By Javier Blas It is a chain of energy dominoes that are falling in a wave – a chain in which each tile is worth many billions of euros. A bankrupt utility here, a country’s energy reserves there. When the dust settles, the total bill for bailing out the European energy market this winter will […]
Tag: Europe
Gazprom moves east as relations with Europe sour – Record supply to China
Gazprom delivered a record daily amount of natural gas to China on Sunday, while supplies to European customers remained at multi-year lows, according to Bloomberg. The increase in exports to Asia is not a reaction to Moscow’s worsening relations with the West, but a sign of a long-term readjustment of energy flows that could accelerate […]
IEA to Europe: Cut demand for natural gas immediately and drastically, otherwise… ‘electric shock’ in winter
Europe must drastically cut gas consumption in the coming months to prepare for what is likely to be “a long, hard winter,” the head of the International Energy Agency (IEA) said, as reported by Bloomberg. While the European Union has made some progress in diversifying its supplies from third-party suppliers, moving away from its main […]
The ‘uphill’ is pulled again by natural gas, due to… heat
Natural gas prices in Europe are soaring along with a heat wave plaguing the western part of the continent, as the latter increases demand for air conditioning and pushes energy costs higher. Temperatures in parts of the UK and France could reach record highs on Monday and Tuesday, Maxar forecast. Germany generated record amounts of […]
Big fluctuations in natural gas, due to… heat
Natural gas prices in Europe soared temporarily on Monday morning above 164 euros, with a heat wave plaguing the western part of the continent as the latter increases demand for air conditioning and pushes energy costs higher, to recede. then close to 156 euros. Temperatures in parts of the UK and France could reach record […]
Bloomberg: Europe can’t shake off Covid as strain fuels summer outbreak
It was supposed to be a post-Covid-19 summer in Europe, Bloomberg notes. The masks are gone in most places and the holiday season is in full swing as workers rush to the beaches and cities they missed in the two years marked by the pandemic. Instead, however, the reality people face is that the virus […]
Extreme temperatures and forest fires in western Europe
Firefighters and volunteers are battling the blaze in France and the Iberian Peninsula, where temperatures remain sweltering while, further north, Britain has been put on red alert ahead of a heat wave expected early in the week, with the mercury climbing to 40 degrees. This heatwave is the second in a month for western Europe. […]
Ineos: Europe will need gas vouchers if Nord Stream remains closed
Europe will need to issue natural gas vouchers to cover winter heating demand if the Nord Stream pipeline is not reopened after maintenance work ends, according to Bloomberg citing Ineos Group. “The picture looks pretty bad for this winter in terms of whether we’re going to hit the targets we need for storage,” Brian Gilvary, […]
Mixed signs in European markets in the shadow of inflation
The main European stock markets are moving with mixed signs on Thursday, with investors waiting for the European Commission’s new forecasts for the Eurozone economy, while also trying to digest the data on the jump in inflation in the US announced yesterday. European shares closed lower on Wednesday as investors reacted to a higher-than-expected rise […]
Fall in European markets in the shadow of inflation
LAST UPDATE: 11:03 The main European stock markets moved lower on Thursday, with investors waiting for the European Commission’s new forecasts for the economy of the Eurozone, while trying to digest the data on the jump in US inflation announced yesterday. European shares closed lower on Wednesday as investors reacted to a higher-than-expected rise in […]