UK produces a fifth more gas as Europe scrambles to end reliance on Russia
2 years, 7 months ago

UK produces a fifth more gas as Europe scrambles to end reliance on Russia

The Telegraph  

The UK is producing almost a fifth more gas than last year, boosting efforts to wean the country and its European neighbours off Russian energy. Bank of America analysts said UK production had recovered from a “horrific” 2021 following a collapse in prices one year earlier and tougher environmental rules. Falls in European and UK production last year were one driver of the rally in gas prices starting last summer that has sent household energy bills to record prices. Bank of America analysts said European natural gas currently “has the dubious honour of being the most expensive source of energy in the world.” They said storage levels are normalising thanks to increased supplies which could help bring prices down, but warned: “Energy security of supply remains a major risk and should support prices.” Summer weakness in European gas prices was “unlikely to last,” they added, warning of “lasting damage to the European economy.”

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History of this topic

Prices stable as end to Ukraine t
2 weeks, 2 days ago

Prices stable as end to Ukraine t

Hindustan Times  

LONDON, - Dutch and British wholesale gas prices were stable early on Monday as high output from wind and solar farms curbed demand for gas-fired power, offsetting nervousness about the expected end of Russian gas supplies to Europe via Ukraine. Prices stable as end to Ukraine t The benchmark front-month contract at the Dutch TTF hub was down 0.28 euro …

Russian pipeline gas exports to Europe down 2% in August, calculations show
4 months, 1 week ago

Russian pipeline gas exports to Europe down 2% in August, calculations show

The Hindu  

Russian energy giant Gazprom's average daily natural gas supplies to Europe declined in August by 2% from July and 2.3% year on year, Reuters calculations showed on Monday. The calculations, based on data from the European gas transmission group Entsog and Gazprom's daily reports on gas transit via Ukraine, showed that average daily pipeline exports decreased to 89.6 million cubic …

How Putin’s gas empire crumbled
8 months, 1 week ago

How Putin’s gas empire crumbled

The Telegraph  

In 2021, more than 40pc of European Union gas imports came from Russia. Norway is now the EU’s biggest supplier of gas imports, raising its sales from 79.5bn cubic metres to 87.8bn. The EU added capacity to import an extra 40bn cubic metres of LNG last year, and plans to add capacity for another 30bn this year. European imports from …

Europe needs clear-eyed view of US moves
2 years ago

Europe needs clear-eyed view of US moves

China Daily  

A vehicle passes the building of the European Commission in Brussels, Belgium, Oct 18, 2022. The natural gas price in Europe once hit nearly €350 per megawatt-hour since the Russia-Ukraine conflict broke out. European energy ministers agreed on Dec 19 to impose a price cap if prices in the European Union's main trading centers remained above €180 per megawatt-hour for …

EU ministers fail again on gas price cap to contain costs
2 years, 1 month ago

EU ministers fail again on gas price cap to contain costs

Associated Press  

BRUSSELS — European Union energy ministers failed yet again to overcome their deep differences Tuesday on a natural gas price cap that many hope would make utility bills cheaper so people can stay a little warmer during harsh winter days — if not this year, then later. One side is demanding a cap to push down gas prices for households …

Europe's import of Russian gas jumps 42% amid Russia-Ukraine war: Report
2 years, 1 month ago

Europe's import of Russian gas jumps 42% amid Russia-Ukraine war: Report

Hindustan Times  

The European Union witnessed a 42 percent increase in the imports of Russian Liquefied Natural Gas between January-October, compared to the same period last year, Financial Times reported. The report said that EU has imported 62.1 billion cubic meters of natural gas this year compared to 17.8 billion cubic meters last year. This comes as Lithuanian Foreign Minister Gabrielius Landsbergis …

EU nations fail to close rift on gas prices as cold sets in
2 years, 1 month ago

EU nations fail to close rift on gas prices as cold sets in

Associated Press  

BRUSSELS — On winter’s doorstep, European Union nations again failed to bridge bitter disagreements over a natural gas price cap Thursday as they struggle to effectively shield 450 million citizens from massive increases in their utility bills. “The discussion was quite heated, and you all know that there are very divergent views,” said Czech Industry Minister Jozef Síkela, who chaired …

Ukraine War Fallout: Is Energy Crisis Imminent in Europe? - News18
2 years, 2 months ago

Ukraine War Fallout: Is Energy Crisis Imminent in Europe? - News18

News 18  

The Russia-Ukraine conflict, euphemistically called a “special military operation” by Russia when it launched the offensive, more than seven months ago was not expected to last more than a few days or weeks. Despite alarm bells from a January 2009 crisis that led to the disruption of Russian gas transiting through Ukraine for two weeks, and Russia’s annexation of Crimea …

Data | Energy inflation in Europe peaks at 40% as Russia squeezes oil supply
2 years, 3 months ago

Data | Energy inflation in Europe peaks at 40% as Russia squeezes oil supply

The Hindu  

In the seven months following Russia’s invasion of Ukraine, the tables have turned. In the months following the invasion, tougher sanctions against Russian oil and gas remained a contentious subject for countries in the European region. Subscribe here to get the Data Point newsletter delivered to your inbox Data shows that a combination of supply-squeeze from Russia and self-imposed import …

Explained: Europe's looming energy crisis as Russia chokes gas supply
2 years, 4 months ago

Explained: Europe's looming energy crisis as Russia chokes gas supply

Firstpost  

With the halt in the Nord Stream 1 pipeline, Russian gas shipments have fallen 89 per cent from a year ago. Russia used to supply 40 per cent of Europe’s natural gas, and even more to Germany, where inexpensive energy was a pillar of the economy. There’s still some Russian gas flowing to Europe through a pipeline passing through Ukraine …

Europe braces for Russia gas disruption this week
2 years, 4 months ago

Europe braces for Russia gas disruption this week

Live Mint  

Russia will shut its key Nord Stream natural-gas pipeline Wednesday for maintenance, leaving Europe guessing again about whether supplies will restart, as temperatures fall and demand for the fuel grows. Even if Nord Stream reopens Saturday as promised by Russian gas giant Gazprom PJSC, few Western politicians and economists think Europe will receive enough Russian natural gas next year because …

UK faces periods of ‘tight’ electricity supply this winter amid Russia war in Ukraine
2 years, 5 months ago

UK faces periods of ‘tight’ electricity supply this winter amid Russia war in Ukraine

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Electricity supplies could be “tight” during parts of the winter …

Brussels asks EU member states to slash gas use by 15%
2 years, 5 months ago

Brussels asks EU member states to slash gas use by 15%

Al Jazeera  

The European Commission has asked European Union member states to slash their gas use by 15 percent over the coming months to ensure that a complete cutoff of natural gas supplies by Russia to the 27-nation bloc will not fundamentally disrupt industries next winter. And therefore, in any event, whether it’s a partial major cutoff of Russian gas or total …

Europe’s push to cut Russian gas faces a race against winter
2 years, 7 months ago

Europe’s push to cut Russian gas faces a race against winter

Associated Press  

While Europeans bask in the warmth of spring, governments are in a race against winter. “There’s no additional supply,” said James Huckstepp, manager for Europe, Middle East and Africa gas analytics at S&P Global Commodity Insights. But there’s a long way to go — Russia sent 155 billion cubic meters of natural gas to Europe annually before the war. Huckstepp …

How much oil does the UK import from Russia?
2 years, 10 months ago

How much oil does the UK import from Russia?

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Against that backdrop, business secretary …

From oil to wheat: what surging prices mean for companies and consumers
2 years, 10 months ago

From oil to wheat: what surging prices mean for companies and consumers

The Telegraph  

The world was contending with a huge inflation problem long before Russia invaded Ukraine as the recovery from Covid led to a spike in demand. But the invasion is driving up prices of precious commodities such as fuel, food and key materials even further as traders brace for supply chain disruption amid the threat of further sanctions. Gas Gas prices …

European gas prices hit record high as Russia supply fears grow
2 years, 10 months ago

European gas prices hit record high as Russia supply fears grow

Al Jazeera  

Despite Russia’s invasion of Ukraine, gas deliveries from Russia to Europe through its various pipelines have so far remained largely unchanged. European and British gas prices soared on Wednesday, with a benchmark Dutch gas price hitting a record high as countries said European Union sanctions against Russia could target gas shipments, while some cargos of Russian liquefied gas changed course. …

Natural gas, petrol prices could jump if Russia-Ukraine conflict worsens
2 years, 10 months ago

Natural gas, petrol prices could jump if Russia-Ukraine conflict worsens

NL Times  

The escalating conflict between Russia and Ukraine pushed the prices of oil and natural gas. The suggested retail price for a liter of Euro95 could reach 2.20 euros, Paul van Selms of the organization said to RTL Nieuws. Minister Rob Jetten said on Wednesday that it is hard to predict what will happen to the gas price for Netherlands residents …

What happens to Europe’s energy supply if Russia cuts gas exports? An explainer
2 years, 11 months ago

What happens to Europe’s energy supply if Russia cuts gas exports? An explainer

LA Times  

Fears are rising over what would happen to Europe’s energy supply if Russia were to invade Ukraine and then shut off natural gas exports in retaliation for U.S. and European sanctions. U.S. national security advisor Jake Sullivan said Sunday on NBC’s “Meet the Press” that the Biden administration has coordinated with its allies and that “if Russia invades Ukraine, one …

Russia told to pump more gas to European market as winter supply crunch looms
3 years, 3 months ago

Russia told to pump more gas to European market as winter supply crunch looms

The Telegraph  

Speaking to reporters while on a visit to the US, Mr Johnson sought to downplay fears of a serious shortfall in energy supply. This is a short term problem.” On Tuesday, natural gas in Britain ended the day at 186.1p per therm - slightly down on record of 189.6p per therm on Monday but still more than five times higher …

Energy prices rocket to new high amid global gas crunch
3 years, 4 months ago

Energy prices rocket to new high amid global gas crunch

The Telegraph  

Energy prices have surged to 11 times above normal levels – a fresh record high – as a crunch in gas supply, low wind speeds and power station closures pile unprecedented pressure on Britain’s grid. The wholesale day-ahead power price in Britain rocketed to £540 per megawatt hour on Monday – £369 higher than Friday’s price, and more than 1,000pc …

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