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Europe's long-term gas contract disputes
European energy companies faced with falling profits are turning up the pressure on long-term suppliers such as Russia and Qatar to amend long-term, oil-indexed sales of gas. Recession and market liberalisation measures by the European Commission have caused oil and gas prices to diverge, costing utilities billions. Disputes, re-negotiations and arbitration have led producers to temporarily grant discounts on gas supplies. Some have lowered prices and others have linked supplies to prices at Europe's freely traded spot gas trading hubs. Some utilities also want greater flexibility by being able to reduce supplies beyond minimum contracted levels during times of low demand. Many negotiations are still under way.
read more... 31/10/2012
Turkey could become a major energy hub
Turkey is on the verge to overpass UK as Europe’s third largest electricity consumer in ten years and could become a major energy hub, due to its booming population and economy, as well as a favorable geographical position close to 71.8 % of the world’s proven gas and 72.7 % of oil reserves, in particular those in the Middle East and Caspian basin.
read more... 12/07/2012
UK’s North Sea could become a green energy hub
UK’s North Sea has all the chances to become a world leader in offshore wind and carbon capture and storage technology, declared the British Prime Minister David Cameron during a speech at the Clean Energy Ministerial summit in London co-hosted by Britain and the US.
read more... 27/04/2012
Greece could become Europe’s solar energy hub
Greece, the European country which has been the worst hit by the euro zone crisis, is planning to struggle against its debt deficit by diversifying one of its most valuable assets - solar energy.
read more... 10/04/2012
EU ban on Iranian oil
EU foreign ministers decided on 23 January 2012 to ban new contracts to import petroleum and petroleum products from Iran and to end existing contracts by 1 July 2012. On 17 March 2012, the SWIFT electronic banking network, the world hub of electronic financial transactions, ordered to disconnect all Iranian banks from its international network that had been identified as institutions in breach of current EU sanctions.
read more... 20/03/2012