€110m Austrian agri-producer scheme approved

€110m Austrian agri-producer scheme approved: The European Commission has passed a €110 million (£92,7m) Austrian scheme to help essential agricultural producers impacted particularly hard by soaring energy prices considering Russia’s invasion of Ukraine. It has been approved for the scheme under the state aid Temporary Crisis Framework, understanding that the EU economy is going through…
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Gas & electicity for the next 8 months bought by council

Gas & electicity for the next 8 months bought by council Slough Borough Council in the South East of England will buy 100% of its estimated energy consumtion until March 2023 in advance. Previously this year, the local authority could see its energy bills soar by an additional £3m as a result of the rising…
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Germany to examine Nord Stream gas turbine

Germany to examine Nord Stream gas turbine: The German Chancellor, Olaf Scholz, intends to stop in at the facility where the Nord Stream 1 gas turbine is stored following maintenance. The turbine has been the focus of a dispute between Russia and Europe regarding the announced indications of its arrival during Gazprom’s allegations in respect…
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Latvia’s response for Russia’s gas cutting

Latvia’s response for Russia’s gas cutting Latvian officials have reassured homes & businesses that there will be no major interruption to energy security after Russia’s choice to wipe out gas supplies to the country. “Today, Gazprom stopped its gas supplies to Latvia specified in the July request due to a violation of the conditions established…
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EDF & Veolia condemned for keeping Russian ties

EDF & Veolia condemned for keeping Russian ties: Energy company EDF and waste, energy and water services firm Veolia have encountered criticism for maintaining various contracts with Russia. Environmental group Greenpeace has pushed for EDF to cut the contractual connections to Russian state-owned firm Rosatom. Reports believe the contract with the Russian nuclear power giant…
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Europe fights energy crisis by cutting gas

Europe fights energy crisis by cutting gas: European ministers have decided voluntarily to reduce their countries’ gas consumption by 15% from 1st August to 31st March 2023 in a effort to get ready for a complete disruption of Russian gas this winter. After Gazprom reported an additional decline in the gas flows via the Nord…
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Canada faces lawsuit in Nord Stream 1 turbine act

Canada faces lawsuit in Nord Stream 1 turbine act: A group in Ukraine has filed a lawsuit against Canada in response to the country’s choice to permit the return of a refurbished Nord Stream 1 turbine to Germany. The decision to grant the permit was not “reasonable, transparent, or properly authorised”, states the notice of…
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Oil prices to reach $380 a barrel if Russia cuts more off

Oil prices to reach $380 a barrel if Russia cuts more off: Experts have cautioned that oil prices could soar to ‘stratospheric’ levels because of sanctions imposed by Western countries. If Russia responds to sanctions with reductions in crude oil output, the authors of a current report by JP Morgan Chase forecast that worldwide oil…
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Putin to take control of project owned partly by Shell

Putin to take control of project owned partly by Shell: Vladimir Putin has signed a decree that will possibly allow Russia to take hold of an energy project owned by Gazprom, Shell as well as other foreign entities. The decree hands over the rights of the project to a new Russian business. At present, Shell…
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