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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
Italian Eni revises shale gas prospects in Ukraine
The Italian energy company Eni has revised the shale natural gas potential in Ukraine amid discussions with the country’s prime minister in Kiev.
read more... 30/10/2012
China’s natural gas consumption to rise to 230 bcm by 2015
The National Development and Reform Commission released new data according to which natural gas consumption in China will reach 230 billion cubic meters in 2015, as the Asian country has approved the natural gas development plan for the current 12th five year economic plan for 2015.
read more... 29/10/2012
UK is the European leader in terms of carbon emissions cuts in 2011
The United Kingdom reduced its greenhouse gas emissions by more than any other European country last year, exceeding its Kyoto target, mainly due to milder weather, alongside increased renewable energy generation, as well as due to the stagnant economy.
read more... 29/10/2012
UK government offers new 167 oil and gas exploration licenses in North Sea
The UK Department of Energy and Climate Change (DECC) has offered 167 new oil and gas licenses to companies under the 27 Licensing Round, following a record level of interest by oil companies.
read more... 26/10/2012