EU: Turkey's Drilling off Cyprus Coast of "Grave Concern"
The European Union on Monday said Turkey's plan to drill for oil and gas off Cyprus was of grave concern and an unacceptable escalation of tensions surrounding the Mediterranean island."Turkey's declared intention to illegally conduct a new drilling operation northeast of Cyprus is of grave concern," the EU foreign policy branch said in a statement."This second planned drilling operation, two months after the start of the ongoing drilling operations west of Cyprus, is a further unacceptable escalation which violates the sovereignty of Cyprus." (Reporting by Alissa de Carbonnel)
EU: New Rules Apply to Nord Stream 2
The European Union executive on Thursday said its stance on Nord Stream 2 is law and will not change, despite receiving letter from the gas pipeline threatening legal action if it is not exempt from new energy rules.The bloc amended its energy rules to ensure they would apply to the 11 billion euro ($12 billion) project to build a gas pipeline from Russia to Germany that has come under fire from the United States and several EU nations, who fear it will increase reliance on Russia.The changes cast doubt over the pipeline's business plan, to be both owned and operated by Russian gas export mono
EU Lawmakers Set Energy Efficiency, Renewables Targets
European Union lawmakers on Tuesday targeted energy savings of 32.5 percent and a renewable energy uplift of 32 percent by 2030, in a push to meet the bloc's pledge under the Paris climate accord to curb global warming.National governments now have until the end of the year to draft their own plans for implementing the bloc's overall climate goal of lowering greenhouse gas emissions by at least 40 percent from 1990 levels by 2030, in line with the Paris Agreement.However, the…
Germany to Build LNG Terminal in 'Gesture to U.S.'
Germany will chose a city to host a new liquefied natural gas (LNG) terminal by year end's in what its economy minister on Tuesday called "gesture" to the United States, which wants to increase gas exports to Europe."This is a gesture to our American friends," Peter Altmaier said after a meeting with the EU's energy chief in Brussels.
EU Aims to Block U.S. Sanctions on Iran
The European Union vowed on Monday to counter U.S. President Donald Trump's renewal of sanctions on Iran, in a test of the EU's ability to preserve a deal that saw Iran limit its nuclear ambitions in exchange for removing strict curbs on its economy.As Washington's so-called "snapback" sanctions are reinstated on Tuesday, a new EU law to shield European companies will also take effect to try to mitigate what EU officials say is their "unlawful" reach beyond U.S. borders.Despite protests from European allies, U.S. Secretary of State Mike Pompeo said Washington would fully enforce the sanctions.
Trump Bets on New European LNG Terminals
U.S. President Donald Trump expects the European Union to fund 9 to 11 liquefied natural gas (LNG) ports to absorb "vastly" more shipments from the United States but current EU investment in new projects will only help open small markets.In a White House press conference with Italian Prime Minister Giuseppe Conte late on Monday, Trump said part of the U.S.-EU trade talks sought to expand America's reach into the continent's gas markets which were awash in Russian supply."And we are already talking to the European Union about building anywhere from 9 to 11 ports…
EU Agrees Final Energy Saving, Renewables Targets
The European Union on Wednesday finalized new climate rules after months of talks, targeting a total energy saving of 32.5 percent and an uplift in the share of renewable energy to 32 percent by 2030.National governments must now draft their own plans for implementing the bloc's overall climate goal of lowering greenhouse gas emissions by at least 40 percent below 1990 levels by 2030 in line with the Paris Agreement.Talks have dragged on for months to reach a compromise between…
Naftogaz says Gazprom Must Be Part of new Russia
The head of Ukraine's Naftogaz on Thursday said EU-mediated talks over future Russian gas transits via the country to Europe must include Gazprom and must be based on firm commitments."For the success of the talks, it is important to have Gazprom in the room," Naftogaz chief Andriy Kobolev told Reuters. "I am struggling to understand what outcome we are trying to achieve because ... from what I know they are not ready to give any commitment."Reporting by Alissa de Carbonnel
EIB Approves $1.85 Bln Loan to TAP Gas Pipline
The European Investment Bank on Tuesday approved a 1.5 billion euro ($1.85bln) loan for the Trans-Adriatic Pipeline (TAP) to bring new gas supplies to Europe and reduce dependence on Russia, a spokesman for the EIB told Reuters. TAP, the end piece of the $40 billion Southern Gas Corridor, is slated to bring up to 10 billion cubic metres of gas from the giant Azeri Shah Deniz II field to Italy by 2020, crossing Georgia, Turkey, Greece, Albania and the Adriatic Sea. Shah Deniz 2 is one of the world's largest gas fields and is developed by a BP-led consortium.
$500 Mln Loan Approved for TANAP Gas Pipeline Project
The board of the European Bank for Reconstruction and Development (EBRD) has approved a $500 million loan for the Trans-Anatolian Natural Gas Pipeline (TANAP), the largest part of a $40 billion project to bring new gas supplies to Europe. The so-called Southern Gas Corridor is expected to bring around 16 billion cubic metres per year to Europe by 2020 from the Shah Deniz 2 field in Azerbaijan via TANAP through Turkey, the South Caucasus pipeline extension through Georgia and the Trans-Adriatic Pipeline (TAP) to Greece, Albania and Italy.
EU Lawmakers to Guard Carbon Market from Hard Brexit
European lawmakers will vote this week on a plan to protect the carbon market against a collapse of Brexit talks, which they fear would crash the price of tradeable emissions permits. The bill was prompted by mounting concern that Britain could fail to reach at least a transitional trade deal with the European Union before its scheduled departure from the bloc less than two years from now. Britain is the second-largest emitter of greenhouse gases in Europe and its utilities are among the largest buyers of permits in the EU's Emission Trading System (ETS)…
EU Divided On New US Sanctions against Russia
European Commission preparations to retaliate against proposed new U.S. sanctions on Russia that could affect European firms are likely to face resistance within a bloc divided on how to deal with Moscow, diplomats, officials and experts say. A bill agreed by U.S. Senate and House leaders foresees fines for companies aiding Russia to build energy export pipelines. EU firms involved in Nord Stream 2, a 9.5 billion euro ($11.1 billion) project to carry Russian gas across the Baltic, are likely to be affected.
Trump to Promote US Natgas Exports in Russia's Backyard
President Donald Trump will use fast-growing supplies of U.S. natural gas as a political tool when he meets in Warsaw on Thursday with leaders of a dozen countries that are captive to Russia for their energy needs. In recent years, Moscow has cut off gas shipments during pricing disputes with neighboring countries in winter months. Exports from the United States would help reduce their dependence on Russia. Trump will tell the group that Washington wants to help allies by making it as easy as possible for U.S.
Wind Power's Big Bet: Colossal Turbines
Wind farm operators are betting on a new generation of colossal turbines, which will dwarf many skyscrapers, as they seek to remain profitable after European countries phase out subsidies that have defined the green industry since the 1990s. The world's three leading offshore wind operators - DONG Energy, EnBW and Vattenfall - all told Reuters they were looking to these megaturbines to help adapt to the upcoming reality with dwindling government handouts. According to interviews with turbine makers and engineers…
EU Nations Back Plan for Talks with Russia Over Pipeline
Thirteen EU nations voiced support on Monday for a proposal to empower the bloc's executive to negotiate with Russia over objections to a new Russian gas pipeline to Germany, despite opposition from Berlin. At an informal debate among EU energy ministers, Germany's partners in the 28-nation bloc spoke out against Russia's Nord Stream 2 pipeline plan to pump more gas directly from Russia's Baltic coast to Germany. EU nations are expected to vote in the autumn on the European Commission's request for a mandate to negotiate with Russia on behalf of the bloc as a whole.
Gazprom Partners Agree on Nord Stream 2 Financing
Western partners of Russian gas giant Gazprom agreed on Monday on financing the 9.5-billion euro Nord Stream 2 pipeline, removing a key hurdle for the Russian plan to pump more gas to Europe. At a signing ceremony in Paris, Uniper, Wintershall, Shell, OMV and Engie agreed to each loan 10 percent of the cost of the venture, or 950 million euros each. Gazprom will shoulder 50 percent of the 55 billion cubic meter pipeline to start operations in 2019. Gazprom's CEO Alexei Miller touted the agreement as a "a symbol" of Western backing for the project…
EU Seeks to Negotiate over Nord Stream Pipeline
Pipeline to pass through Danish, Swedish waters; project will bypass major gas transit route Ukraine. The European Union is seeking a mandate from its members to negotiate with Russia over plans for a gas pipeline under the Baltic Sea to Germany, an EU document showed, as some EU states fret the project will make Europe too reliant on Russian energy. The Nord Stream 2 pipeline would pass through Danish and Swedish waters and bypass Ukraine, a nation suffering from conflict and the main transit route for Russian gas heading to the EU.
EU Lawmakers Reject Call for Ban on Arctic Oil Exploration
The European Parliament rejected a call to ban Arctic oil and gas exploration on Thursday, in a symbolic vote seen as a barometer for future moves by Brussels to regulate to protect the region. Lawmakers who back the ban, which had drawn the ire of Norway, say the European Union needs a strategy for future developments in a region being transformed by climate change. Lawmakers voted 414-180 to reject the non-binding motion calling for the European Commission and member states to work with international forums towards "a future total ban on the extraction of Arctic oil and gas".
Nord Stream 2 not a Common Interest Project - EU
The Nord Stream 2 gas pipeline which aims to bring Russian gas to Germany under the Baltic Sea is not a "project of common interest" to the EU, the European Union's competition commissioner said on Monday. "On the legal side of things, it has become very clear that the Commission does not find that the Nord Stream 2 project will be a project of common interest," EU Competition Commissioner Margrethe Vestager told a news conference in Brussels. She was repeating the Commission's…
Gazprom eyes Rival TAP Pipeline
TAP aims to reduce EU dependence on Russian gas, but Gazprom could gain access via open auction. Gazprom's bid to tap into a pipeline meant to wean Europe off Russian gas threatens to undermine a pillar of European energy policy and slow plans to develop rival deposits in the east Mediterranean. As the European Union struggles against the "iron embrace" of Russian pipelines, it has made opening a new Southern Gas Corridor to carry gas from Azerbaijan by 2020 a priority. The 10 billion cubic metre (bcm)-capacity Trans Adriatic Pipeline (TAP) is the project's end piece…
