Shiploads of Natural Gas Waiting at Sea
The backup has been caused in part by current market forces and in part by Europe’s scramble to replace natural gas piped in from Russia with natural gas from other sources, primarily shipped LNG.
The backup has been caused in part by current market forces and in part by Europe’s scramble to replace natural gas piped in from Russia with natural gas from other sources, primarily shipped LNG.
The pipeline component manufacturer Uhlig in Germany is facing insolvency due to exorbitant gas prices, which might delay the completion of the LNG terminals currently under construction.
A fire in one of America’s largest LNG export terminals has caused European gas prices to rise even further. The reduced export capacity adds to the pressure of securing enough gas reserves to last the winter.
Birol warned that governments had not taken sufficient steps to prepare for a complete cut off from Russian natural gas supplies.
Sometimes climate-focused policies do not meet with overwhelming approval in EU parliament, and their adoption can be hit or miss.
The Spanish government has avoided providing details about future projects, except that they will be in the areas of ecological transition, digital transition, hydrogen storage, industrial autonomy, and infrastructure.
News of the Norwegian production increase is expected to cool off the price hike that followed proposals for new European sanctions against Russia.
The Orbán cabinet has put in place the means for Hungary to be independent from Russian natural gas. In the course of 12 years, it built links to all possible alternative energy sources; the fact that a number of them are inoperable is due to other countries.
The development marks a new low in rapidly deteriorating relations between Russia and the collective West.
After failing to achieve independence from Russian gas in the short term, German Minister of Economy Robert Habeck blocked the sale of the German subsidiary of Russian energy company Gazprom, and put it under state controlled trusteeship to ensure security of supply.
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