Category Archives: Gas

As UK households feel pressure, how are other European countries tackling energy crisis?

Posted on by

Many European countries are a step ahead of the British government, which has yet to announce plans to help homes facing annual bills of almost £2,000

In the next week Great Britain’s energy regulator will announce the steepest rise ever in its energy price cap, effectively saddling millions of households with an annual energy bill of close to £2,000.

The blow to household finances follows almost six months of record high energy market prices because of the global gas crisis. Despite the deepening gloom facing bill payers, ministers are yet to agree a package of measures to prevent a national energy crisis.

Continue reading...

Kyiv urges Russia to pull troops back from Ukraine border

Posted on by

Call comes after Nato stresses need for EU countries to reduce dependence on Russian natural gas

Kyiv has urged Moscow to pull back its troops from Ukraine’s border and continue dialogue with the west if it is “serious” about de-escalating tensions that have soared amid fears of a Russian invasion.

“If Russian officials are serious when they say they don’t want a new war, Russia must continue diplomatic engagement and pull back military forces it amassed along Ukraine’s borders and in the temporarily occupied territories of Ukraine,” Kyiv’s foreign minister, Dmytro Kuleba, tweeted on Sunday.

Continue reading...

Qatar in talks to supply gas to Europe if Russia cuts supplies

Posted on by

Emir expected to tell US president Qatar can provide short-term emergency liquid gas to help replace any loss of supplies

The emir of Qatar, Sheikh Tamim bin Hamad al-Thani, is expected to tell the US president, Joe Biden, that his country will provide some short-term emergency liquid gas to help replace any shortages if Russia cuts off supplies to Germany.

Qatar is looking to supply Europe through transferring excess gas in storage in east Asia. It is also hoping to return to the European market on a bigger scale as its own production levels rise, but wants to see an end to a European Commission anti-trust investigation.

Continue reading...

US finalizing plans to divert gas to Europe if Russia cuts off supply

Posted on by

Officials working with global suppliers to avoid European gas crisis if flow from Russia is cut as Biden says he would consider personal sanctions against Putin

The US has helped prepare for the diversion of natural gas supplies from around the world to Europe in the event that the flow from Russia is cut, in an effort to blunt Vladimir Putin’s most powerful economic weapon.

As fears of an invasion of Ukraine have grown, US officials said on Tuesday that they had been negotiating with global suppliers, and they were now confident that Europe would not suffer from a sudden loss of energy for heating in the middle of winter.

Continue reading...

Fury as EU moves ahead with plans to label gas and nuclear as ‘green’

Posted on by

Brussels faces backlash and charges of greenwashing after publishing draft proposals on New Year’s Eve

The European Commission is facing a furious backlash over plans to allow gas and nuclear to be labelled as “green” investments, as Germany’s economy minister led the charge against “greenwashing”.

The EU executive was accused of trying to bury the proposals by releasing long-delayed technical rules on its green investment guidebook to diplomats on New Year’s Eve, hours before a deadline expired.

Continue reading...

Nord Stream 2: how Putin’s pipeline paralysed the west

Posted on by

Gazprom’s $11bn project to deliver gas from Russia to Germany seems impossible to abandon and impossible to carry forward

The saga of Nord Stream 2, the gas pipeline between Russia and Germany running along the Baltic seabed, has been stuck so long it has been likened to a suitcase at an airport without a handle – impossible to abandon, and impossible to carry forward. Most of the original cast of characters – Jean-Claude Juncker, Angela Merkel, Matteo Renzi, David Cameron, Petro Poroshenko – have left the political stage. Only one politician has survived the entire story: Vladimir Putin, the Russian President, and the master of divide and rule.

First announced in 2015, the $11bn (£8.3bn) pipeline owned by Russia’s state-backed energy giant Gazprom has been built to carry gas from western Siberia, doubling the existing capacity of the Nord Stream 1 pipeline and keeping 26m German homes warm at an affordable price.

Continue reading...

Kremlin denies restricting gas supplies to Europe for political gain

Posted on by

European gas prices climb close to record highs as flows on key pipeline move towards Russia

The Kremlin has denied using Russia’s gas resources to turn the screw on Europe, after gas in a pipeline to Germany switched direction to flow eastwards for a second day, keeping prices near record highs as midwinter approaches.

Flows through the Yamal-Europe pipeline to Germany declined over the weekend before stopping on Tuesday and reversing, data from the network operator Gascade showed.

Continue reading...

EU in row over inclusion of gas and nuclear in sustainability guidance

Posted on by

Activists including Greta Thunberg criticise ‘fake climate action’ in response to planned investment taxonomy

The European Commission is facing a backlash from Greta Thunberg and fellow climate activists over plans to include gas and nuclear energy in a “green” investment guidebook.

Both energy sources are expected to feature in the next part of the EU’s “taxonomy for sustainable activities”, which is expected at the end of the year, following a period of intense political bargaining between the commission president, Ursula von der Leyen; the French president, Emmanuel Macron; and Germany’s new chancellor, Olaf Scholz.

Continue reading...

Gas crisis fuels call for UK to update energy security policy

Posted on by

As rising tensions with Russia over Ukraine drive prices to record highs, experts warn of lack of strategy for gas supply

Ministers are relying on an outdated energy security policy, leading academics have warned, as escalating tensions between Russia and western leaders propelled the gas market to record price highs.

UK gas reached a record closing price of 322.5 pence per therm on Tuesday, according to data from market price experts at ICIS, vaulting ahead of the previous high of just over 298p/therm set in early October this year.

Continue reading...

Gazprom profits as Russia prospers from Europe’s gas crisis

Posted on by

State-owned company accused of ‘selling as much gas as possible without lowering market prices’

• Gas prices near record highs as Berlin rejects pipeline from Russia

About 12.7bn cubic feet of gas flowed into Europe from Russia’s state-owned Gazprom last month. The world’s largest gas producer typically supplies more than a third of the needs of countries across the European Union, but in November flows dwindled to a six-year low.

Gas supplies from Russia have fallen well short of pre-pandemic levels for months. The volumes of Russian gas flowing into homes, businesses and storage facilities this year have been almost a quarter below those in 2019.

Continue reading...

Gas prices near record highs as Berlin rejects pipeline from Russia

Posted on by

Germany says escalating tensions over Ukraine are one factor in Nord Stream 2 not getting green light

• Gazprom profits as Russia prospers from Europe’s gas crisis

Gas prices across the UK and Europe are on course to return to record highs after Germany said a controversial pipeline from Russia could not be approved amid deepening tensions on the Ukrainian border.

The German foreign minister, Annalena Baerbock, said the Nord Stream 2 pipeline could not be given the green light in its current form because it did not meet the requirements of EU energy law.

Continue reading...

Germany’s foreign minister under pressure over Nord Stream 2 sanctions

Posted on by

Annalena Baerbock has sympathy with US demands, but there is considerable Social Democrat support for Russia’s pipeline

Germany’s new foreign minister, Annalena Baerbock, has been caught a diplomatic vice days into the job, as US puts pressure on the coalition government in Berlin to vow to block the Nord Stream 2 pipeline in the event of Russia invading Ukraine.

The controversial pipeline project, which runs from Ust-Luga in Russia to Lubmin in north-east Germany, is also likely to be the first test of the new German government’s unity of approach.

Continue reading...

UK ‘embarrassed’ into funding Mozambique gas project, court hears

Posted on by

Friends of the Earth cites documents suggesting UK’s reputation could suffer if it pulled $1.15bn of promised support

The UK was “embarrassed” into funding a huge gas project in Mozambique while considering ending overseas support for fossil fuels, a court has heard.

During a three-day high court hearing, Friends of the Earth highlighted government documents that suggested there would be “obvious repercussions” if the government did not follow through on $1.15bn of support to an offshore pipeline and liquefied natural gas plant in Cabo Delgado province.

Continue reading...

Old UK oilwells could be turned into CO2 burial test sites

Posted on by

Exclusive: Consortium of energy firms and universities says underground storage of hydrogen can also be investigated

Exhausted oil and gas wells would be turned into the UK’s first deep test sites for burying carbon dioxide next year, under plans from a consortium of universities and energy companies.

There are hundreds of active onshore oil and gas wells in the UK. But as they come to the end of their lives, some need to be redeployed for trials of pumping CO2 underground and monitoring it to ensure it does not escape, the group says. The test wells could also be used to assess how hydrogen can be stored underground.

Continue reading...

Germany suspends approval for Nord Stream 2 gas pipeline

Posted on by

Move follows mounting politcal pressure to scrap project in setback to Kremlin-backed project

Germany has suspended its approval process for the controversial Nord Stream 2 gas pipeline which would double its reliance on Russian gas following growing geopolitical pressure to scrap the project.

Energy markets across Europe surged after the German energy regulator suspended its certification process, in a big setback to Kremlin-backed Gazprom’s plans to extend Russian gas dominance via a new pipeline across the Baltic Sea.

Continue reading...

Claims that Russia is using energy as a weapon is nonsense, says Putin – video

Posted on by

President Vladimir Putin says Russia is ready to provide more gas to Europe if requested, emphatically rejecting the suggestion that Moscow is squeezing supplies for political motives. European gas prices have hit record levels this month, but the Kremlin has repeatedly denied that Russia is deliberately withholding supplies in order to exert pressure for quick regulatory approval of the Nord Stream 2 gas pipeline across the Baltic Sea to Germany

Continue reading...

Europe’s soaring gas prices: does Russia hold solution to crisis?

Posted on by

Some believe Kremlin sees gas prices as chance for Gazprom to pressure west to speed up Nord Stream 2 approval

The natural gas market has entered uncharted territory. The movements in the price of gas on Wednesday had been, in the words of one analyst, “unprecedented since the year dot of gas liberalisation in Europe”. In record swings, Dutch wholesale gas, a European benchmark, soared by 30% within one period of three or four hours from an already eye-watering level.

These are chilling numbers for European governments with winter stretching ahead, and when the EU sneezes, the UK, heavily reliant on imports from across the Channel, also catches a cold.

Continue reading...

Nord Stream 2 approval may cool gas prices in Europe, says Russia

Posted on by

Deputy PM calls for rapid clearance from German regulator after prices reach an all-time high

Russia’s deputy prime minister has said certification of the Nord Stream 2 undersea gas pipeline, which is awaiting clearance from Germany’s regulator, could cool soaring European gas prices.

Prices have risen sharply in response to a recovery in demand, particularly from Asia, with storage levels low.

Continue reading...

Business minister bids to calm crisis fears as UK gas prices soar

Posted on by

No cause for alarm now, says Kwasi Kwarteng as energy discussions are likened to early Covid crisis talks

The government was scrambling on Saturday night to reassure Britons that rising gas prices would not plunge the country into an energy crisis, as ministers held a series of emergency meetings with energy companies and regulators to establish whether the nation could keep the lights and central heating on this winter.

A senior industry insider likened the meetings held between the business secretary, Kwasi Kwarteng, and energy industry leaders to the early crisis talks held following the outbreak of Covid-19.

Continue reading...