Tag Archives: Europe

Europe faces the risk of blackouts, rationing and a severe recession if Russia further slashes gas deliveries, and the next reality check is at hand. A three-day halt of the Nord Stream pipeline — a key source of natural gas for the European Union — starts on Wednesday, and concerns …

Russian energy giant Gazprom on Wednesday cuts off its gas supplies to Germany via the Nord Stream 1 pipeline for maintenance work, further raising tensions on an already taut electricity market. The three-day works at a compressor station are “necessary”, Gazprom has said, adding that they had to be carried …

As a result of Russian gas supply cuts, Europe may face several winters of gas shortages, according to Shell chief executive Ben van Beurden. Van Beurden also warned that Russia’s tightening grip on gas supplies to Europe might cause high power bills and electricity rationing this winter. Russian gas supply …

Norway plans to maintain its currently high gas production levels until the end of the decade as Europe plans to reduce Russian imports, its energy minister said on Tuesday. The Nordic country is now Europe’s biggest supplier of gas, according to Refinitiv Eikon data, overtaking Russia, which has cut back …

Wednesday, 24 August 2022, is a bitter-sweet day for us Ukrainians. It marks the 31st anniversary of our country’s post-USSR independence. But sadly, it will also be exactly six months since Russia invaded our country, killing Ukrainian civilians, seeking to destroy Ukraine’s critical infrastructure and violating our right as an …

Iran’s Oil Minister Javad Oji says the Islamic Republic has a good capacity to produce oil and gas and their commodities and is thus capable of partly relieving the energy shortage in the world. Oji said energy prices are out of control in the world and big petrochemical companies in …

Europe faces fresh disruption to energy supplies due to damage to a pipeline system bringing oil from Kazakhstan through Russia that was reported by the pipeline operator on Monday, adding to concerns over a plunge in gas supplies. CPC, which handles about 1% of global oil and whose largest shareholder …

The price of gas in Europe during trading on Monday rose above $2,800 per 1,000 cubic meters for the first time since the beginning of March, continuing to grow against the backdrop of reports about the suspension of supplies via Nord Stream for three days from August 31 due to …

Asian liquefied natural gas prices extended gains as concern mounts that Russia’s announcement of maintenance on a key pipeline to Europe will further tighten global supplies. Producers offered LNG spot cargoes for winter above $60 per million British thermal units on Monday, traders said. The Japan-Korea Marker spot benchmark slipped …

While the European Union and the UK are trying to shake off dependence on Russian oil and coal in the wake of Russia’s invasion of Ukraine, Europe is also taking steps to reduce its dependence on China for critical minerals and rare earth elements that are crucial to the energy …