EU unveils $220bn plan to ditch Russian energy
2 years, 7 months ago

EU unveils $220bn plan to ditch Russian energy

Al Jazeera  

Brussels plans to spend $314bn by 2030 to end its dependency on Russian oil and gas imports. Taken together, Brussels expects them to require 210 billion euros in extra investments by 2027 and 300 billion euros by 2030 on top of those already needed to meet the bloc’s 2030 climate target. The Commission said some investments in fossil fuel infrastructure would be required – 10 billion euros for a dozen gas and liquefied natural gas projects, and up to two billion euros for oil, targeting land-locked Central and Eastern European countries that lack access to non-Russian supply. Brussels wants countries to finance the measures using the EU’s COVID-19 recovery fund, which contains more than 200 billion euros of unspent loans. The EU is negotiating laws to renovate buildings faster to use less energy, and said voluntary actions such as turning down thermostats could cut gas and oil demand by 5 percent.

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History of this topic

UK announces fresh sanctions on Russian energy
6 days, 7 hours ago

UK announces fresh sanctions on Russian energy

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 The UK has announced a fresh wave of sanctions on …

EU lawmakers approve a deal to raise renewable energy target to 42.5% of total consumption by 2030
1 year, 3 months ago

EU lawmakers approve a deal to raise renewable energy target to 42.5% of total consumption by 2030

Associated Press  

STRASBOURG, France — European Union lawmakers endorsed a deal Tuesday to raise the share of renewables in the bloc’s energy mix, another step to accelerate its green transition away from fossil fuels. The bill, adopted by a large majority — 470 lawmakers voted in favor, 120 against and 40 abstained — foresees an updated renewable energy target of 42.5% of …

Germany hails EU deal on renewable energy raising target for 2030 to 45%
1 year, 6 months ago

Germany hails EU deal on renewable energy raising target for 2030 to 45%

Associated Press  

BERLIN — Germany’s economy minister welcomed a deal Friday among European Union countries to increase by more than a third the bloc’s renewable energy target for 2030. “The new European rules will trigger an investment boom for renewables and make it legally binding,” said Economy Minister Robert Habeck, whose portfolio includes energy and climate. Under the new rules, countries that …

EU told to slash greenhouse gas emissions 90-95% by 2040
1 year, 6 months ago

EU told to slash greenhouse gas emissions 90-95% by 2040

India Today  

The European Union should commit to slash its net greenhouse gas emissions by as much as 95% by 2040, official advisers said on Thursday, as Brussels prepares a new goal to curb Europe's contribution to climate change. The European Commission is drafting what would be the EU's first legally binding emissions-cutting target for 2040, aimed at guiding the world's third-biggest …

EU ministers fail again on gas price cap to contain costs
2 years 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 …

EU to cap Russian oil at $60 a barrel
2 years ago

EU to cap Russian oil at $60 a barrel

The Telegraph  

The EU is planning to roll out a price cap on Russian oil of $60 a barrel in an effort to curb Putin’s energy revenues. EU countries and the G7 have been locked in discussions for months over a potential price cap, which is designed to target the Kremlin’s vast income from energy. The G7 last week proposed a cap …

Preparing to face the looming energy crisis in winter
2 years, 1 month ago

Preparing to face the looming energy crisis in winter

Hindustan Times  

With no sign of the end of the Russia-Ukraine war in the future, Europe will likely have a hard time dealing with its energy crisis with winter approaching. With the looming energy crisis, many States have already taken steps through legislation such as incentivising citizens to use public transport, lowering their energy bills, and increasing public ownership of energy companies. …

Is Ukraine war speeding Europe’s transition to renewable energy?
2 years, 1 month ago

Is Ukraine war speeding Europe’s transition to renewable energy?

Al Jazeera  

Shortages are leading to a policy pivot towards a cleaner energy future, but some see a lack of cash to sustain investment. Renewable energy production in Europe reached record levels following Russia’s invasion of Ukraine, leading some energy analysts to predict that Europe is poised to surge forward in creating clean energy. “This can be a historic turning point towards …

EU ministers delay for a month decision on more energy unity
2 years, 1 month ago

EU ministers delay for a month decision on more energy unity

Associated Press  

BRUSSELS — European Union nations on Tuesday gave themselves yet another month to overcome deep differences on groundbreaking measures to shield their citizens from the energy crisis. But because fluctuating global energy markets and different energy mixes among member states — ranging from nuclear to natural gas and other fossil fuels — make smart, lightning-quick decisions wickedly difficult, “many countries, …

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

EU Proposes New Russia Sanctions Including Oil Price Cap Over Latest 'Escalation' in Ukraine
2 years, 2 months ago

EU Proposes New Russia Sanctions Including Oil Price Cap Over Latest 'Escalation' in Ukraine

News 18  

The EU’s executive on Wednesday proposed a new round of sanctions on Moscow over its latest “escalation” in Ukraine, including an oil price cap and ban on Russian exports worth seven billion euros. “Last week, Russia has escalated the invasion of Ukraine to a new level,” European Commission President Ursula von der Leyen said. As part of the new round …

The wrong way to solve Europe’s energy crisis
2 years, 2 months ago

The wrong way to solve Europe’s energy crisis

The Economist  

E UROPE HAS been battered by soaring energy prices since Russia’s bloody invasion of Ukraine. In response Ursula von der Leyen, the president of the European Commission, has proposed reforms to the EU ’s electricity market and unveiled plans for a proposed windfall tax on energy companies. Meanwhile Europe is investigating possible acts of sabotage to Russia’s Nord Stream gas …

EU nations struggle to find joint approach on energy prices
2 years, 3 months ago

EU nations struggle to find joint approach on energy prices

Associated Press  

BRUSSELS — European Union nations struggled to find full consensus Friday on ways to shield the population from dramatically increasing energy prices that threaten to plunge millions into cold and poverty over the winter as Russia chokes off natural gas supplies. While EU members are most interested in lowering prices and getting enough gas, “the commission aimed at limiting Russia’s …

EU wants price cap on Russian gas, energy companies to pay
2 years, 3 months ago

EU wants price cap on Russian gas, energy companies to pay

Associated Press  

BRUSSELS — European Union countries should set a price cap on Russian natural gas and seek a “solidarity contribution” from European oil and gas companies making extraordinary profits as the war in Ukraine drives up energy costs, European Commission President Ursula von der Leyen said Wednesday. “We are facing an extraordinary situation, because Russia is an unreliable supplier but also …

EU to propose price cap on Russian gas, von der Leyen says
2 years, 3 months ago

EU to propose price cap on Russian gas, von der Leyen says

The Hindu  

The European Commission will propose a price cap on Russian gas, alongside measures including a mandatory EU cut in electricity use and a cap on the revenue of non-gas power generators, the bloc's chief said on Wednesday. We must cut Russia's revenues which Vladimir Putin uses to finance this atrocious war in Ukraine," European Commission President Ursula von der Leyen …

Germany announces $65bn plan to combat rising energy prices
2 years, 3 months ago

Germany announces $65bn plan to combat rising energy prices

Al Jazeera  

Several EU nations announce emergency measures to combat skyrocketing energy prices in the wake of Russia’s war in Ukraine. ‘A decisive energy blow’ In his daily video address on Saturday night, Ukrainian President Volodymyr Zelenskyy told Europeans to expect a difficult winter after Moscow shut down the Nord Stream 1 pipeline. Last week Moscow said it would keep the Nord …

Europe braces for Russia gas disruption this week
2 years, 3 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 …

EU countries to reduce gas use by 15% over threats of further supply cuts from Moscow
2 years, 4 months ago

EU countries to reduce gas use by 15% over threats of further supply cuts from Moscow

The Hindu  

European Union member countries agreed to lower their natural gas use by 15% between August and March, in order to prepare for further cuts in gas supply by Moscow. On Monday, Russian gas company Gazprom said it would cut supplies via the Russia-Germany Nord Stream I pipeline, to a fifth of capacity, as tensions continue to be high between Russia …

EU reaches deal to ration gas amid Russian cut-off fears
2 years, 4 months ago

EU reaches deal to ration gas amid Russian cut-off fears

India TV News  

Highlights The new legislation entails voluntary national steps to reduce gas consumption An energy giant said it would limit supplies to EU through the Nord Stream 1 pipeline The energy squeeze is also reviving decades-old political tests for Europe over policy coordination European Union governments agreed Tuesday to ration natural gas this winter to protect themselves against any further supply …

EU struggles with how to cut off its reliance on Russian gas
2 years, 4 months ago

EU struggles with how to cut off its reliance on Russian gas

Associated Press  

BRUSSELS — European Union nations struggled Monday to find common ground on how to wean the bloc off its reliance on Russian natural gas, seeking to appease wary, stressed consumers at home while upholding unity as Moscow turns down the tap. Ukrainian President Volodymyr Zelenskyy on Monday called Russia’s cuts to gas deliveries “a form of terror” and urged European …

EU draws up energy plan in case of Russian gas cutoff
2 years, 5 months ago

EU draws up energy plan in case of Russian gas cutoff

Associated Press  

BRUSSELS — The European Union’s head office on Wednesday proposed that member states cut their gas use by 15% over the coming months as the bloc braced for a possible full Russian cutoff of natural gas supplies that could add a big chill to the upcoming winter. While the initial cuts would be voluntary, the Commission also asked for the …

EU prepares emergency plan to do without Russian energy
2 years, 5 months ago

EU prepares emergency plan to do without Russian energy

Associated Press  

PRAGUE — The European Union’s executive arm on Friday pledged to draft an emergency plan this month aimed at helping member countries do without Russian energy in the wake of the Kremlin’s war in Ukraine. European Commission President Ursula von der Leyen said the initiative would build on EU moves to ditch Russian coal, oil and natural gas and would …

EU prepares emergency plan to do without Russian energy
2 years, 5 months ago

EU prepares emergency plan to do without Russian energy

LA Times  

The European Union’s executive arm on Friday pledged to draft an emergency plan this month aimed at helping member countries do without Russian energy in the wake of the Kremlin’s war in Ukraine. European Commission President Ursula von der Leyen said the initiative would build on EU moves to ditch Russian coal, oil and natural gas and would complement a …

EU leaders tackle inflation, energy shocks from Russia’s war
2 years, 6 months ago

EU leaders tackle inflation, energy shocks from Russia’s war

Associated Press  

BRUSSELS — A day after endorsing Ukraine’s candidacy to join the European Union, the bloc’s leaders turned their attention Friday to the severe economic turbulence from Russia’s war in the neighboring country as the conflict’s full impact sinks in and the threat of recession rises. The EU’s executive arm, the European Commission, on Friday announced plans to issue 50 billion …

Russia may cut off gas completely, Europe must act now, IEA warns
2 years, 6 months ago

Russia may cut off gas completely, Europe must act now, IEA warns

Al Jazeera  

Head of IEA says Europe needs ‘contingency plans’ as Russia may further reduce gas deliveries amid its war in Ukraine. Russia may cut off gas to Europe entirely as it seeks to bolster its political leverage during the Ukraine crisis, the head of the International Energy Agency said, adding Europe needed to prepare now. “I wouldn’t rule out Russia continuing …

Environmental groups challenge EU support for gas projects
2 years, 6 months ago

Environmental groups challenge EU support for gas projects

Associated Press  

BRUSSELS — Campaigning groups have launched legal action to challenge a decision by the European Union’s executive arm to include 30 gas projects in a list of operations considered as beneficial to the 27-nation bloc’s energy market. The campaigners said on Tuesday that the European Commission has given “these climate-destructive projects VIP status, in contradiction of its legal obligations.” They …

EU approves sanctions targeting Russian oil and Sberbank
2 years, 6 months ago

EU approves sanctions targeting Russian oil and Sberbank

Al Jazeera  

The bloc drops the leader of Russia’s Orthodox Church from a proposed blacklist after Hungary opposes the move. The European Union has given its final approval to new sanctions on Russian oil and top bank Sberbank, after much wrangling with Hungary, as punishment for Russian President Vladimir Putin’s February 24 invasion of Ukraine. The sixth round of sanctions also included …

4 EU nations to harness North Sea wind for green transition
2 years, 7 months ago

4 EU nations to harness North Sea wind for green transition

Associated Press  

COPENHAGEN, Denmark — Four European Union countries plan to speed up the continent’s green transition and help wean it off Russian energy imports through a large new project to build wind farms in the North Sea, Danish Prime Minister Mette Frederiksen said Wednesday. She said her country, together with Belgium, the Netherlands and Germany, “want to increase our total offshore …

EU rushes out $300 billion roadmap to ditch Russian energy
2 years, 7 months ago

EU rushes out $300 billion roadmap to ditch Russian energy

Associated Press  

BRUSSELS — The European Union’s executive arm moved Wednesday to jump-start plans for the 27-nation bloc to abandon Russian energy amid the Kremlin’s war in Ukraine, proposing a nearly 300 billion-euro package that includes more efficient use of fuels and faster rollout of renewable power. “The extent to which countries really engage is going to be defining.” The German energy …

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 …

EU’s Russia sanctions effort slows over oil dependency
2 years, 7 months ago

EU’s Russia sanctions effort slows over oil dependency

Associated Press  

BRUSSELS — The European Union’s efforts to impose a new round of sanctions against Russia over the war in Ukraine appeared to bog down on Monday, as a small group of countries continued to oppose a ban on Russian oil imports. But limiting Russia’s energy income by weaning the EU’s dependency on Russian oil — not to mention Russian gas …

EU cuts forecast for economic growth as war’s fallout widens
2 years, 7 months ago

EU cuts forecast for economic growth as war’s fallout widens

Associated Press  

BRUSSELS — The European Union has slashed its forecasts for economic growth in the 27-nation bloc amid the prospect of a drawn-out Russian war in Ukraine and disruptions to energy supplies. The EU’s gross domestic product will expand 2.7% this year and 2.3% in 2023, the bloc’s executive arm said Monday — its first economic predictions since Russia invaded Ukraine …

Europeans weigh costs of cutting Russian energy over Ukraine
2 years, 7 months ago

Europeans weigh costs of cutting Russian energy over Ukraine

Associated Press  

MILAN — Across Europe, rising energy prices are testing the resolve of ordinary consumers and business owners who are caught between the continent’s dependence on cheap Russian energy and its revulsion over President Vladimir Putin’s invasion of Ukraine. European Union countries import 40% of gas and 25% of oil from Russia, and the current EU timetable doesn’t foresee energy independence …

Opinion: Europe should call Russia’s bluff on energy
2 years, 7 months ago

Opinion: Europe should call Russia’s bluff on energy

CNN  

Editor’s Note: Paul Hockenos is a Berlin-based journalist who writes about energy and climate. Russia’s announcement last week that it was halting all gas deliveries to Poland and Bulgaria may have sounded like a bombshell, perhaps even presaging a complete suspension of gas flows to all of Europe. It should implement a full-scale oil embargo, as European Commission president Ursula …

EU proposes phased Russian oil embargo, more sanctions
2 years, 7 months ago

EU proposes phased Russian oil embargo, more sanctions

The Hindu  

The EU proposed its toughest sanctions yet against Russia on Wednesday, including a phased oil embargo, as Ukraine came under further heavy Russian bombardment and nervously monitored large-scale army drills in neighbouring Belarus, a close Moscow ally. Piling pressure on Russia’s already battered $1.8 trillion economy, the European Commission proposed phasing out supplies of Russian crude oil within six months …

Europe’s Russia oil embargo risks flaring already hot inflation
2 years, 7 months ago

Europe’s Russia oil embargo risks flaring already hot inflation

Al Jazeera  

Most Eastern European countries still depend on Russia for more than half of their crude imports. While European Commission President Ursula von der Leyen promises the planned embargo will be implemented “in a way that allows us and our partners to secure alternative supply routes,” German Economy Minister Robert Habeck has warned the region’s top economy will suffer, citing possible …

Experts expect Putin will try to weaponize its energy resources
2 years, 7 months ago

Experts expect Putin will try to weaponize its energy resources

NPR  

Experts expect Putin will try to weaponize its energy resources NPR's Steve Inskeep talks to Daniel Yergin, vice chairman of S&P Global, about the impact of Russian President Putin's move to cut off gas to Poland and Bulgaria on Europe's energy economy. YERGIN: Well, I think it is a major sign that Putin just a couple of weeks ago said …

What Russia cutting off energy to Poland and Bulgaria means for the world
2 years, 7 months ago

What Russia cutting off energy to Poland and Bulgaria means for the world

NPR  

What Russia cutting off energy to Poland and Bulgaria means for the world Enlarge this image toggle caption Janek Skarzynski/AFP via Getty Images Janek Skarzynski/AFP via Getty Images The Russian national energy giant Gazprom announced on Wednesday that it was cutting off natural gas exports to Poland and Bulgaria over the countries' refusal to pay in rubles. Sponsor Message Here's …

German bosses, unions jointly oppose boycott of Russian gas
2 years, 8 months ago

German bosses, unions jointly oppose boycott of Russian gas

Associated Press  

BERLIN — Germany’s employers and unions have joined together in opposing an immediate European Union ban on natural gas imports from Russia over its invasion of Ukraine, saying such a move would lead to factory shutdowns and the loss of jobs in the bloc’s largest economy. “A rapid gas embargo would lead to loss of production, shutdowns, a further de-industrialization …

Will Russia use its gas to ‘blackmail’ Europe? We’re about to find out
2 years, 8 months ago

Will Russia use its gas to ‘blackmail’ Europe? We’re about to find out

CNN  

London CNN Business — In the weeks since Russia invaded Ukraine, Moscow has continued to ship natural gas westward and Europe has used the energy to power industry and heat homes. Germany, Russia’s biggest energy customer in Europe, has dismissed Putin’s directive as “blackmail.” “A payment with rubles is not acceptable,” German economy minister Robert Habeck said Monday, adding that …

Russia-Ukraine war shakes Europe path to energy independence, climate goals
2 years, 8 months ago

Russia-Ukraine war shakes Europe path to energy independence, climate goals

India Today  

Before Russia’s war in Ukraine, Europe’s most pressing energy policy goal was reducing carbon emissions that cause climate change. But longer term, the geopolitical and price pressures stoked by Russia’s war in Ukraine may actually accelerate Europe’s transition away from oil, gas and coal. The rapid pursuit of energy independence from Russia will likely require “a slight increase” in carbon …

War shakes Europe path to energy independence, climate goals
2 years, 8 months ago

War shakes Europe path to energy independence, climate goals

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. Please try again later {{ …

War shakes Europe path to energy independence, climate goals
2 years, 8 months ago

War shakes Europe path to energy independence, climate goals

Associated Press  

BERLIN — Before Russia’s war in Ukraine, Europe’s most pressing energy policy goal was reducing carbon emissions that cause climate change. But longer term, the geopolitical and price pressures stoked by Russia’s war in Ukraine may actually accelerate Europe’s transition away from oil, gas and coal. The rapid pursuit of energy independence from Russia will likely require “a slight increase” …

EU leaders reach compromise on energy after long debate
2 years, 8 months ago

EU leaders reach compromise on energy after long debate

Associated Press  

BRUSSELS — European Union leaders struggled for hours Friday to find a compromise on a deal aimed at curbing energy prices that have gone through the roof and hurt households and businesses across the 27-nation bloc. Leaders, however, did agree on a proposal from the European Commission to move toward the joint purchase of natural gas and ensuring that the …

Ukraine war drives US, EU deal to undercut Russian energy
2 years, 8 months ago

Ukraine war drives US, EU deal to undercut Russian energy

Associated Press  

BRUSSELS — With stunning speed, Russia’s war in Ukraine is driving Western Europe into the outstretched arms of the United States again, especially apparent when President Joe Biden offered a major expansion of natural gas shipments to his European Union counterpart Friday. Talking to European Commission President Ursula von der Leyen, Biden said the core issue was “helping Europe reduce …

US, EU announce plan to reduce European reliance on Russian gas
2 years, 8 months ago

US, EU announce plan to reduce European reliance on Russian gas

Al Jazeera  

A new joint task force to work on slashing the bloc’s dependence on Russian fossil fuels. The United States and the European Union have unveiled a plan to reduce Europe’s dependence on Russian fossil fuels following the invasion of Ukraine. US President Joe Biden and European Commission President Ursula von der Leyen announced the creation of the joint task force …

Nations ‘united’ in seeking to cut Russian oil, gas imports
2 years, 9 months ago

Nations ‘united’ in seeking to cut Russian oil, gas imports

Associated Press  

PARIS — Dozens of nations, including the United States and much of Europe, say they are united in seeking to “radically” reduce imports of Russian oil and gas after its invasion of Ukraine, while ensuring those efforts don’t fuel climate change. At a two-day meeting of the International Energy Agency chaired by U.S. Energy Secretary Jennifer Granholm, governments floated a …

The EU risks running out of steam over sanctions on Russian oil and gas
2 years, 9 months ago

The EU risks running out of steam over sanctions on Russian oil and gas

The Telegraph  

The European Union is showing worrying signs of reverting to type after it surprised the world, and perhaps even itself, with its unified response to the war in Ukraine. Brussels has hit Moscow with four rounds of sanctions on 877 oligarchs and Russian officials, including Vladimir Putin, and 62 businesses, airlines, banks and other entities. EU sanctions require the unanimous …

Energy agency: 10 steps would save 2.7M barrels of oil a day
2 years, 9 months ago

Energy agency: 10 steps would save 2.7M barrels of oil a day

Associated Press  

BERLIN — The International Energy Agency says the world could quickly reduce global oil demand by 2.7 million barrels a day by cutting down on car and plane travel, helping easing the supply crunch caused by Russia’s invasion of Ukraine. The Paris-based agency said in a report released Friday that “practical actions by governments and citizens” could significantly reduce oil …

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