Since Russia invaded Ukraine, Europe has announced its intent to diversify its gas supplies away from Russia. Sensing an opportunity, Turkey is angling to become a natural gas hub and alternative supply route to the European Union from resource-rich countries in the Caucasus and Central Asia. During a trilateral summit …
Read More »Turkmenistan, Turkey, Azerbaijan Intend to Jointly Develop Turkmen Gas Exports
Turkmenistan, Turkey, and Azerbaijan plan to set up a working group to cooperate in shipping Turkmen natural gas, Turkish Foreign Minister Mevlut Cavusoglu said at a joint press conference with his Turkmen and Azerbaijani counterparts in the city of Avaza, where the three countries had a summit. “We are willing …
Read More »EU Attempts to Break the Deadlock over a Natural Gas Price Cap
The energy ministers of the 27 European Union member states are holding an emergency meeting in Brussels on Tuesday to try to reach an agreement over capping the price of natural gas to shield customers and businesses from spikes in prices. Early on Tuesday before the meeting, the EU was …
Read More »China is Set to Become Russia’s Main Gas Importer to Replace EU
China is set to overtake the European Union (EU) as the main consumer of Russian natural gas after the Power of Siberia 2 pipeline comes online by 2030. The pipeline, which is currently under construction, will bring gas from the Yamal reserves in west Siberia—the main source of gas supply …
Read More »Kremlin: Europe has just Switched Gas Dependency from Russia to US
Europe has simply switched from dependency on Russian gas to dependency on LNG from the US, the Kremlin said on Sunday. “They have now changed their dependence on Russia for dependence on American liquefied natural gas. This is exactly the same dependence. Only there is much less reciprocity,” Kremlin spokesman …
Read More »China’s Largest Unconventional Gas Field Daily Output Hits 100m Cubic Meters
China’s largest unconventional onshore gas production field, located in north China’s Inner Mongolia Autonomous Region, has reached daily output of 100 million cubic meters, PetroChina said on Saturday. Operated by PetroChina, China’s largest oil and natural gas producer, the Sulige Gas Field located north of the Ordos Basin in Inner …
Read More »EU Gas Price Cap Spat Worsens as 12 Nations Urge Lower Ceiling
The clash over a proposal to cap natural gas prices in the European Union intensified as a group of 12 member states urged a significantly lower intervention ceiling to limit the impact of an unprecedented energy crisis on the bloc’s consumers and businesses. The move by nations including Belgium, Greece, …
Read More »India Prepares to Increase Natural Gas Imports
India has asked its state-run firms to increase their natural gas imports to stave off shortages next summer, three government sources told Reuters on Wednesday. The move will place an additional demand burden on the global natural gas markets as Europe tries to protect itself from energy shortages this winter …
Read More »EU Countries Consider Lowering Gas Price Cap to €220/MWh
EU countries want to ease conditions for a proposed gas price cap to be triggered following criticism that the European Commission’s model was too strict, according to a leaked draft, seen by EURACTIV. The new set of amendments, circulated by Czechia, which currently holds the EU’s six-month rotating presidency, show …
Read More »Ukraine Welcomes Russian Oil Price Cap Agreed by EU, G7
Ukraine on Saturday welcomed a $60 price cap on Russian oil agreed by the EU, G7 and Australia, saying it would “destroy” Russia’s economy. The price cap, previously negotiated on a political level between the G7 group of wealthy democracies and the European Union, will come into effect with an …
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