Research from consulting giant McKinsey & Company claims failure to do so would put countries at “substantial risk” from a rebound in Asian demand or reductions in Russian imports.
European natural gas prices rose to the highest level in almost four months on persistent supply concerns amid the worst energy crunch in decades.
Russia’s lower house of parliament, the State Duma, unanimously ratified the Kremlin’s treaties recognizing two self-proclaimed republics in eastern Ukraine.
European gas surged to the highest level in a month, fueling wider inflation concerns, as delays to a controversial new pipeline from Russia stoked fears of a supply shortage this winter.
Britons won’t have to worry about staying warm this winter and they have Norway to thank.
Cameroon-based gas supplier Victoria Oil & Gas said there had been minimal impact from weak oil prices or customers changing back to oil..
Ukraine plans to increase natural gas imports from Europe in August with a view to boosting injections into storage for next winter, Energy Minister Volodymyr Demchyshyn said on Monday. He told a televised briefing that Ukraine aimed to import around 40 million cubic metres (mcm) of gas per day from Europe, up from 24 mcm of gas per day in July. Plans call for increasing injections into underground storage to 52-53 mcm per day in August from the current 35-40 mcm.
Ukraine increased its purchase of natural gas imports from Slovakia by 41 percent on Tuesday, boosting its storage supplies, transport monopoly Ukrtransgaz said. Cash-strapped Ukraine is now buying most of its natural gas from Slovakia after halting imports from Russia three weeks ago due to a pricing dispute. It was unclear whether the increase on Tuesday was due to price factors or other reasons.
Ukraine does not agree with gas discount proposed by Russia for third-quarter gas deliveries, Russia's RIA news agency quoted Ukraine's Energy and Coal Minister Vladimir Demchishin as saying on Tuesday.