Continental Europe gets more than a third of its total gas supplies from Gazprom, Russia''s state-backed monopoly pipeline supplier. It is a relationship that has developed over decades, but has more recently been poisoned by the fallout from Moscow''s 2014 annexation of Crimea from Ukraine. Story continues below.
Europe''s Energy Risks Go Beyond Gas. When Russia cut off a key flow of cheap natural gas this year following its invasion of Ukraine, many European countries were left scrambling for fuel as ...
Europe''s energy system faces an unprecedented crisis. Supplies of Russian gas—critical for heating, industrial processes, and power—have been cut by more than 80 percent this year. Wholesale prices of electricity and gas have surged as much as 15-fold since early 2021, with severe effects for households and businesses.
4 · France''s nuclear power giant EDF expects to recruit around 4,500 employees in permanent roles in the nuclear power industry in France in 2024 alone. But the French Nuclear Industry Association ...
It follows Russia''s invasion of Ukraine and the loss of Moscow''s cheap natural gas — an unprecedented shock to Germany''s energy-intensive industries, long the manufacturing powerhouse of Europe. The sudden underperformance by Europe''s largest economy has set off a wave of criticism, handwringing and debate about the way forward.
If Nord Stream remains shut throughout 2023, Europe''s energy deficit will widen, requiring even bigger cuts in consumption. Gavekal, a research firm, estimates …
Europe''s largest economy will have to reduce its consumption by 20% if it wants to avoid shortages this winter, according to expert modelling. "We still have a long way to go," Habeck warned.
The US overtook Russia as a supplier of gas to Europe in September 2022, and has since 2023 accounted for about a fifth of the region''s supply. But last month, Russian-piped gas and LNG ...
Europe''s energy crisis. The reasons behind Europe''s C are far from straightforward and illustrate how complex and interconnected the global energy market is. Here are five key points to help explain some …
In 2023, China''s electricity demand rose by 6.4%, driven by the services and industrial sectors. With the country''s economic growth expected to slow and become less reliant on heavy industry, the pace of Chinese electricity demand growth eases to 5.1% in 2024, 4.9% in 2025 and 4.7% in 2026 in our forecasts.
The Netherlands wants to close Europe''s largest gasfield this year because it is "very dangerous" to keep operating it, according to a government official. Hans Vijlbrief, state secretary ...
In the wake of Russia''s invasion of Ukraine and a surge in energy prices, natural gas demand in the European Union fell in 2022 by 55 bcm, or 13%, its steepest drop in history. The decline is the equivalent to the amount of gas needed to supply over 40 …
The problem that dominates the public discussion on energy is climate change. A climate crisis endangers the natural environment around us, our wellbeing today and the wellbeing of those …
The consulting group Rystad Energy has calculated that Europe has enough gas stored to survive this winter unless it gets very cold, while natural gas prices have fallen to their lowest levels ...
Europe''s largest gasfield, Groningen, in the Netherlands, was designed to be a significant swing supplier, with production boosted or suppressed to help balance supply with demand, allowing ...
By 2030, 43% of the EU ''s total energy consumption will have to come from renewables, according to the latest rules, up from 23% in 2022. Sending energy to places without surpluses would require ...
In OECD Europe, gas demand declined by close to 10% year-on-year in the period from January to August, falling by an estimated 15% in industry due to production cutbacks, according to the report. …
FRANKFURT, Germany (AP) — The German government said Europe''s largest economy was in "troubled waters" and slashed its growth forecast for this year as it struggles with a lack of skilled labor, excessive bureaucracy, high interest rates and lagging investment in new projects — while a relatively modest set of tax breaks for business ...
Europe''s energy crisis – precipitated both by the disruption to energy markets caused by the war in Ukraine and European sanctions on Russia – has upended many of the assumptions used in forecasts for the region''s transition to clean energy. Before the crisis, Europe had planned to raise carbon prices and introduce a border-adjustment ...
The biggest challenge for Europe''s largest economy will be growth constraints due to a workforce shortage, German Economy Minister Robert Habeck said on Wednesday after Berlin slashed its outlook ...
The European Union was the only major region where electricity demand declined substantially in 2022. Global electricity demand remained resilient last year, …
Because it shows that Europe has finally loosened the grip that Russia had over its energy sector. Europe has taken its energy destiny back into its own hands. Let us explain how. Cast your minds back to 2021, well before Russia''s invasion of Ukraine. Already then, Russia was failing to fill gas storages to their usual levels in advance of winter.
Gas demand is expected to fully recover in 2021 from its drop in 2020. Image: IEA. 2. Europe is reliant on gas imports. European gas production is in decline. Several North Sea gas deposits are running dry, as are a number of gas fields in the Netherlands, such as Groningen which is due to close in mid-2022.
Europe''s energy crisis is set to persist for years if the region fails to reduce demand and secure new gas supplies, according to fresh warnings from energy …
European power prices rose to fresh records on Thursday as a heatwave limits energy supplies and wildfires rage across France. The gains reflect a tight market …
Europe''s energy crisis is set to persist for years if the region fails to reduce demand and secure new gas supplies, according to fresh warnings from energy industry executives and analysts ...
Wholesale power prices in Germany, Europe''s biggest economy, have plunged from a peak of more than €800/ MW h in August to less than €200 this week. As a result, the feared economic meltdown ...
Lawmakers warned of fuel rationing and rolling blackouts, and winter loomed. Now Europe has plenty of gas, much of it from Norway, the shale fields of Texas, and Qatar. The price has tumbled...
And while lower energy use helps Europe weather the crisis sparked by Russia''s war in Ukraine and Moscow''s supply cuts, executives, economists and industry groups warn its industrial base may end ...
Stanley Reed, in London, and Melissa Eddy, in Berlin, have covered Europe''s energy crisis over the past year. Feb. 24, 2023. Within months of Russia''s invasion of Ukraine last year, there was ...