Energy

EU adopts 14th package of sanctions against Russia

Tue, 25 Jun 2024 12:41:46 +0000

EU adopts 14th package of sanctions against Russia

The Council of the European Union on Monday (24 June) adopted a 14th package of economic and individual restrictive measures against Russia, "dealing a further blow to the Putin regime and those who perpetuate its illegal, unprovoked and unjustified war of aggression against Ukraine". These measures are designed to target high-value sectors of the Russian economy, such as energy, finance and trade, and make it increasingly difficult to evade EU sanctions.

Maximiliaan va… Tue, 06/25/2024 - 14:41

Read more about EU adopts 14th package of sanctions against Russia

New report reveals climate impact of Russia's war in Ukraine: $32 billion damage over two years

Thu, 13 Jun 2024 11:25:11 +0000

New report reveals climate impact of Russia's war in Ukraine: $32 billion damage over two years

Russia's ongoing full-scale war in Ukraine, initiated on 24 February 2022, has caused significant environmental and climate damage, severely impacting global efforts to combat climate change. This is highlighted in the latest report from the Initiative on Greenhouse Gas Accounting of War (IGGAW), which analyses the environmental costs over the past two years. The report was published Thursday (13 June) by the Ministry for Environmental Protection and Natural Resources of Ukraine in collaboration with climate advocacy groups. The IGGAW report estimates climate-related damages at $32 billion, attributed to activities such as the extensive use of military fuels and the destruction of landscapes and infrastructure. Over 24 months, the conflict resulted in the emission of 175 million tonnes of carbon dioxide - more than the annual emissions of a developed country like the Netherlands.

Maximiliaan va… Thu, 06/13/2024 - 13:25

Read more about New report reveals climate impact of Russia's war in Ukraine: $32 billion damage over two years

Analysis: Kazakhstan has to balance its Green Hydrogen mega-project with domestic and ecological constraints

Wed, 08 May 2024 07:40:59 +0000

Analysis: Kazakhstan has to balance its Green Hydrogen mega-project with domestic and ecological constraints

Introduction

dennis2020 Wed, 05/08/2024 - 09:40

Read more about Analysis: Kazakhstan has to balance its Green Hydrogen mega-project with domestic and ecological constraints

Opinion: Armenia-Azerbaijan Gas Co-operation: Pipe Dream or Reality?

Tue, 07 May 2024 05:58:05 +0000

Opinion: Armenia-Azerbaijan Gas Co-operation: Pipe Dream or Reality?

In that context, is it even possible to consider Armenia purchasing gas from Azerbaijan? Unless Yerevan can cancel or renegotiate its existing obligations, that remains unknown. However, that is not to say there aren’t other opportunities. Given the finite nature of fossil fuels, and a gradual switch to renewables anyway, perhaps alternative energy sources offer more potential. Armenia already exports electricity to Georgia and that could be expanded to include Turkiye and through the Black Sea Submarine Cable too – but likely only if normalisation continues. "Following an unprecedented joint statement by Yerevan and Baku last December, in which Armenia green lit Azerbaijan hosting the United Nations Climate Change Conference (COP) later this year, the event offers the opportunity to take this conversation further. At the weekend, Azerbaijani Presidential Advisor Hikmet Hajiyev had already put the focus on making the important global event “an engine for peace by finding common ground […].” As the world continues to grapple with the problem of climate change and securing new sources of energy for the future, it is vital that Armenia, Azerbaijan, and Georgia work together as part of a larger solution. The signs are already there", wites Onnik James Krikorian in this op-ed for commonspace.eu

dennis2020 Tue, 05/07/2024 - 07:58

Read more about Opinion: Armenia-Azerbaijan Gas Co-operation: Pipe Dream or Reality?

Opinion: Azerbaijan is now a major contributor to Europe's energy security

Sat, 16 Mar 2024 07:57:55 +0000

Opinion: Azerbaijan is now a major contributor to Europe's energy security

In the shifting landscape of global energy dynamics and geopolitical uncertainties, the relationship between Azerbaijan and the European Union (EU) has emerged as a beacon of mutually beneficial and strategic partnership. The relationship between the two sides is multilayered, and is of wider geostrategic importance. While the EU, among others, is a major partner for Azerbaijan constituting about 65 percent of its total foreign trade, Azerbaijan is a critical country for the EU in the Europe-Asia connectivity, and as an energy supplier.

dennis2020 Sat, 03/16/2024 - 08:57

Read more about Opinion: Azerbaijan is now a major contributor to Europe's energy security

Opinion: Azerbaijan and the EU - engage or disengage?

Wed, 21 Feb 2024 12:40:22 +0000

Opinion: Azerbaijan and the EU - engage or disengage?

The answer to the question of engagement versus disengagement in Azerbaijan's relations with the EU lies in recognizing that the current discontent in the relations is likely temporary, writes Gulkhannim Mammadova in this op-ed for commonspace.eu. "Azerbaijan's dependence on Europe, both economically and strategically, makes a full-fledged decoupling unrealistic. Baku is deeply embedded in the European economy, with a focus on energy and transport cooperation.

dennis2020 Wed, 02/21/2024 - 13:40

Read more about Opinion: Azerbaijan and the EU - engage or disengage?

Oil markets jittery after Israel rejects Gaza ceasefire

Fri, 09 Feb 2024 07:48:35 +0000

Oil markets jittery after Israel rejects Gaza ceasefire

Oil prices were little changed on Friday, staying on track for weekly gains, but the markets remained jittery with tensions persisting in the Middle East after Israel rejected a ceasefire offer from Hamas, according to Reuters. Brent crude futures slipped 1 cent to $81.62 a barrel by 6:34 a.m. Saudi time, while US West Texas Intermediate crude futures rose 3 cents to $76.25 a barrel. Both benchmarks rose about 3 percent in the previous session as Israeli forces bombed the southern border city of Rafah on Thursday after Prime Minister Benjamin Netanyahu rejected a proposal to end the war in the Palestinian enclave. The tensions have kept oil prices elevated, with Brent and WTI both set to gain more than 5 percent for the week. “The move yesterday seemed a bit excessive on the back of not very much at least in terms of fundamentals,” ING’s head of commodities research Warren Patterson said. “I still expect the rangebound trading that we have become accustomed to recently will continue given the comfortable oil balance.” US officials made their most pointed criticism so far of Israel’s civilian casualties in Gaza as it turned the focus of its offensive to Rafah. A Hamas delegation arrived in Cairo on Thursday for ceasefire talks with mediators Egypt and Qatar. While the conflict has propped up prices, there has been no impact on oil production. Non-Organization of the Petroleum Exporting Countries output from Norway and Guyana is increasing while Russia is exporting more crude in February than it planned following a combination of drone attacks and technical outages at its refineries that could undermine its pledge to curb sales under a pact from OPEC and its allies, known as OPEC+ Under the deal, Russia committed to capping crude output at 9.5 million barrels per day. It is also voluntarily cutting crude exports by 300,000 bpd and fuel exports by 200,000 bpd from the average May-June level.

dennis2020 Fri, 02/09/2024 - 08:48

Read more about Oil markets jittery after Israel rejects Gaza ceasefire

Michel congratulates Aliyev on his re-election

Fri, 09 Feb 2024 07:23:33 +0000

Michel congratulates Aliyev on his re-election

European council president Charles Michel, on Thursday at 1100 CET held a telephone conversation with the president of Azerbaijan Ilham Aliyev during which he congratulated him on his re-election as president following the 7 February early presidential elections.

dennis2020 Fri, 02/09/2024 - 08:23

Read more about Michel congratulates Aliyev on his re-election

Unblocking the Caspian route for Turkmen gas

Tue, 23 Jan 2024 12:58:50 +0000

Unblocking the Caspian route for Turkmen gas

Turkmenistan, for decades considered one of the most closed countries in the world, is moving towards modest attempts at opening up its economy. Western sanctions against Russia which caused a gradual halt to energy supply from Russia to Europe and swelling Russian gas supplies to China, once Turkmenistan’s almost-exclusive client, made Ashgabat face a new reality that challenged its longstanding economic model, resulting in a significant deterioration of living standards and social discontent. Against this background, the country had to start considering options for diversifying its gas export geography and attracting foreign investment, writes Murad Muradov in this analysis prepared for commonspace.eu. The big question remains however whether the long-cherished idea of the Transcaspian pipeline, a link which would bring Turkmenistan’s gas to European markets, will finally come to fruition after many years of aborted attempts and uncertainty. This may be within reach sooner and faster than expected.

dennis2020 Tue, 01/23/2024 - 13:58

Read more about Unblocking the Caspian route for Turkmen gas

Critical undersea infrastructure underlines emerging energy security challenges

Thu, 12 Oct 2023 13:31:04 +0000

Critical undersea infrastructure underlines emerging energy security challenges

The recent incident involving the Balticconnector pipeline, a critical natural gas link between Finland and Estonia with an annual capacity of around 2.6 bcm, has brought to the fore escalating energy security concerns, particularly in the context of NATO's strategic considerations. A leak in the pipeline and damage to an undersea communication cable were discovered on 8 October, leading to an immediate shutdown for investigation.

Maximiliaan va… Thu, 10/12/2023 - 15:31

Read more about Critical undersea infrastructure underlines emerging energy security challenges