Tag Archives: European Union (EU)

The EU’s Eur180/MWh gas price cap would not impact Asian LNG trade flow in the near term but could tighten supplies to Europe in 2023 as some Asian suppliers might opt to sell to other markets, market sources told S&P Global Commodity Insights Dec. 20. The EU’s energy ministers agreed …

Switzerland has decided to join the measures adopted by the European Union to impose a price cap on Russian oil, the country’s government announced on its website on Friday. The “EU agreed on December 3 to apply new sanctions relating to a price cap on Russian crude oil and petroleum …

Since Russia invaded Ukraine, Europe has announced its intent to diversify its gas supplies away from Russia. Sensing an opportunity, Turkey is angling to become a natural gas hub and alternative supply route to the European Union from resource-rich countries in the Caucasus and Central Asia. During a trilateral summit …

The energy ministers of the 27 European Union member states are holding an emergency meeting in Brussels on Tuesday to try to reach an agreement over capping the price of natural gas to shield customers and businesses from spikes in prices. Early on Tuesday before the meeting, the EU was …

Some European Union countries are trying to weaken the bloc’s planned law to cut methane emissions in the oil and gas sector, documents show, weeks after the EU pledged at the COP27 climate conference to do more to tackle the potent greenhouse gas. Methane is the second biggest cause of …

A dozen countries, including Belgium, Italy, Poland and Slovenia, have made efforts to “significantly” lower the European Union’s planned gas price cap amid the bloc’s attempts to reach an agreement on the issue, Reuters reports. Gas prices in Europe have risen sharply this year after Russia cut gas supplies, leading …

The clash over a proposal to cap natural gas prices in the European Union intensified as a group of 12 member states urged a significantly lower intervention ceiling to limit the impact of an unprecedented energy crisis on the bloc’s consumers and businesses. The move by nations including Belgium, Greece, …

EU countries want to ease conditions for a proposed gas price cap to be triggered following criticism that the European Commission’s model was too strict, according to a leaked draft, seen by EURACTIV. The new set of amendments, circulated by Czechia, which currently holds the EU’s six-month rotating presidency, show …

On December 2, EU member states unanimously agreed to introduce a price cap at $60 per barrel on Russian seaborne oil, as well as an EU-imposed embargo on Russian crude oil shipped by sea. Both initiatives would go into effect on December 5. The EU’s price cap is also joined …

Russia has repeatedly said it will not supply oil to countries that implement the cap – a stance reaffirmed by Mikhail Ulyanov, Moscow’s ambassador to international organizations in Vienna, in posts on social media on Saturday. “Starting from this year Europe will live without Russian oil,” he said. The G-7 …