EU reaches tentative agreement to overhaul electricity market
The European Union agreed on an overhaul of the bloc’s power market to accelerate the rollout of renewables and curb volatility in electricity prices during the energy transition.
EU
Danish wind turbine manufacturer Vestas returns to profitability in Q3 results
Danish wind turbine manufacturer Vestas (DKK: VWS) has announced a return to profitability as it released its 2023 third quarter results.
Plans underway for £2.7bn Scotland hydrogen pipeline to EU
Scottish Government plans could see the country supply 10% of EU hydrogen demand and create 700 jobs.
European leaders agree massive ramp-up in North Sea offshore wind
A group of Western European nations led by Germany and France have committed to massively ramping up the production of clean energy from wind turbines in the North Sea, to both meet climate targets and reduce their strategic energy dependence on Russia.
EU Lawmakers call on UK to scrap Rosebank oilfield plan ahead of summit
A group of 40 European Union lawmakers have called on UK Prime Minister Rishi Sunak to scrap plans to develop the Rosebank oil and gas field ahead of an energy summit next week.
Asia imports more seaborne Russian oil than Europe, India takes lion’s share
Almost four months after Russia’s invasion of Ukraine, Russian crude oil, Urals, has seen a switch in flow from its traditional market of Europe to Asia. Since the start of the war, based on the average of March to May 2022, Indian imports of Urals crude have picked up by 658% compared to 2021 levels, while for China the increase is 205% and for Asia as a whole 347%, Rystad Energy research shows.
EU leaders back push to ban most Russia oil over Putin’s war
European Union leaders agreed to pursue a partial ban on Russian oil, paving the way for a sixth package of sanctions to punish Russia and its president, Vladimir Putin, for the invasion of Ukraine.
Euro Area would barely grow if Russian gas cut off, EU Says
The euro area’s pandemic recovery would almost grind to a halt, while prices would surge even more quickly if there are serious disruptions to natural-gas supplies from Russia, according to new projections from the European Commission.
Eni prepares to open ruble accounts for gas as EU warns firms
Italian energy giant Eni is preparing to open ruble accounts at Gazprombank JSC, allowing it to potentially comply with Russian demands that gas must be paid for in local currency, according to people familiar with the matter.
‘Toothless, useless’: TotalEnergies slammed by former Shell Ukraine boss
The former deputy country chair of Shell Ukraine has hit out at TotalEnergies over its “toothless, useless and highly disappointing" position on Russia's invasion.
Radical changes proposed to the EU Carbon Border Adjustment mechanism
On July 14, 2021 the EU unveiled its much anticipated ‘Fit for 55’ package of proposals to align the trading block with its 2030 emission reduction targets.
EU leaders fail to agree on energy amid carbon price dispute
European Union leaders failed to reach a deal on how to react to the unprecedented gas crisis that sent energy prices to record levels after Poland and the Czech Republic demanded stronger action to cap the costs of pollution.
UK pushes for deal to end foreign fossil fuel finance
The UK is trying to corral at least 18 countries to agree to stop funding of foreign fossil fuel projects by the end of next year, according to people familiar with the situation.
Brexit ‘delays net-zero goal’, warns SNP minister
Brexit is undermining the battle against the climate emergency, a senior SNP government minister warned.
Europe CO2 prices may rise more than 50% by 2030, EU draft shows
The price of polluting in the European Union may rise to as much as 85 euros a metric ton by the end of the decade as the bloc tightens its carbon market and forces a swifter shift to clean energy, according to a draft analysis by the EU’s executive arm.
EU green bond rules will be voluntary, draft shows
The European Union’s green bond standard will be voluntary rather than binding for issuers, according to a draft document seen by Bloomberg.
May 19: The end of Anne Boleyn… and the start of the UK ETS
The person in the street may not regard the 19th of May as a date of any real significance.
UK leads £37billion of Europe wind investment in 2020
Europe ploughed more than £37billion (€43bn) of investment into new wind farm projects in 2020, led by the UK, according to analysis.
Small North Sea start-up facing ‘frightening’ Brexit costs
The head of a small North Sea start-up company has said he is “frightened” by rising export costs due to Brexit.
Waste management in the UK post-Brexit
With less than 30 days to go until the end of the Brexit transition period at the end of December, many questions remain unanswered as to what the impact will be on waste management in the UK.
Turkey calls for Mediterranean gas exploration talks as EU considers sanctions
President Recep Tayyip Erdogan has called for negotiations over gas exploration rights for Turkey in the eastern Mediterranean as EU leaders consider sanctions.
Looking forward to Brexit?
The theme for this issue of Energy Voice is looking back on 2020 and looking forward to 2021 – I think most of us can’t wait to put 2020 behind us, so I thought I would focus on the future. One thing the future holds for us is Brexit.
BP and Orsted link up for industrial green hydrogen project
BP and Danish energy firm Orsted will team up to develop large-scale green hydrogen production at a refinery in north-west Germany.
EU Warns that ties with Turkey are at a ‘watershed moment’
European Union foreign-policy chief Josep Borrell said EU relations with Turkey are at a crossroads as the bloc presses Ankara to halt controversial energy exploration in the eastern Mediterranean.
EU approves biggest green stimulus in history with $572bn plan
European governments approved the most ambitious climate change plan to date, agreeing to pour more than 500 billion euros ($572 billion) into everything from electric cars to renewable energy and agriculture.