2023 is poised to witness a remarkable surge in the hydrogen investment market. That’s one of the findings of a new report by consultancy LCP Delta, which predicts a staggering 800% increase in the total installed capacity of hydrogen energy projects this year in Europe. Analysts say this would be …
Read More »UK and France Seal Energy Security Deal
The UK and France have signed a deal to increase energy security by shifting towards renewable and nuclear power. Energy Security Secretary Grant Shapps and France’s Energy Minister, Agnes Pannier Runacher have signed the agreement, following the two nations’ longstanding partnership on nuclear power. French company EDF is leading the …
Read More »Europe must Avoid Entering into New Russian LNG Deals, Says EU Energy Chief
The EU’s energy policy chief has called on European countries and companies to refrain from signing new contracts for the purchase of Russian liquefied natural gas (LNG). Earlier today, Kadri Simson, had a meeting with IEA’s Executive Director Fatih Birol – they both discussed the challenges in the European energy …
Read More »UK Gas Exports to EU Disrupted due to Equipment Failure
An “equipment failure” has prompted the shutdown of a key UK-EU gas pipeline. Operator Interconnector Limited has confirmed that natural gas exports from the UK through Belgium to Europe have been halted due to equipment failure. The link runs from Bacton in the UK to Zeebrugge in Belgium and is …
Read More »EU Gas Price Cap Comes into Force
An EU regulation on a gas price cap has come into effect. Two months ago, EU energy ministers agreed on a European Council regulation that sets a market correction mechanism to protect households and businesses against excessively high prices. The measure, which is temporary and will apply for one year, …
Read More »Europe Says ‘No’ to VAT Exemption on German Gas Levy
Europe is hoping the new gas levy Germany is introducing for all gas consumers not have “unintended consequences”. It is hoped that this new tax will allow the country to offset the rising cost of gas imports caused by the reduced Russian gas flows through Nord Stream 1 pipeline. Germany …
Read More »Gazprom Asks Siemens to Provide Papers on Gas Turbine Return
Russia’s Gazprom has announced it has requested Siemens for documents that will allow the return of a gas turbine that is a “crucial part” of the Nord Stream pipeline. In a statement, the energy giant said: “On 15th July Gazprom formally approached Siemens with a request to provide documents that, …
Read More »Gazprom could Change Contracts if Countries Impose Price Caps on Russian Gas
Gazprom could reportedly seek to change the terms of its delivery contracts if countries implemented a price cap on Russian gas. That follows reports which claimed that G7 leaders will start exploring the options around imposing possible price caps on Russian oil and gas imports. It is expected that the …
Read More »IEA: “Capital Spending is Insufficient to Tackle the Energy and Climate Crises”
The current level of global capital spending is still far from sufficient to combat the energy and climate crises. That’s one of the findings of the new report by the International Energy Agency (IEA) which estimates that global energy investment is set to increase by 8% this year to reach …
Read More »Germany Pumps €10bn into Gazprom Germania
Gazprom Germania will be handed a loan of up to €10 billion (£8.6bn), the German Government has confirmed. Officials have said that the aim is to place the firm into a long-term administration regime. It is reported that the loan will help the company avoid insolvency. In the statement, the …
Read More »