Tag Archives: Europe

The leadership of the European Union has been hard at work these days, trying to find a lasting solution to an energy crisis that is worsening by the day. Yet the way they are approaching the solution is unlikely to produce any lasting results. And so far, it has been …

Stainless steel prices continue to struggle as we approach the final quarter of the year. Meanwhile, nickel prices float just above their 2021 average, closing August at $21,320 / mt. Both indices seem to indicate an overly-cautious marketplace, with buyers and sellers seemingly waiting to see what the other will …

Europe’s looming winter fuel crisis has deepened after Russia shut down a key gas pipeline to Germany, claiming the indefinite stoppage was due to what experts say is a minor oil leak. Nord Stream 1, which runs under the Baltic Sea, had been due to resume operating on Saturday after …

As winter nears, European nations, desperate to replace the natural gas they once bought from Russia, have embraced a short-term fix: A series of roughly 20 floating terminals that would receive liquefied natural gas from other countries and convert it into heating fuel. Yet the plan, with the first floating …

A post in the Financial Times this week reported on comments made by Shell’s chief executive Ben van Beurden. In the article, Ben van Beurden focused mainly on the criticality of Europe’s energy crisis. “That this is going to be somehow easy, or over, I think is a fantasy that …

European gas markets are taking a sigh of relief after aggressive purchasing for LNG cargos and piped gas see storages filled faster than EU targets, Rystad Energy Senior Analyst Wei Xiong said in a market note sent to Rigzone on Wednesday. Europe is in full bunkering mode and taking no …

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 …