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Economy

Energy price surge risks pushing EU economy into stagflation

Natural gas and crude oil prices have surged recently amid rising demands and the US's wider sanctions on Russia. Elevated energy prices could jeopardise the eurozone's inflation outlook and push the regional economy into stagflation.

Europe News

Commission insists EU faces no gas squeeze as winter bites

A week after Russian gas stopped flowing through Ukraine, the European Commission maintains there is no threat to security of supply despite data showing a steep drop in reserves as temperatures fall across much of the bloc.

Europe News

Putin open to accepting Slovakia as 'neutral site' for Ukraine talks

The Russian president's comments follow Slovak Prime Minister Robert Fico's controversial Moscow visit, seen as a challenge to EU unity against Russia's invasion of Ukraine.

Business

Trump threatens trade tariffs unless Europe buys more US oil and gas

US president-elect keeps the prospect of a transatlantic trade war in the air, exactly a month before he is due to walk back into the White House.

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Markets

Natural gas prices at highest for two years on cold weather concerns

Natural gas prices rose to a near two-year high amid concerns of a cold-blast winter in the northern hemisphere. Signs of a US lower supply, as indicated by EIA data, further fuelled the price surge.

Nature

Italy’s UNESCO-designated Po Delta saved from offshore gas drilling

Offshoring drilling threatened to submerge parts of the delta, which is already bracing against a barrage of problematic, climate change-induced conditions.

Markets

Winter is coming: Volatile energy prices set to return in Europe

Rising natural gas prices and increasing uncertainty are set to dominate Europe's energy outlook for the coming winter.

Economy

Why have European natural gas prices soared to over 1-year highs?

European natural gas prices hit €46/MWh in November, spiking 16% on the month due to a cold snap, reduced wind output, and Russia-Ukraine tensions. LNG supply delays and high heating demand intensify risks, with analysts raising 2025 TTF forecasts amid tightening markets.

Business

UAE opens summit as energy industry weathers Middle East concerns

The United Arab Emirates (UAE) as a whole is planning to increase its production capacity of oil to 5 million barrels a day in the coming years.

Climate

Gas cookers are killing 40,000 Europeans a year, scientists warn

It is the first time that researchers have been able to accurately estimate premature deaths from gas cooker pollution.

Europe News

ExxonMobil sues Dutch government over gas field closure

US petroleum giant ExxonMobil has invoked the controversial Energy Charter Treaty in a potential multi-billion euro compensation claim – an apparent bid to pressure the Netherlands’ new right-wing government over the shuttering of Europe’s largest gas field in Groningen.

Green News

UK becomes first G7 country to phase out coal: Where else has done it?

The country’s final coal-fired power station was desynced from the grid on 30 September, bringing an end to 142 years of burning coal for electricity.

Greece

New LNG system opens in Greece aiming to reduce reliance on Russia

The new project, funded in part by the European Commission aims to reduce southeastern Europe's dependence on Russian gas.

Business

ING pledges to stop financing new upstream oil and gas projects

ING says it would no longer be offering finance to pure-play oil and gas companies for explorations or developments in new fields, as part of its move to help support the transition to green energy.

Green News

Renewables generate half of EU electricity in first six months of 2024

Energy Commissioner Kadri Simson said the EU is now “well equipped” to meet climate neutrality goals.

Europe News

EU still hesitant to sanction Russian gas as imports continue

The annual State of the EU Energy Union report shows Europe still relies on Russia for nearly a fifth of its gas imports, while the EU executive is concerned at the slow pace of the transition away from fossil fuels.

Business

Could Britain's soaring taxes push energy companies to Norway?

UK taxes on oil and gas profits have risen from 40% to about 78% in the past three years, prompting several energy companies to think about pulling out of the country.

Green News

EU executive rejects auditors' call for ‘reality check’ on hydrogen

The European Court of auditors claims European Commission targets to deploy 'green' hydrogen to meet emissions targets are unrealistic, but the executive remains bullish.

Climate

Euroviews. The Baltic-Finnish gas market can and must be decarbonised

There is a feasible path to decarbonise the gas sectors of the Baltic states and Finland by 2050 or earlier. The choice is stark: invest now to reshape the energy landscape or pay later in severe environmental and geopolitical costs, Gowtham Muthukumaran and Javad Keypour write.

Green News

Auditors warn of LNG dependency after Russian sources cut off

EU auditors are concerned with a new energy dependency and flagged decarbonisation challenges linked to the bloc’s gas usage as well as lack of transparency in cross-border infrastructure projects within the bloc.

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