South Korea’s Ministry of Trade, Industry and Energy announced on Tuesday that it will increase nuclear power’s contribution to the national energy mix to 30% or more by 2030. President Yoon Suk-yeol has rejected the idea of phasing out nuclear energy, and made it a key pledge of his campaign …
Read More »EU Plans Hydrogen Deal with Namibia as It Pulls away from Russian Energy
The European Union (EU) is planning a deal with Namibia to support the country’s nascent green hydrogen sector and boost its own imports of the fuel, EU and Namibian officials said, as the bloc works to reduce its dependence on Russian energy. Hydrogen has long been touted as a less …
Read More »USA Sending more Gas to Europe than Russia
For the first time, the US is supplying more natural gas to Europe than Russia sends by pipelines, according to the International Energy Agency. Europe is seeking alternatives such as US liquefied natural gas to Russian supplies after Gazprom PJSC slashed shipments through Nord Stream, its biggest pipeline to Europe, …
Read More »Barkindo to Join Atlantic Council, Leaves OPEC July 31
The Atlantic Council has disclosed that Mohammad Sanusi Barkindo, secretary general for the Organization of the Petroleum Exporting Countries (OPEC), will join the Atlantic Council as a distinguished fellow in the Global Energy Center after the conclusion of his term at OPEC on July 31. Barkindo’s fellowship at the council …
Read More »Oil Up as Supply Outages Outweigh Demand Fears
Oil prices edged higher on Monday as output disruptions in Libya and planned shutdowns in Norway offset concerns that an economic slowdown would dampen demand. International benchmark Brent crude was trading at $111.92 per barrel at 0705 GMT for a 0.26% increase after the previous session closed at $111.63 a …
Read More »Japan Continues Viewing Sakhalin-2 as Important Project for Energy Security
Tokyo continues viewing the Sakhalin-2 project as important from the standpoint of providing power and gas supplies to Japan and intends to continue protecting its interests in the project, spokesman of the Japan’s government Seiji Kihara said on Monday. “The Sakhalin-2 is an important project for Japan from the standpoint …
Read More »UK Interest in Solar Power Heats up as Energy Bills Soar
Boom in solar panel demand is clouded by supply chain disruption, a fragmented industry as well as ethical issues, reports EURACTIV’s media partner, The Guardian. “It’s hot,” says Steve Springett, a director of the renewable energy brand Egg, cheerily assessing the solar market. “There’s two key factors: people are understanding …
Read More »Algeria Says It’s Agreed Hike in Gas Prices with Three Partners
Algeria said it reached a deal with three “partners” to increase prices of its natural gas exports, as Europe races to boost supplies from the North African country. “We are confident that we will soon reach agreements to review the prices with other partners,” Toufik Hakkar, the chief executive officer …
Read More »Japan PM Says Marginal Price of Russian Oil will be Halved
Japanese Prime Minister Fumio Kishida said the ceiling price for Russian oil, which was included in the G8 summit statement, is expected to be about half the current price, Kyodo reported. “We will set a ceiling at about half the current price and create a mechanism to prevent people from …
Read More »U.S. Supplies more Gas to Europe than Russia for the First Time
For the first time, the U.S. provided more liquefied natural gas (LNG) to Europe than Russia sends by pipelines, according to the latest data released by the International Energy Agency (IEA). Russia ships about 150 billion cubic meters of gas to Europe via pipelines every year, and another 14 billion …
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