Via AG Metal Miner November’s Renewables MMI (Monthly MetalMiner Index) traded sideways for the first time since June. The index rose by 1.56% month-over-month. This primarily resulted from GOES (grain-oriented electrical steel) rising in price. Meanwhile, other renewable energy resources, like neodymium and Japanese steel plate, traded sideways. Silicon remains …
Read More »The Russian Gas Habit Europe can’t Quit: LNG
European leaders have boasted about cutting their reliance on Russian gas since Vladimir Putin invaded Ukraine. But that’s only part of the truth. While supplies of natural gas delivered by pipeline fell dramatically this year, liquefied natural gas (LNG) imports from Russia into the EU increased by 46 percent year-on-year …
Read More »Iraq to Increase Its Share in the European Oil Market
The State Organization for Marketing of Oil (SOMO) intends to increase its share in the European market amid the decline in Russian imports to the region and its need to provide alternatives. Head of SOMO, Alaa Al-Yasiri, mentioned that the work mechanisms of SOMO are focused on ensuring the marketing …
Read More »IEA: Europe could Face Gas Shortage Next Year
Europe must act immediately to prevent a shortage of natural gas next year as Russia slashes deliveries in the wake of the Ukraine war, the International Energy Agency warned Thursday. The IEA said the shortfall would occur if Russia stops pipelines deliveries completely and China steps up its imports of …
Read More »Turkmenistan is becoming a Regional Energy Powerhouse
A senior official from Turkmenistan this week again dangled the prospect of his country exporting its gas directly to European markets through a Trans-Caspian pipeline route, but with a lack of enthusiasm that should probably have Brussels concerned. Speaking at the Abu Dhabi International Petroleum Exhibition and Conference, or ADIPEC, …
Read More »Azerbaijan and Georgia have Big Plans for Energy Exports to Europe
Azerbaijan and Georgia are hoping to capitalize on their rising geopolitical significance and gain a new route to supply Europe with electricity. Plans for an electricity cable stretching beneath the Black Sea from Georgia to southeastern Europe have been on the table for several years now. But with European energy …
Read More »World’s Second-Largest Container Carrier Sees Global Trade Slowing
Europe is nearing a recession, and the U.S. may be right on its heels, the world’s second-largest container carrier told Bloomberg TV on Wednesday. Recession fears have put a cap on oil prices as analysts mull just how deeply a recession would cut into the demand for the commodity that …
Read More »The Real Challenge for Europe’s Energy Market will Come next Year
Europe is more or less prepared to face this winter with nearly full gas storage sites and a steady flow of LNG imports. The real concern about gas supply is for the winter after that, the top executives of Europe’s biggest oil and gas majors say. As of October 31, …
Read More »Russia Says U.S. Lowers Nnuclear Threshold by Deploying New Nuclear Bombs in Europe
Russia said on Saturday that the accelerated deployment of modernised U.S. B61 tactical nuclear weapons at NATO bases in Europe would lower the “nuclear threshold” and that Russia would take the move into account in its military planning. Russia’s invasion of Ukraine has triggered the gravest confrontation between Moscow and …
Read More »Europe’s Gas Glut to Help Ease Winter LNG Supply Crunch in Asia
Europe’s near-term natural gas supply glut means more fuel for Asia this winter. Liquefied natural gas suppliers are already looking to redirect shipments to Asia for delivery from November onward due to more attractive prices, according to traders with knowledge of the matter. Asia LNG spot prices jumped above the …
Read More »