With EU bans on Russian oil and oil-product exports set to go into effect this year in response to Russia’s ongoing war in Ukraine, emerging market producers are poised to gain larger shares of an evolving market. EU bans against Russian oil products such as diesel were rolled out earlier …
Read More »Egypt can’t Solve Europe’s LNG Problems Overnight
For years, Egypt has been performing a tough balancing act between the West and Russia, with Cairo casting itself as an actor that both parties can lean on. Egypt was the Soviet Union’s principal ally in the Middle East during the Cold War and remains an important partner today. Last …
Read More »EU Gas Price Cap Comes into Force
An EU regulation on a gas price cap has come into effect. Two months ago, EU energy ministers agreed on a European Council regulation that sets a market correction mechanism to protect households and businesses against excessively high prices. The measure, which is temporary and will apply for one year, …
Read More »EU Expects Egypt to Deliver High Volumes of LNG
The European Union expects Egypt to maintain “relatively high volumes” of liquefied natural gas (LNG) deliveries to Europe, EU Energy Commissioner Kadri Simson said yesterday. Speaking to Reuters on the sidelines of an energy conference in Egypt, Simson said: “Now we have to solve some of the bottleneck issues.” “We …
Read More »The EU Needs more Diesel, but the Middle East can’t Supply it all
Europe has raised its imports of fuels from the Middle East and the United States in preparation for the EU ban on seaborne imports of Russian refined petroleum products. Just ahead of the ban, Europe was still the biggest buyer of Russian diesel and it will have to boost imports …
Read More »EU Ambassadors Agree on Price Cap for Russian Oil Products
EU ambassadors agreed on a price cap Friday for Russian petroleum products, said the Swedish Presidency of the Council of the EU. “EU ambassadors today approved the price caps on petroleum products ahead of final adoption by the EU Council,” it wrote on Twitter. “Important agreement as part of the …
Read More »Nine EU Countries Want Low-Carbon Hydrogen Included in Bloc’s Renewables Goals
Nine EU member states, including France, have called on the European Commission to include low-carbon hydrogen – produced from nuclear electricity – in the EU’s renewable hydrogen targets. France, Romania, Bulgaria, Poland, Slovenia, Croatia, Slovakia, Hungary and Czechia made the call in a letter sent to the European Commission on …
Read More »Belgium Largest Energy Supplier to EU Neighbours in 2022
Belgium played a key role in supplying energy to its main neighbours in 2022, as it was France’s largest electricity supplier and Germany’s main transit country for natural gas. “Belgium helped France and Germany overcame their energy difficulties in 2022. We can show solidarity with our neighbours thanks to our …
Read More »Gas Price Cap Risks Curbing Market Liquidity, EU Regulators Warn
The European Union’s gas price cap, which launches next month, could impact financial stability and potentially curb liquidity in Europe’s exchange-traded gas markets, the bloc’s financial and energy market regulators said on Monday (23 January). EU countries agreed in December to a gas price cap that, from 15 February, will …
Read More »Europe Gas Swings amid Crimped Norway Supplies and Cold Weather
European natural gas fluctuated with Norwegian supplies expected to drop to the lowest in more than two months in the middle of a cold snap that’s boosting demand. Available capacity at several Norwegian facilities has been reduced by works and orders for shipments have fallen. While flows from the country …
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