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EU executive plans energy price relief for struggling industries

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Economy

Iran war: How exposed are European economies?

The closure of the Strait of Hormuz has sent gas prices surging by 60%, putting additional strain on Europe's already-depleted winter inventories and prompting economists to revise their 2026 growth and inflation outlooks.

Qatar

QatarEnergy declares force majeure as attacks halt gas production

As Doha intercepts further attacks from Tehran, authorities have also arrested 10 individuals suspected of being sleeper cells linked to Iran's Revolutionary Guard.

Europe News

Iran war revives spectre of energy crisis in Europe

The European Union is staring down the prospect of a new energy crisis as the United States and Israel wage war on Iran, rattling gas markets.

Europe News

What are Europe's oil route alternatives to the Strait of Hormuz?

Many European countries like Italy, Greece, Spain, Poland and Belgium rely on the Strait of Hormuz for imports or refining. Experts say the closure of this corridor will not cut off Europe’s oil supply, but will continue to drive up oil prices and disrupt markets.

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Europe News

EU praises Azerbaijani gas as Qatar suspends LNG production

Energy Commissioner Dan Jørgensen said Azerbaijan's gas supplies will remain an important backbone of the EU's energy security as the bloc deals with a new energy crisis following the suspension of LNG shipments from Qatar and the closure of the Strait of Hormuz.

Europe Today

Plenković defends EU’s ‘clear, unified’ Iran stance as rifts emerge

Croatia Prime Minister Andrej Plenković told Europe Today that his country stands ready to assist neighbouring member states who might be impacted by higher energy costs due to the events unfolding in the Middle East.

Europe News

Hungary’s energy giant threatens legal action against Croatia

The warnings from Hungary's MOL Group come amid heightened tensions between Budapest and the European Union. The dispute intensified after Hungary blocked the EU’s €90 billion financial package for Ukraine.

World News

Germany supplies Ukraine with natural gas for the first time

Germany is now supplying natural gas to Ukraine via an LNG terminal in the island of Rügen. The move was announced by the Ukrainian energy company Naftogaz.

Europe News

Italy calls for suspension of EU carbon market

The Italian Minister said the Emissions Trading System (ETS) has a "perverse effect" and is condemning European companies from being competitive with other countries, urging other member states to back the suspension.

Economy

Four years since Russia’s invasion: How have energy prices changed?

Residential electricity and gas prices in the EU remain above the levels seen before Russia’s invasion of Ukraine. Compared to the highly volatile years of the energy crisis, prices have largely stabilised as of 2026.

Europe News

US energy leader slams IEA's net zero agenda

US Energy Secretary Chris Wright said the International Energy Agency should focus on energy security and abandon net zero ideas, but EU leaders have backed the Paris-based agency as a "trusted pillar" of the global energy community.

Europe News

Europe needs to scale up energy commercialisation, IEA says

A new report from the International Energy Agency says that while Europe pioneered the technologies of the future, it risks becoming a research hub for global competitors without systemic industrial scaling.

Europe News

EU prepares to confront its electricity price conundrum

EU leaders will discuss options to reduce electricity prices at a March summit. Among them are decoupling electricity from gas prices and addressing the emergence of negative energy prices, which make producers pay consumers for the power they use.

Green News

Azerbaijan urges action on Caspian Sea climate crisis

Azerbaijan has highlighted rising environmental threats to the Caspian Sea as UN introduces cross-border environmental assessments.

Europe News

'EU energy infrastructure as vulnerable as defence,' industry warns

Industry bosses warn Europe's energy infrastructure is as vulnerable as the continent's security after a series of attacks and sabotage to networks.

Business

Greece bets on LNG corridor to power Europe’s post-Russia energy

Once overlooked, the region around Alexandroupolis is now at the centre of plans to secure gas supplies and reshape the EU’s energy map.

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