The state-owned Russian energy giant Gazprom reported a net loss of 629 billion rubles (nearly $6.9 billion) in 2023, the company's largest profit downturn in decades amidst falling gas prices and a limited European market.
Italy has overcome its dependence on Russian gas and will not oppose the proposed package of EU sanctions on liquified natural gas (LNG), Italian Energy Minister Gilberto Pichetto Fratin said on April 28.
Turkey is in talks with ExxonMobil to secure a long-term liquified natural gas (LNG) deal worth billions of dollars, aiming to diversify its energy sources, says Turkish Energy Minister Alparslan Bayraktar. The potential agreement could provide up to 2.5 million tons of LNG annually for 10 years.
The figures demonstrate that western sanctions targeting Moscow's oil and gas industries have not been as effective as hoped.
"Adopting the 14th sanctions package is one of the most important things," Swedish Foreign Minister Tobias Billstrom said when he arrived in Luxembourg for a ministerial EU meeting.
The European Parliament voted on April 11 to pass rules allowing member states to ban imports of Russian liquified natural gas (LNG), Reuters reported.
Russian gas producer Novatek is considering scaling back a major liquefied natural gas project due to the impact of Western sanctions, Reuters reported on April 4, citing sources in the industry.
Despite Russia’s incessant attacks on Ukraine’s energy system throughout its now more than two-year-old invasion, the country’s oil and gas giant Naftogaz just celebrated its first heating system without any gas imports. It is the “greatest moment in Ukraine’s energy history,” Naftogaz CEO Oleksiy Chernyshov told
"My message was that this year must bring further disengagement from Russian exports," Energy Commissioner Kadri Simson told Bloomberg following an EU-U.S. Energy Council meeting in Washington.
Over two years into Russia’s full-scale invasion of Ukraine, and Europe is still addicted to Russian fossil fuels. In spite of 13 sanctions packages against Russia and endless words of solidarity for Ukraine, recent data has revealed that many European Union countries continue to import massive amounts of liquified
A fire broke out at an oil depot in Russia's Kursk Oblast after a Ukrainian drone was shot down over its grounds, Roman Starovoit, the region's governor, claimed on March 10.
Kyiv and the EU have previously said they would not seek the prolongation of the transit deal for Russian gas, signed in 2019 and currently set to expire in December 2024.
The European Union's gas imports from Russia have decreased by 71% since 2021, EU Energy Commissioner Kadri Simson announced on March 4, following an Energy Council meeting in Brussels.
Russia's war in Ukraine was a watershed moment for Europe. Following Russia's full-scale invasion of Ukraine, which has killed tens of thousands and forced millions out of the country, Russia sought to punish the European Union for supporting Kyiv. Russia began to choke Europe, violating pre-existing energy contracts and unilaterally
Yuriy Vitrenko's desk, buried in paperwork, leaves little room for doubt – the winter of 2022 will be hard for Ukraine. Naftogaz, Ukraine's energy monopoly, will face an uphill battle to provide enough gas for this year's heating season, CEO Vitrenko told the Kyiv Independent. He said that this will be
Russia is officially the world's most sanctioned country, but the Kremlin doesn't seem to care. Since Moscow launched a full-scale invasion of Ukraine in February, trade bans from the European Union and the United States have seen imports grind to a halt. Meanwhile, hundreds of international companies have fled the
Editor’s Note: This op-ed was published by Atlantic Council. It is republished here with permission. With Russia threatening a new invasion of Ukraine, US and EU officials have been working on contingency plans to identify alternative energy supplies for European consumers in case Moscow disrupts westward deliveries of oil
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