Turkey resumes gas exploration in the eastern Mediterranean | Energy News

Nearly two years after Turkey halted offshore gas explorations in contested waters in the eastern Mediterranean, a Turkish drillship has departed from the port of Mersin to search for gas in the region. The Abdullhamid Han drillship set sail on Tuesday with the blessing of President Recep Tayyip Erdogan, who said that the ship would … Read more

Growing popularity could be undone by one accident

21 July 2022, Bavaria, Essenbach: Water vapor rises behind sunflowers from the cooling system of the nuclear power plant (NPP) Isar 2. Picture Alliance | Picture Alliance | Getty Images Nuclear energy is at an inflection point. Early exuberance about its potential was undercut by a series of devastating and dangerous accidents: Three Mile Island … Read more

Germany’s Scholz says Russia has no reason to hold up turbine return

Turbine caught in energy standoff between West, Russia Scholz visits Siemens Energy factory where turbines are stored Says turbine ready to be sent back to Russia Kremlin: turbine documentation still lacking Kremlin: Nord Stream 2 could supply gas this year MUELHEIM AN DER RUHR, Germany, Aug 3 (Reuters) – German Chancellor Olaf Scholz on Wednesday … Read more

Why US gas can’t solve Europe’s energy crisis | Business | Economy and finance news from a German perspective | DW

As Europe weans itself off Russian energy as punishment for Moscow’s invasion of Ukraine, the continent’s demand for liquefied natural gas (LNG) has soared to unprecedented levels. The US is now the world’s largest exporter of natural gas, yet political, economic and technical limits prevent the country from being its full-on savior. While the industry … Read more

Russia faces ‘economic oblivion’ despite short-term resilience

Russian President Vladimir Putin attends a meeting with parliamentary leaders in Moscow, Russia July 7, 2022. Aleksey Nikolsky | Sputnik | Reuters Russia is facing “economic oblivion” in the long-term because of international sanctions and the flight of businesses, several economists have said. The International Monetary Fund last week upgraded Russia’s gross domestic product estimate … Read more

‘Drill, baby, drill’ is back in Europe as the gas crisis looms

But after the Dutch and German governments approved the development of a new gas field roughly 12 miles from Schiermonnikoog’s shores, the island’s mayor is anxious about its future. “We are very concerned that the gas drilling will damage the area,” Mayor Ineke van Gent told CNN Business. “We also believe that there is no … Read more

Russia gas cuts stoke Asia’s energy security fears | Energy

Taipei, Taiwan – The latest cut in Russian natural gas flows to Europe threatens to further destabilize energy security in Asia and could accelerate a move away from liquefied natural gas (LNG) in the region, experts say. On Wednesday, Russia’s state-run energy giant Gazprom cut gas supplies to Europe via Nord Stream 1 to just … Read more

Russia cuts gas flows further as Europe makes savings plea

Pipes at the landfall facilities of the Nord Stream 1 gas pipeline are pictured in Lubmin, Germany, March 8, 2022. REUTERS/Hannibal Hanschke/ Register now for FREE unlimited access to Reuters.com Register BERLIN/FRANKFURT, July 27 (Reuters) – Russia delivered less gas to Europe on Wednesday in a further escalation of an energy stand-off between Moscow and … Read more

Putin’s new gas squeeze condemns Europe to recession and winter of rationing

Europe has previously received around 45% of its annual gas supplies from Russia. Leonhard Foeger | Reuters Europe’s descent into an economic contraction looks to have been confirmed with Russia squeezing natural gas supplies to the bloc and heavy industry facing tough rationing in the coming months. Just days after Europeans breathed a sigh of … Read more

Europe dials down its plans to ration gas this winter

On Tuesday, EU energy ministers agreed to a voluntary target to reduce gas usage by 15% between August and March 2023. That reduction is measured against each country’s average gas consumption during the same months over the previous five years. The EU Commission first unveiled the 15% target in its “Save Gas for a Safe … Read more