The madness in Ukraine has dramatically fast-forwarded issues that were already in the making. Soaring energy prices, over-reliance on imported gas, storage which is essential to facilitate the growth of renewables … the list goes on and on.
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.
A Ukrainian energy expert living in Aberdeen hopes the bravery displayed by her countrymen will lead to further action against Russia, including UK sanctions on its fossil fuels.
First BP, then Shell. In just two days, Britain’s twin energy giants have dumped Russian investments nurtured over decades and shut themselves out of the world’s largest energy exporter, probably forever.
Demand destruction is the only thing that can stop oil shooting higher after the US and European allies unleashed additional curbs on Russia following its invasion of Ukraine, according to Goldman Sachs Group Inc.
Germany pledged new support for liquefied natural gas (LNG) terminals, the latest sign it’s willing to retool its energy policy in the wake of Russia’s invasion of Ukraine.
Europe’s top energy companies are rushing to buy more Russian gas even after President Vladimir Putin’s forces attacked Ukraine.
A global energy crisis looks likely to unfold after oil prices spiked above $100 per barrel yesterday as Russian tanks and troops moved closer to Ukraine’s capital.
Brent oil surged above $100 a barrel for the first time since 2014 as an attack by Russia on cities across Ukraine sparked fears of a disruption to the region’s critical energy exports.
European natural gas prices fluctuated, whipsawed by Russian President Vladimir Putin’s plans to decide on recognition of separatist regions of eastern Ukraine on Monday.
Soaring gasoline prices are fanning inflation and causing a headache for governments and central banks worldwide. In countries with elections coming up, they’re an extra headwind for the incumbents.
Oil prices could be set for a “prolonged period” above $100 a barrel over the next six to nine months, with the world setting fresh demand records this year, said Vitol Group chief executive Russell Hardy.
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.
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.
Russia and China are strengthening their energy alliance after agreeing another long-term gas pipeline supply deal amid Moscow’s strained relationship with the West over Ukraine and European gas supply issues.
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.
Thailand’s PTT Exploration & Production (PTTEP) (BKK:PTTEP) looks set to takeover operatorship at the Yadana gas project offshore Myanmar after TotalEnergies announced its decision to withdraw from the troubled country last week.
The Netherlands is throwing a hydrogen life preserver to pipelines that are on the brink of becoming stranded assets.
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.
Inpex is set to start an exploration drilling campaign offshore Japan as it seeks to prove up new oil and gas fields, which if commercialised will mark the nation’s first new offshore gas development in over three decades.
Malaysia’s Petronas and the Sabah State Government on Tuesday launched the Sabah gas masterplan that serves as a reference for both parties in guiding the way forward for the further development of natural gas in the Malaysian state.
South Korea’s government is being criticised for including natural gas in a category of activities that it deems will help cut emissions.
A longstanding US lawsuit filed against ExxonMobil (NYSE:XOM) that alleges the oil and gas giant was responsible for human rights violations, including sexual assault, battery and wrongful death, that was committed by members of the Indonesian military, could be heard in court within months, reported Nikkei Asia.
The European Union is planning to allow some natural-gas and nuclear energy projects to be classified as sustainable investments in a proposal that sparked immediate criticism from the Greens.