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Tag: Europe

Gazprom completely stopped the flow of natural gas in Nord Stream – ‘Discovered’ a technical problem

Gazprom completely stopped the flow of natural gas in Nord Stream – ‘Discovered’ a technical problem Gazprom completely stopped the flow of natural gas in Nord Stream – ‘Discovered’ a technical problem

LAST UPDATE: 21.09 The Russian state energy giant Gazprom announced that the Nord Stream 1 natural gas pipeline, which connects Russia to Germany, cannot restart as planned on Saturday, as a new technical problem was discovered, Bloomberg reported. It is a major blow to Europe, which is trying to fill its natural gas reserves ahead […]

Euro markets closed with strong gains – Dax ‘jump’ over 3%

Euro markets closed with strong gains – Dax ‘jump’ over 3% Euro markets closed with strong gains – Dax ‘jump’ over 3%

Euro markets closed with strong gains on Friday, snapping a five-session losing streak, as investors weighed data released earlier today in the US labor market. The data showed that the US economy continued to add new jobs in August, although the pace slowed compared to the previous month, while wages continued to be on an […]

EU plan to intervene in energy markets – ‘There are limits’ to what it can achieve

EU plan to intervene in energy markets – ‘There are limits’ to what it can achieve EU plan to intervene in energy markets – ‘There are limits’ to what it can achieve

An emergency intervention in European electricity markets may lower prices but will not protect the region’s economy from the knock-on effects of a historic energy crisis, according to the Commission. The European Union is working on measures to curb electricity costs as Russia cuts shipments of natural gas needed to power power plants weeks before […]

Reuters: It is not enough to store natural gas, consumption must also be reduced

Reuters: It is not enough to store natural gas, consumption must also be reduced Reuters: It is not enough to store natural gas, consumption must also be reduced

The European Union is on track to meet its gas storage targets, but analysts warn that the most important factor for energy security this winter will be whether countries can cut consumption enough to ensure that stored natural gas will last through the coldest months, Kate Abnett and Bozorgmehr Sharafedin note in a Reuters analysis. […]

Russia cuts natural gas again – Nord Stream shut down

Russia cuts natural gas again – Nord Stream shut down Russia cuts natural gas again – Nord Stream shut down

LAST UPDATE: 14.01 Russian energy giant Gazprom announced today that it has “completely” suspended gas deliveries to Europe via the Nord Stream 1 pipeline due to maintenance work expected to last three days. Work “on a gas compression station has started,” the Russian company said in a statement posted on Telegram. Meanwhile, the Dutch natural […]

Europe is approaching its natural gas storage target early despite falling Russian supply

Europe is approaching its natural gas storage target early despite falling Russian supply Europe is approaching its natural gas storage target early despite falling Russian supply

The European Union is set to meet its goal of filling natural gas reserves two months ahead of schedule, with the bloc bracing for a harsh winter as Russia cuts supplies and rising energy prices, the Bloomberg agency. Inventories in the EU were 79.4% full by August 27, compared with a target of 80% by […]

Europe Approaches Gas Storage Target Despite Reduced Russian Supply – Bloomberg

Europe Approaches Gas Storage Target Despite Reduced Russian Supply – Bloomberg Europe Approaches Gas Storage Target Despite Reduced Russian Supply – Bloomberg

The market’s cautious optimism was further strengthened by the latest news from Bloomberg on the Eurozone’s ability to fight the energy crisis during the Asian session on Tuesday. “The European Union is ready to meet its gas storage target two months ahead of scheduleas the bloc braces for a harsh winter as Russia limits supplies […]

The German-Danish wind hub in the Baltic will help replace Russian natural gas

The German-Danish wind hub in the Baltic will help replace Russian natural gas The German-Danish wind hub in the Baltic will help replace Russian natural gas

LAST UPDATE: 10:41 A €9 billion offshore wind power hub planned in the Baltic would mark a major step in weaning Europe off Russian gas, according to Bloomberg, citing the governments of Germany and Denmark. The so-called Bornhold Energy Island in the Baltic Sea will connect various wind farms and distribute the energy they produce […]

FT: EU to suspend Russian visa deal

FT: EU to suspend Russian visa deal FT: EU to suspend Russian visa deal

EU foreign ministers are this week to back the suspension of the bloc’s deal with Moscow to facilitate the issuance of permits in a bid to reduce visas issued after some eastern member states threatened to unilaterally close their borders to Russian tourists, according to a Financial Times report. As a first step, ministers plan […]

Europe – Britain: No ironing, daily shower, food in the oven – Millions of households threatened with energy poverty

Europe – Britain: No ironing, daily shower, food in the oven – Millions of households threatened with energy poverty Europe – Britain: No ironing, daily shower, food in the oven – Millions of households threatened with energy poverty

Forget ironing, turn off the oven and take a shower at work – Europeans are trying to cut down on energy use, but their electricity bills are getting higher and higher. As wholesale gas and electricity prices have soared, millions of people in Europe now spend a very large proportion of their income on energy. […]