepped up their push to ensure natural gas is classed as a sustainable investment under EU finance rules, warning Brussels its latest…

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Qatar tightens global gas market grip with bold expansion moves

Qatar Petroleum, the world's top liquefied natural gas (LNG) producer, is cranking up the pressure on high-cost rivals with bold expansion plans that will boost supplies over the coming decade and potentially push…

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Russia suspends gas transit to Kazakhstan after explosion

Russia suspended gas transit to Kazakhstan on Tuesday after an explosion on a gas pipeline in the Orenburg region and emergency services were being deployed to the area, the energy ministry…

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EU Council adopts conclusions on climate and energy diplomacy

EU Foreign Ministers have reached agreement on a numebr of Climate and Energy Diplomacy targets, with the intended objective of delivering on the external dimension of the European Green Deal. The Council recognised…

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Just over 20% of energy used for heating and cooling is renewable

In 2019, renewable energy accounted for 22.1% of total energy use for heating and cooling in the EU, according to figures released by Eurostat. At 25%, Malta's rate was slightly…

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2020: A challenging year for oil

This year was like no other for oil prices. Even as global prices end the year at about $51 a barrel, near the average for 2015-2017, it masks a year of volatility.…

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Carbon neutrality strategy should address different reality of Member States – Miriam Dalli

Energy Minister Miriam Dalli has called on the Energy Council of Ministers to support a carbon neutrality strategy that addresses the different realities of the European member states, understanding that…

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UN calls Development Banks to stop backing fossil fuel projects

United Nations Secretary-General Antonio Guterres on Monday urged development banks to stop backing fossil fuel projects, raising the pressure on the state-backed lenders ahead of a climate change summit France…

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Saipem to build 450 MW offshore wind farm in Italy

Italy's Saipem has signed an agreement to build a 450 megawatt (MW) offshore wind farm in the Adriatic Sea in northern Italy, the energy services group revealed. Saipem has agreed…

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South Africa consults with industry on nuclear power plans

South Africa’s energy ministry began consultations with industry on preparations for a proposed 2,500 megawatt (MW) nuclear power plant building programme, which has faced opposition from environmental campaigners. South Africa…

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