MPs have been told that offering new oil and gas licences in the UK North Sea “is not a reasonable response” to the price crisis being triggered by the invasion of Ukraine.
Boris Johnson is preparing a new UK energy strategy, it is reported, which could involve more North Sea oil and gas production.
Russia threatened to cut natural gas supplies to Europe via the Nord Stream 1 pipeline as part of its response to sanctions imposed over the invasion of Ukraine, a move that could heighten the turmoil in energy markets and drive consumer prices even higher.
Boris Johnson wants a “climate change pass” for the gas industry to wean western countries off supplies from Russia.
Even the “tiny fraction” of gas that the UK takes from Russia is “too much”, business secretary Kwasi Kwarteng has said.
The Biden administration is considering whether to prohibit Russian oil imports into the US without the participation of allies in Europe, at least initially, according to two people familiar with the matter.
The Ukraine crisis has pushed Moscow and Beijing closer together as Russia and China jointly push back against US dominance.
It is fair to say that without innovation there will be no energy transition. The wholesale move to carbon-neutral energy systems, in less than three decades, is a task that demands almost undreamt-of levels of industrial creativity. And unlike other areas of innovation, such as those seen in technology and finance, the evolution required for the energy transition is one that is central to civilisation as we know it.
It is unlikely that Europe will agree to cutting gas flows from Russia, but the invasion of Ukraine has had a clear impact on security of supply considerations.
Europe’s top energy companies are rushing to buy more Russian gas even after President Vladimir Putin’s forces attacked Ukraine.
The LNG gap will widen by mid-decade leaving Europe in a particularly tight spot, Shell has warned in its annual outlook.
Energy prices surged after Russian President Vladimir Putin signed an order to send what he called “peacekeeping forces” to the two breakaway areas of Ukraine that he officially recognized on Monday.
Europe is too reliant on Russian gas. In fact, Europe is too reliant on gas full stop but it being mainly Russian gas makes it even more problematic.
Amid the departure of Shell and the planned closure of the country’s largest gas field, producers in the Netherlands are calling for greater clarity over the future of the Dutch North Sea.
If the disruption to Russian gas deliveries spread beyond flows through Ukraine to include all Russian pipeline exports to Europe, liquefied natural gas (LNG) imports alone would not be able to meet the shortfall and additional supply levers would be required, the latest analysis from IHS Markit shows. Under such an extreme scenario mothballed coal and nuclear power would need to be restarted.
Japan will make sure its own energy demands are met before aiding Europe with shipments of liquefied natural gas (LNG) in the event conflict erupts over Ukraine, according to the nation’s trade minister.
The Biden administration and European allies are searching the world for surplus natural gas to send to Europe in the event conflict erupts over Ukraine, including approaching China about its supplies, according to people familiar with the matter.
UK energy prices will be “vulnerable” to the impacts of Russia’s threatened invasion of Ukraine, trade body Oil and Gas UK (OGUK) has warned.
An initial public offering (IPO) is to be launched for Norwegian operator Var Energi, ownership partners Eni and HitecVision have announced.
European natural gas slumped as a top LNG importer in China prepares to flood the market with fuel that could further ease supply concerns in the continent.
The world’s top market for subsea tie-backs will take an inflation-driven cost increase of £4.8billion on upcoming contract awards through to 2026.
There are “sizeable barriers” between making the hopper of “proposed” hydrogen projects in the UK and Europe an economic reality, according to new research.
Signs are beginning to emerge that the energy crisis that has plagued much of Europe in 2021 may be more than a blip.
European natural gas extended its declining streak to the longest in more than a year as shipments from the U.S. look set to ease the region’s energy crunch.
European power climbed to a fresh record as France faces a winter supply crunch, with heavy industries forced to curb production across the region.