In May, Breaking Energy covered the G7 energy ministers’ special meeting in Rome. Back on the agenda thanks to the Ukraine crisis was European energy security, which is a topic of continuous deliberation, failed attempts at improving the European status quo such as the Nabucco pipeline project and, above all, complacency. Member states discussed how… Keep reading →
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Energy Quote of the Day: ‘It Would be to Europe’s Detriment to Ditch the Workhorses of Its Energy System…’
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We will never sell or share your information without your consent. See our privacy policy.Opinion: Europe Needs Gas Supply Diversification Now
By Ryan OuwerkerkIn light of recent events in Ukraine, it is in imperative that the European Union break the stranglehold that Russia currently has on the European natural gas market, and begin the search to diversify their sources of natural gas. By doing so, the European Union can insulate itself from the deleterious economic effects that may… Keep reading →
Energy News Roundup: IEA Pins World Energy Needs at $48 Trillion, In Favor of CCS and Russia Takes IOU
By Jared AndersonGlobal energy investment requirements through 2035 amount to $2.5 trillion annually, with $40 trillion devoted to maintaining current supply levels and developing incremental sources to meet anticipated demand. An additional $8 trillion is needed for energy efficiency measures, according the to the OECD’s energy watchdog. [International New York Times] The EPA’s newly-released plan to cut… Keep reading →
Energy News Roundup: Ukraine Gas Debt Deadline and Nigeria Cracks Down on Illegal Oil Operations
By Jared AndersonUkraine’s deadline for paying its Russian natural gas debt – roughly $2 billion owed to Gazprom – expired last night. Gazprom has said it will shut off gas supplies at 10:00 Moscow time June 3rd, meaning European nations receiving gas via pipelines that transit Ukraine could also be cut off. [Radio Free Europe] The Nigerian… Keep reading →
Energy News Roundup: ‘Ratepayer’ is a Dirty Word, Putin and the Orphaned Tiger & Hess Truck Lives On
By Jared AndersonFERC has been shifting the terminology used to describe electricity consumers from “ratepayers” to “customers,” which better reflects current realities in the evolving utility industry. “The journey away from “ratepayer” starts when thinking about the utility as a provider of energy efficiency, demand response and other demand-side management techniques. When the utility is partly in… Keep reading →
Energy News Roundup: As Dust Settles on Russia-China Gas Deal, Important Questions Remain
By Jared AndersonAfter some initially-confused western reporting, it’s now clear Russia’s Gazprom finally did close a long-term natural gas deal with Chinese national oil company CNPC. However, there is still wide speculation about the agreed price – a sticking point that held up the deal’s closure for a decade – and equally if not more importantly, questions… Keep reading →
Energy News Roundup: MOU or Contract for Gazprom & CNPC? and Israeli Gas Export Stumbling Blocks
By Jared AndersonIt appears Gazprom and CNPC reached an agreement on a widely-speculated deal that was expected to be consummated upon Putin’s China visit this week. Reuters is reporting a sales and purchase agreement was struck, but the New York Times reports it could just be a memorandum of understanding, which is not binding and indicates ongoing… Keep reading →
Energy News Roundup: Turkish Coal Disaster Continues, US LNG Exports Closer After FERC Decision & Gazprom to List Shares in Singapore
By Jared AndersonAs the death toll in a coal mine explosion in the western Turkish town of Soma climbs toward 300, devastated workers and residents are lashing out at the country’s leadership. Widespread protests have broken out in several cities as people blame the government for prioritizing profit over safety. Numerous coal mining operations have been privatized,… Keep reading →
Europe’s Short-term Russian Gas Replacement Options; Estimated Costs for Russia and EU
By Roman KilisekA Russian natural gas supply cutoff to Ukraine due to unpaid bills in the amount of $3.51 billion – which could occur next month – would also indirectly impact the European Union. Over half of Russia’s gas exports to Europe transit the Ukraine. A recent Bloomberg article draws the conclusion that it will be extremely difficult for Europe… Keep reading →
It appears increasingly likely that Russia’s Gazprom will finally ink a long-term natural gas supply deal with Chinese national oil company CNPC next week, although price negotiations continue, as they have for over a decade. China is set to receive greater volumes of gas from Turkmenistan – and recently met with the country’s President Gurbanguly… Keep reading →