Azerbaijan intends to export at least 11.6 billion cubic meters of natural gas to Europe in 2023, President Ilham Aliyev said in Bucharest at the signing ceremony of an agreement between the governments of Azerbaijan, Hungary, Georgia and Romania on a strategic partnership in the development and supply of green …
Read More »Turkey Inaugurates Biggest Natural Gas Storage Facility in Europe
Turkey on Friday held a long-awaited ceremony to mark an increase in capacity at its first underground natural gas storage facility, in what officials say will make it the biggest storage site in Europe. The country has been filling its gas storage units this year as the import-dependent country sought …
Read More »Europe Imports Huge Amounts of Diesel
Europe is bringing in diesel cargoes from around the world at close to a record pace ahead of the coming ban on shipments from its biggest external supplier. In the first 10 days of this month, the UK and European Union imported more than 16 million barrels of diesel-type fuel …
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 »Europe can’t Count on U.S. Shale to Make up for Russian Crude
OPEC+ yesterday decided to leave its production quotas where they are, at 2 million bpd lower than they were in October, which is an effective cut of 1 million bpd of production. Three days earlier, the European Union reached an agreement to set a price cap on Russian crude oil …
Read More »Europe’s Wind Energy Industry has Hit a Rough Patch
Why isn’t wind power going gangbusters? In Europe, the energy crisis is causing solar power growth to break record after record. In the United States, the Inflation Reduction Act has provided major incentives to the renewable energy sector. For the last two weeks, the world’s preeminent energy and environmental experts …
Read More »G7 Looking at Russian Oil Price Cap of $65-70 per Barrel
Ambassadors from the 27 EU countries are discussing the G7 proposal with the aim of reaching a common position by the end of the day. Views in the EU are split, with some pushing for a much lower price cap and other arguing for a higher one. The G7, including …
Read More »Europe’s Dash for Energy Means Rigging Up LNG Plants at Sea
As Europe scrambles to replace Russian gas with supplies from across the globe, producers are turning to a new technology to drill quickly and cheaply: small floating plants out at sea, often made out of old tankers. While liquefied natural gas is conventionally made at large plants on the coast, …
Read More »European Refiners Now Have Too Much Oil
European refiners now seem to have more crude oil than they need—with the early panic about Russia’s dwindling oil exports—and the world’s subsequent oil shortage—proving to be overblown. Crude oil traders have pointed to Europe’s ability to source crude oil from Latin America, the Middle East, and the United States …
Read More »Turkey Announces Its Readiness to Supply Turkmen Gas to Europe in Transit
Ankara is ready to transit natural gas from Turkmenistan to Europe, the Neutral Turkmenistan newspaper reported on Saturday, following the visit of Chairman of the Grand National Assembly (Parliament) of Turkey Mustafa Sentop to Ashgabat. According to the newspaper, the parliament speaker said that there are broad prospects for increasing …
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