Tag Archives: energy

Hungary needs to buy an extra 700 million cubic meters of natural gas this year to ensure its energy safety and this is “simply impossible” to do without Russia, Hungarian Foreign Minister Peter Szijjarto said on Thursday. Speaking in Moscow at a joint press conference with his Russian counterpart, Sergey …

The EU imposed sanctions against Moscow and closed off supply routes, but now wants to blame the gas shortages on Gazprom, Russian President Vladimir Putin said on Tuesday. Russia is ready to deliver as much gas as Europe needs, if the EU wishes to stop “stepping on rakes,” Putin said …

International ratings agency Moody’s said on Wednesday that Germany’s target of reducing its dependency on Russian gas to 10% by 2024 will be difficult. “While Germany has already gradually reduced its reliance [on Russian imports] from 60% in 2020 to 35% by mid-April, reaching the 10% target means replacing about …

For years, the Western world saw profits in new green and renewable energy sectors and sang from their hymn book on the need to reduce carbon footprints by ditching fossil fuels, or to avoid a potential Chernobyl-style environmental catastrophe by ditching nuclear power. Western officials were going to either earbend their …

Operational challenges arising from soaring energy bills have put the entire US industrial complex at risk of partial shutdown, Bloomberg reported on Thursday. The country’s second-biggest aluminum mill, which accounts for 20% of the national supply, reportedly laid off 600 workers in late June after its electricity bill tripled. Century …

Banks in Germany are expected to put aside extra funds to be able to tackle a potential spike in defaults if Russia cuts off natural gas supplies, several high-ranking banking officials said, as quoted by Bloomberg. In case of a complete suspension of Russian gas supplies, Europe’s largest economy is …

European states are shooting themselves in the foot by imposing restrictions on Russia, according to Igor Sechin, the head of Russian oil giant Rosneft. “Europe is committing energy suicide by imposing sanctions on Russia,” Sechin said at the St. Petersburg International Economic Forum (SPIEF). “They [European states] lose their identity …

When the leaders of the three leading EU countries – Germany, France, and Italy – took a train to Kiev to meet with President Volodymyr Zelensky, this week, the public show was one of solidarity and support. But there could be much more to the visit than meets the eye.  …

Serbian President Aleksandar Vucic said on Wednesday he has agreed a favorable price for Russian natural gas imports under the terms of a new energy deal. “We agreed with Russian partners on the volumes at the lowest, very low price – from $360 to $410 per 1,000 cubic meters for …

The US Treasury Department on Tuesday issued a general license authorizing energy-related transactions with sanctioned Russian banks through December 5. The previous license was due to expire on June 24. According to the document, published on the department’s website, transactions will be allowed with Vnesheconombank, Otkritie, Sovcombank, Sberbank, VTB, Alfa-Bank, …