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Economy
European gas prices keep climbing as IEA calls for emergency reserves
With European gas prices hitting the highest since early 2023, the International Energy Agency says governments should consider strategic reserves, more flexible contracts and closer international cooperation to prepare for future natural gas shortages.
Economy
Germany risks missing gas storage target, threatening industry output
Germany will miss its November gas-storage target if injections continue at their current pace, the country’s storage association has warned. Although there is no immediate gas shortage, low storage levels combined with a very cold winter could threaten industrial production in the country.
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Economy
Europe’s gas prices are surging. Who will be the first to pay more?
Europe could face its toughest winter gas season since 2022 as wholesale prices trade near their highest level in more than three years. Household bills could rise quickly in the Netherlands while taking nearly a year to fully adjust in Germany and Austria.
Europe News
Europe faces race to refill gas storage as LNG cargoes flow to Asia
After spending much of the past two years rebuilding its gas security following the loss of Russian pipeline supplies, Europe is again facing high natural gas prices due to volatility in global markets linked to disruptions in the Strait of Hormuz.
Europe News
Germany warns EU electricity tax plan threatens national sovereignty
Germany accuses the European Commission of using an electricity market law to sidestep EU tax rules and national sovereignty. The dispute could affect the pace of the bloc’s electrification drive and efforts to reduce its reliance on imported fossil fuels.
Turkey
Iraq wants to supply 1m oil barrels a day to Turkey amid Hormuz crisis
Iraqi Prime Minister Ali Zeydi visited Ankara for his first talks with Erdoğan since taking office, offering to supply Turkey with 1 million barrels of oil per day as Ankara seeks to reduce its dependence on disrupted Gulf routes.
Europe News
Brussels to double electrification target to cut fuel consumption
After months of speculation, the European Commission announced a 46 percent electrification target for the bloc's economy by 2040. The move is intended to cut dependencies on imported fossil fuels but critics argue that high electricity prices may complicate the EU's goals.
Qatar
13 killed, dozens injured in Qatar's Ras Laffan energy site explosion
Qatar Energy announced on Monday afternoon that a massive accidental explosion and blaze at the country’s main energy site at Ras Laffan the night before killed 13 people and injured 66, as workers tried to resume operations. Qatar says its LNG exports are not affected.
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