Tag Archives: Europe

The European Commission has today presented the REPowerEU Plan, its response to the hardships and global energy market disruption caused by Russia’s invasion of Ukraine. There is a double urgency to transform Europe’s energy system: ending the EU’s dependence on Russian fossil fuels, which are used as an economic and …

The volume of natural gas from Russian gas giant Gazprom destined for Europe via Ukraine will decrease 25% on Monday compared to the quantity the previous day, Gazprom’s spokesman Sergey Kupriyanov confirmed. “Gazprom will supply 46.8 million cubic meters of natural gas via Ukraine on May 15 (Monday),” Kupriyanov said, …

Iraq is redirecting crude flows from its primary customer base in Asia to refineries in Europe — and may soon be able to offer more volumes with the upgrading of a loading port, officials with state marketer SOMO said May 12, as Western countries have sought to wean themselves off …

Ten more European buyers of Russian gas have opened accounts at Russia’s Gazprombank, designated by Vladimir Putin to process the ruble-for-gas payments that he demands from now on, a source close to Russia’s gas giant Gazprom told Bloomberg on Thursday. So far, 20 companies from Europe have already opened accounts …

Czech state fuel distributor Čepro is ready to build a liquefied natural gas (LNG) terminal in the country so gas could be transported from the Baltics by train. In the future, ship transport is also possible if the navigability of the Elbe River is resolved. Planned LNG transhipment facility is …

Reuters reports that Ukraine will suspend the flow of gas through a transit point which it said delivers almost a third of the fuel piped from Russia to Europe through Ukraine, blaming Moscow for the move and saying it would move the flows elsewhere. Ukraine has remained a major transit …

Azerbaijan plans to supply more natural gas to Europe as countries in the continent aim to phase out Russian imports by the end of the year and look for alternative sources of supplies amid Moscow’s continuing conflict with Ukraine. The central Asian republic is focusing on upgrading its existing energy …

The G7 club of wealthy nations have committed to phasing out its dependency on Russian oil. The statement from the Group of Seven – France, Canada, Germany, Italy, Japan, Britain and the United States – did not specify exactly what commitments each country will make to move away from Russian …

Oil extended its biggest drop in more than five weeks as the European Union softened some of its proposed sanctions on Russian oil exports. West Texas Intermediate futures fell below $103 a barrel in early Asian trading after sliding around 6% on Monday. The bloc will scrap a proposed ban …

Spain is becoming one of Europe’s new hydrogen hubs, said European Commission President Ursula von der Leyen during a press conference in Barcelona on Friday, adding that the country has always been a “front runner” in the NextGenerationEU plan. “This is a defining moment for Europe and for our future,” …