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Russian gas

Russian Gas Company makes £39m profit in North Sea

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Russian Gas Company makes £39m profit in North Sea

http://107.21.149.147/world/2022/11/austria-claims-that-its-reliance-on-russian-gas-supplies-is-waning-2/Despite sanctions, Gazprom continues to supply reduced gas volumes to continental Europe via pipelines. Gazprom International UK, a Gazprom subsidiary, achieved a pre-tax profit of £39 million in 2022. All of Gazprom International UK’s revenues are generated from sales outside the UK. Gazprom has been extracting gas from the Sillimanite field, spanning UK and Dutch … Read more

European economies are harmed by the Russian gas cutoff, while Ukraine reports attacks on coastal districts

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European

In a blow to nations that have supported Ukraine, Russia warned it will limit gas supplies to Europe starting on Wednesday. Meanwhile, missile attacks in Black Sea coastal regions have raised questions about whether Russia will uphold a pact to permit Ukraine to export food. No casualties or injuries have been reported. In a blow … Read more

France’s industry moves to oil out of fear of a Russian gas cutoff

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France's

 Russia reduced flows through Nord Stream 1 pipeline. Its main route for shipping gas into western Europe, to 40% capacity. France relies on Russian gas for 70% of its electricity. Poland’s former energy minister says Europe is heading for a “perfect storm” over the next few months, he warned. France’s energy-serious industry is accelerating alternate … Read more

Russian actions on the Sakhalin-2 project hurt shares of Mitsui

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Mitsui

Shares in Mitsui & Co and Mitsubishi Corp fell about 5% on Friday. Russia moves to create a new firm to take charge of the Sakhalin-2 oil and gas project. Japan has said it would not give up interest in the project, even if asked to leave. Japan continues to import LNG from Sakhalin-2. Shares … Read more

Russian gas to Europe is insufficient as heatwave drives

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Russian gas

Europe may struggle to build up storage in time for winter Approximately 40% of Russian pipeline flows to the European Union pass through the Nordstream German gas supplies are currently stable, according to Germany’s energy regulator, despite the fact that the situation is tight. Due to concerns that Europe may struggle to build up storage … Read more

Germany will lose 5 billion euros each year due to Russian gas restrictions

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Germany

Russia’s decision to stop supplying Gazprom Germania with gas could cost Germany up to $5.4 billion a year in lost revenue, the report says. Gazprom stopped supplying the company in May after Berlin put it under trustee management due to Russia’s invasion of Ukraine. Russia’s approvals against Gazprom Germania and its auxiliaries could cost German … Read more

Russia takes ‘half’ of key city as EU clinches oil deal

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Russia

Russian forces had taken control of half of eastern Ukraine’s key city of Severodonetsk, A senior official said Tuesday, while EU leaders were divided on whether to ban Russian gas after agreeing to embargo most of its oil. Meanwhile, Ukraine has been conducting an investigation into war crimes since the Russian invasion. Officials said thousands of … Read more

Denmark’s Orsted says risk of Russia ending gas supplies

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Denmark

Danish energy company Orsted warned Monday that Russia might cut gas supplies to Denmark soon if it refused to pay in rubles, but that gas could still be secured through the European market. Orsted, formerly DONG Energy, insisted on continuing to pay for Russian gas deliveries in euros and that the payment deadline was May 31. … Read more

Russia may cut gas to Finland soon: energy group

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Russia

Russia may soon cut gas supplies to Finland due to the Nordic country’s refusal to pay Gazprom in rubles, according to the Finnish state-owned Gasum on Tuesday. Gasum said it would take its dispute with Gazprom Export to arbitration, risking further enraged Russia as Helsinki prepares to submit its NATO membership bid on Wednesday. “Gasum … Read more

The gas ‘poker game’ between Russia and Europe

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Russian gas

The decline in Russian gas exports to the European Union has had no significant impact on supply, but it does put pressure on the region to wean itself off Moscow’s energy. Here is a look at the issue: The EU relies heavily on Russian gas, raising concerns that Moscow could use its export to blackmail … Read more

Ten more European gas buyers open payment accounts in rubles

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european gas

Ten more European gas purchasers have opened accounts with Gazprombank JSC, bringing the total number of customers planning to pay for Russian gas in rubles to ten. Twenty European corporations have created accounts, with another 14 clients requesting the necessary paperwork, according to the source, who spoke on the condition of anonymity to discuss secret … Read more

Germany is in a huge dilemma over stopping import of Russia’s gas

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Germany

Germany is in a huge dilemma over stopping import of Russia’s gas Germany is stuck between moral and financial problems of how to get off Russian gas without hurting its economy. Right now, Russia supplies 40% of Germany’s gas, warming homes and fueling its enormous modern area. In any case, each day that Russia’s non-renewable … Read more

EU’s reliance on Russian gas was “absolutely incorrect” – “should have known.”

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Russian gas

Poland and Bulgarian leaders accused Moscow of using natural gas to blackmail their countries after Russia’s state-controlled energy corporation stopped providing them with gas on Wednesday. European Union leaders repeated those statements, scheduling an emergency summit to review Russia’s conduct. Gas was cut off to Poland and Bulgaria after Russian President Vladimir Putin announced that … Read more

EU terms Russian gas halt as ‘unjustified’

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russian

Russia’s plan to halt gas deliveries to European consumers is “an instrument of blackmail,” according to European Commission President Ursula von der Leyen. The action is “unjustified and unacceptable,” she says, and demonstrates Russia’s dependability as a gas provider. She claims that EU member states have contingency plans in place for this situation, and that … Read more

Italy must stop buying Russian gas ‘soon’: minister

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italy

Roberto Cingolani, Italy’s Ecological Transition Minister, said Thursday that the country is morally obligated to stop purchasing Russian gas “soon” because the payments are fueling the conflict in Ukraine. “I think that we will have to stop supplies of gas from Russia soon for ethical reasons,” he told the newspaper La Stampa. In an effort to … Read more

Denmark unveils energy plan to be ‘free from Putin’

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putin

Denmark unveiled a plan on Tuesday to reduce its reliance on Russian gas by increasing renewable energy, biogas, and domestic gas production in order to become “free” of President Vladimir Putin.   While the European Union has so far refused to impose a ban on Russian oil and gas as a result of the Ukraine … Read more

Germany’s ‘sharp recession’ due to Russian gas cuts

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russian gas

FRANKFURT: The sudden cessation of Russian energy supplies will plunge Germany into a “sharp recession” next year, prominent economic forecasters predicted Wednesday. Germany, which relies heavily on Russian gas, has so far rejected demands for a European embargo. A 1.9 percent growth in 2022 and a 2.2 percent contraction in 2023 are predicted if the … Read more

Hungary’s Orban faces united opposition in a tight vote

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Hungarians will vote in a general election on Sunday, following a tense campaign overshadowed by Russia’s invasion of neighbouring Ukraine, with polls favouring incumbent nationalist Prime Minister Viktor Orban. However, Orban’s Fidesz party will confront a united opposition alliance for the first time in its 12 years in power. According to Bulcsu Hunyadi, an analyst … Read more

Europe can only partially replace Russian gas

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russian gas

PARIS: Russia furnishes over 40 per cent of the natural gas Europe imports and in the event it invades Ukraine again those supplies could be at risk, throwing into question European countries’ ability to keep the heat on in the dead of winter. Europe, which imports around two-thirds of its natural gas, has alternatives to … Read more

Ukraine tensions jumble up Germany’s energy puzzle

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ukraine

BERLIN: Rising tensions with Moscow over Ukraine have exposed Germany’s problematic dependence on Russian gas, inflaming an already heated debate over soaring energy prices. As Germany pursues its target to transition to cleaner energy sources over the next decade, Europe’s biggest economy has counted on gas temporarily filling the gap while it builds up its … Read more

Russian gas supplies to Europe under scrutiny

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Russian gas

BERLIN: With the arrival of winter in Europe and energy prices soaring, tensions are running high over the provision of gas from Russia, especially through the Yamal-Europe pipeline that runs through Poland and Belarus. But the Yamal pipeline is just one part of a complex gas infrastructure network shaped not only by energy needs but also … Read more

Gazprom delivered 20.3 billion cubic meters of gas to Turkey

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Gazprom

The Gazprom publicized that its CEO Alexey Miller and Turkish Energy and Natural Resources Minister Fatih Donmez debated two-sided collaboration in the gas sector. In particular, they discussed gas supplies. “From January 1 to September 19, 2021, Gazprom delivered 20.3 billion cubic meters of gas to Turkey. This is a historically record volume for this … Read more

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