Throughout the entire Cold War and in the decades since, Russia was a stable supplier of gas to Europe. That changed this week.
Russia slashed gas supplies in apparent retaliation over Europe’s support for Kyiv. After its biggest moves yet to use energy as a weapon, gas rationing in the region is now a very real prospect.
Germany’s Uniper SE, the biggest buyer of Russian gas in Europe, is receiving 60% less gas than ordered. Italy’s Eni SpA received just half of its requested volumes from state-owned Gazprom PJSC on Friday, and France’s Engie SA and Austria’s OMV AG have been hit as well. China, the world’s top importer of LNG in 2021, has cut back spot purchases this year after COVID-19 restrictions sapped demand. But usage is likely to bounce back this winter, pitting China against Europe for a dwindling amount of spare LNG. Repairs to a key Texas export terminal will further hamper supply.
“Everything depends on the EU gas-sharing mechanism between countries, and regulatory decisions on how to share available gas within countries,” Jonathan Stern, a distinguished research fellow at the Oxford Institute for Energy Studies. “An early cold, windless winter would create early problems.”
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hot weekend for Europe, officials warn of extreme fire riskPeople flocked to parks and pools across Western Europe for a bit of respite from an early heat wave that saw the mercury rise above 40 C (104 F) in France and Spain, and highs of 38 C (100.4 F) in Germany.
Read more »
Russian gas to Europe falls short as heatwave drives demandRussian gas flows to Europe fell short of demand on Friday, coinciding with an early heatwave gripping its south and boosting benchmark prices already lifted by concerns the continent may struggle to build up storage in time for winter.
Read more »
Historic heat wave underway in Europe that will intensify into the weekendTemperatures have already surpassed 100 in Madrid. Similar temperatures are headed for Paris and Berlin over the next few days.
Read more »
Genesis, Hyundai and Kia to develop cars in Europe | AutocarMore Genesis, Hyundai and Kia models will be developed in Europe for Europe, according to Tyrone Johnson, who heads R&D in the region for the three brands - here's what it could mean for us
Read more »
Officials warn of extreme fire risk as Europe swelters in June heatwavePeople flock to parks and pools across Western Europe for a bit of respite from an early heat wave that saw the mercury rise above 40 C in France and Spain
Read more »
While Lower 48 airfares are still high, competition is pushing down the cost of flights from Anchorage to EuropeWhile Lower 48 airfares are still high, competition is pushing down the cost of flights from Anchorage to Europe, writes Alaska travel columnist Scott McMurren:
Read more »