CDE News

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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Germany sees no gas supply shortages – energy ministry

Germany does not currently see any gas supply shortages, a ministry spokesperson said on Wednesday when asked if the government will take action to fill the country's storage tanks in…

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Europe made mistake in ditching long-term hedging gas deals – Putin

MOSCOW, Oct 6 (Reuters) - Russian President Vladimir Putin said on Wednesday that Europe had made a mistake by reducing the share of long-term deals in natural gas trade and…

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Oil climbs past $81 with OPEC+ sticking to output increase

Oil jumped to a three-year peak on Monday after OPEC+ confirmed it would stick to its current output policy as demand for petroleum products rebounds across the world. The producer…

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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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EU not leading by example on green investing, auditors say

The European Union is not doing enough to steer its own spending away from polluting activities or to mobilise private funds for green investments, the European Court of Auditors (ECA)…

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Soaring gas prices, colder winter could boost oil prices, says Goldman

Goldman Sachs said that with the surge in global gas prices, a colder winter in Europe and Asia could in turn boost demand for oil, driving a $5 per barrel…

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Hungary, Russia plan to sign vaccine production deal, new gas supply contract -minister

Hungary is in advance talks with Russia on a licence-based production of the Sputnik V COVID-19 vaccine in Hungary that could start from the end of 2022, Hungarian Foreign Minister Peter Szijjarto said on Tuesday.…

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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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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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Gazprom pauses gas supply to Russia’s Kaliningrad region

Russian gas producer Gazprom has suspended natural gas supplies to the west Russian enclave of Kaliningrad since Monday, according to the gas transmission operator in neighbouring Lithuania. Gazprom has a transit…

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Ukraine gas pipeline explodes, no casualties, transit unaffected

KYIV, Jan 9 (Reuters) - Part of a gas pipeline exploded in central Ukraine on Saturday but there were no casualties or injuries and gas transit to Europe was not…

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In boost to climate action, Britain to stop backing overseas oil and gas projects

LONDON, Dec 11 (Reuters) - British Prime Minister Boris Johnson will pledge to end direct government support for overseas fossil fuel projects at a U.N. summit on Saturday, aiming to spur similar moves by…

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East Mediterranean states formally establish Egypt-based gas forum

Six states signed a charter for an Egypt-based energy forum on Tuesday, giving formal status to a group that seeks to promote natural gas exports from the eastern Mediterranean and…

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Underground gas pipeline explosion kills 11 in Bangladesh

An underground gas pipeline near a mosque exploded during evening prayers outside the capital of Bangladesh, leaving at least 11 Muslim worshipers dead and dozens injured with critical burns, officials…

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UPDATED: Pipeline rupture halts gas flows from Bulgaria to Greece

A rupture in a pipeline in southwest Bulgaria on Monday halted the transit of Russian natural gas through Bulgaria to Greece, the head state gas company Bulgartransgaz said. Vladimir Malinov…

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Azerbaijan flags alarm on oil and gas supplies to Europe

Azerbaijan warned on Saturday about security risks to the oil and gas it supplies to European markets due to the outbreak of hostilities at its border with Armenia. Elshad Nassirov,…

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Italy’s Eni makes gas discovery in Mediterranean Sea off Egypt

A new gas discovery was declared in the Mediterranean sea offshore Egypt. In a statement, Italy’s Eni said that it has successfully drilled the first exploration well in the…

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Global gas demand on course for biggest annual fall on record

The coronavirus crisis and a very mild winter in the northern hemisphere have put global natural gas demand on course for the biggest annual fall on record, the International Energy…

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Eight EU states make case for natural gas industry

Eight EU countries published a joint position paper to highlight the potential of natural gas in the European strategy towards a net-zero emissions policy. The document is signed by…

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European gas prices hit new lows as demand weakens, supply rises

European gas prices are hitting new lows due to high temperatures, strong renewables generation and rising supplies from pipelines and liquefied natural gas. With gas storage at record highs and…

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Israel, Greece and Cyprus set to seal €6bn gas pipeline deal

Israel, Greece and Cyprus are set to sign a trilateral agreement that will lay the groundwork for a planned gas pipeline connecting Israel’s offshore fields with Europe but which risks…

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Gas is on its way out in Dutch kitchens

Dutch research by environmental lobby group Natuur en Milieu announced that the use of gas is on its way out in Dutch kitchens. Last year, gas hobs accounted for just…

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Turkey says another drill ship en route to eastern Mediterranean

Two Turkish drill ships are continuing operations in the eastern Mediterranean and another ship will join them this month, Energy Minister Fatih Donmez said, as a dispute over natural resources…

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Panic as gas released in the London Underground

Police are looking for two men after a gas was released on a Tube train in London. People were treated at the scene for coughing and lack of breath,…

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EU signals sanctions on Turkey over Cyprus drilling

The European Union will put on hold high-level talks with Ankara and negotiations on an air transport agreement, as well as freezing funding for Turkey next year, over “illegal” drilling…

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UPDATED: Washington urges Turkey to halt drilling operations off the coast of Cyprus, Ankara reacts to EU warning

UPDATED: Turkey said on Wednesday it rejected Greek and European Union assertions that Turkish drilling for gas and oil off Cyprus was illegitimate, and said it showed the EU could…

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Turkey to launch second drilling vessel for natural gas operations near Cyprus

Reuters reports that Turkish Energy Minister Fatih Donmez announced that Turkey will launch a second drilling vessel, the Yavuz, on Thursday that will begin natural gas operations near Cyprus at…

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Cyprus expresses anger at UK about comments on offshore economic rights

President Nicos Anastasiades of Cyprus said his government would lodge a complaint to British Prime Minister Theresa May over remarks by Britain's Foreign Office minister that Nicosia considers"unacceptable" remarks.…

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Utilities prices across Europe enjoy windfall in view of excess liquified natural gas

The Financial Timesb reports that utilities across Europe are enjoying a windfall, as a gas glut caused by excess liquefied natural gas shipments from Asia drives prices to multi-year lows. A…

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Substantial natural gas discovery off the coast of Cyprus

The Cyprus Mail reported that Cypriot President Nicos Anastasiades described the news from ExxonMobil of a substantial natural gas discovery in an offshore field inside the island exclusive economic zone…

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Cyprus and Egypt sign agreement for first Mediterranean subsea natural gas pipeline

Cyprus and Egypt on Wednesday signed an agreement paving the way for the Mediterranean's first subsea pipeline to carry Cypriot natural gas to the Arab country for re-export to Europe.…

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Libya exports first natural gas shipment to Italy after four years

The National Oil Corporation (NOC) shipped on Wednesday its first quantity of propane gas from the Zueitina port to Italy, estimated at approximately 61,761 barrels. The NOC said in…

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