The war against Ukraine has changed the world’s energy priorities; coal use will reach a new high due to the gas crisis. According to the IEA, in 2024 the world’s coal use will reach a new high of 8.7 billion tons and remain at a high level for several years. The cause is the Russian-Ukrainian war, which has led t... #China #Coal #EnergyCrisis #IEA #RenewableEnergy
The war in Ukraine will force Europe into a new energy crisis. The war in Ukraine has contributed to a rise in gas prices by about 45% this year. Bloomberg writes that although the price level is still below 2022’s record levels, it is high enough to strain... #EnergyCrisis #gasprices #gasstorage #GasTransit #RussianGas
Resulting from Russian attacks on Ukraine, electricity prices in Eastern Europe have increased by 100%. Russia’s strikes on Ukrainian infrastructure caused electricity prices to double this summer in southeastern Europe. According to the FT, in a letter to the European Commission Greek Prime Minis... #Electricityprices #EnergyCrisis #energyEU #EnergyInfrastructure #KyriakosMitsotakis
Sitting on two chairs: The US criticizes Ukraine’s strikes on Russian refineries over fear of rising global fuel prices. US Defense Minister Lloyd Austin criticized Ukrainian strikes on oil refineries in Russia. He stated that these strikes could negatively affect the availability of energy resources globally. “It... #EnergyCrisis #GlobalEconomy #GlobalFuelPrices #LloydAustin #OilRefineryRussia #RussianOil #WarinUkraine
The energy gap between Europe and Russia is growing. Qatar has signed its third gas supply contract with the EU, and Kazakhstan is negotiating a new oil route. After TotalEnergies and Shell agreed to buy LNG from Qatar, Italian energy company Eni agreed to a 27-year contract with QatarEnergy. The agreement is for one million tons of liquefied gas per year, w... #AdriaPipeline #EnergyCrisis #KazakhstanOil #LNG #QatarEnergy #qatarpetrolium
Norway is resuming development of Arctic oil and gas fields to become a key energy supplier to the EU. Norway’s largest oil and gas companies plan to continue exploring new oil and gas fields this year to stabilize the energy crises created by Russian aggression against Ukraine. This guarantees t... #EnergyCrisis #NorwayGas #NorwayOil #OilProduction
The war in Ukraine has cost the German economy $100B. The German Institute for Economic Research (DIW) estimated that Russia’s full-scale invasion of Ukraine and the resulting rise in energy prices has cost the German economy about $100B, or 2.5% o... #EnergyCrisis #GDPgermany #GermanEconomy
The energy crisis triggered by Russia has cost Europe €800B. The costs incurred by European countries to help households and companies due to the sharp increase in energy prices have increased to almost €800B, according to data from the Bruegel analytical cente... #EnergyCrisis #EUenergyPrices
EU gas prices has fallen to autumn 2021 levels. Spot gas prices in Europe on January 16 fell by almost 10% to $635 per thousand cubic meters, which is equal to the level from September 2021. Since the beginning of the year, prices have fallen by 22... #EnergyCrisis #EUgasPrices
Warm weather has caused gas prices to plunge in Europe to below pre-war levels. Gas prices in Europe have fallen below the level observed before Russia’s war in Ukraine. The price at the TTF hub in the Netherlands fell by another 10% on December 23 to €83/MWh (about $920 pe... #EnergyCrisis #EUgasPrices #EUgasReserves
A $1T energy bill for the EU is only the beginning of the crisis. Europe has been hit by roughly $1T in surging energy costs resulting from the fallout of Russia’s war in Ukraine, and the most profound crisis in decades is only getting started. After this winter, ... #EnergyCrisis #LNGforEU
The gas price ceiling will help to replenish storage before next winter. The compromise reached between the energy ministers from the EU countries regarding the introduction of the gas prices ceiling is a clear signal that the EU will not buy natural gas at a price higher ... #EnergyCrisis #GasPriceCap #KadriSimson
Experts have discussed Ukraine and the EU’s energy future in Vienna. On October 14, Vienna hosted the 13th European-Ukrainian Energy Day, an annual conference organized by the European-Ukrainian Energy Agency (EUEA). The theme of this year’s event was New energy... #EnergyCrisis #EUEDconference #MechtildVersderfer
Germany is preparing to stop the Russian Federation’s oil supply. Russia can stop supplying oil to two German plants through the Druzhba pipeline, German Chancellor Olaf Scholz said in an interview with the Deutschlandfunk. He recalled that the country has already f... #EnergyCrisis #OlafScholz #RussianOilExport
Canada will deliver five more Nord Stream turbines to Germany. Canada has decided to transfer five more Siemens turbines, currently under sanction, to Germany for the Nord Stream gas pipeline so that the President of the Russian Federation does not have an excuse... #CanadaGermany #EnergyCrisis #NordStream
Norway has become the leading gas supplier to Europe. According to Business Insider, Norway has overtaken Russia in the volume of natural gas supplies to EU countries against the backdrop of the aggressor’s reduction in its supplies. The country pl... #EnergyCrisis #NorwayGas
Expensive electricity causes the factory closures in Europe. The increase in the price of electricity in the EU is forcing owners of the most energy-intensive industries to close their facilities. Nyrstar has announced that it will shut down its Budel zinc plan... #Electricityprices #EnergyCrisis #factoryclosures
The UN calls for increase taxation of oil and gas companies due to excess profits. UN Secretary-General Antonio Guterres has criticized oil and gas companies for profiting from an energy crisis caused partly by the war in Ukraine. The statement was made against the background of th... #AntonioGuterres #EnergyCrisis #oilandgascompaniessurplusprofits #oilandgascompaniestaxation
The US fears that without controls on the price of oil, it will increase by 40%. The global oil price could rise by 40% to around $140 per barrel if the proposed cap on the price of Russian oil is not passed, said the US Treasury Department. US Treasury Secretary Janet Yellen wil... #EnergyCrisis #GlobalOilPrices #JanetYellen #OilPrices
