A Swiss court has granted a six-month "stay of bankruptcy" to the operating company for the never-opened Nord Stream 2 pipeline, which was built to bring Russian gas to Germany but put on ice shortly before Russia invaded Ukraine in February.
Nord Stream 2
A relentless stream of bad news has kept European gas markets tight and on edge.
The Nord Stream pipelines appear to have stopped leaking, according to the Danish Energy Agency, while accusations are thrown over responsibility.
A new leak has been discovered on the Nord Stream 1 and 2 gas pipelines in the Baltic Sea, bringing the total number of ruptures to four, according to the Swedish Coast Guard’s Command Center.
Nord Stream 1 and 2 have sprung a number of leaks simultaneously, releasing gas into the environment.
Uniper has been hard hit by reduced Russian gas deliveries, posting major losses and with better times only coming in 2024, it has said.
Russia’s shunned Nord Stream 2 gas pipeline won a legal boost in its pre-war challenge against European Union rules that subjected all new and existing pipelines involving foreign suppliers to the EU’s energy market-opening requirements, after the bloc’s top court said its appeal can be heard.
Uniper has warned a “significant earnings decline” for the first quarter as it shifts its strategy to releasing gas later in the year.
OMV has taken a charge of around 2 billion euros ($2.17 billion) on the exit of its Russian holdings.
Shell has begun to quantify the cost of its exit from Russia in an update ahead of its Q1 2022 results.
The Ukraine crisis has pushed Moscow and Beijing closer together as Russia and China jointly push back against US dominance.
Wintershall DEA says it will not “advance or implement” any oil and gas projects in Russia, and will write off its €1 billion (£830 million) financing of Nord Stream 2.
Oil and gas giant Shell has become the latest company to divest from Russia following the country’s invasion of the Ukraine.
Russia’s lower house of parliament, the State Duma, unanimously ratified the Kremlin’s treaties recognizing two self-proclaimed republics in eastern Ukraine.
Europe is too reliant on Russian gas. In fact, Europe is too reliant on gas full stop but it being mainly Russian gas makes it even more problematic.
How hard will energy-starved Europe be hit by a potential Russian invasion of Ukraine? It depends on how President Joe Biden reacts.
The recent spectacular increase in the UK wholesale natural gas price from less than 50 pence per therm in April 2021 to a peak of nearly 300 pence in October came as a complete surprise to everyone, including market traders engaged daily in buying and selling the commodity.
The US imposed sanctions on a ship involved in the construction of the Nord Stream 2 gas pipeline as the Biden administration looks to exert more pressure on Russia without antagonising Germany.
Russia’s controversial Nord Stream 2 pipeline faces another delay after Germany suspended a key step in the approval process, sending European gas prices surging as much as 12%.
The chairman of the Oil and Gas Authority (OGA) has levelled an accusation at Russia over its role in the gas price crisis.
Gazprom has confirmed that it has completed construction of the Nord Stream 2 gas pipeline, while also moving ahead with plans for a new LNG plant.
Nord Stream 2 AG, the controversial gas pipeline project owned by Gazprom, lost a German court fight to sidestep European Union rules separating production from transportation, a decision that may delay the start of the operations.
Russia is stepping up work on the Nord Stream 2 pipeline before the US tightens sanctions against the controversial project designed to feed more natural gas into Germany.
Germany’s planned Wilhelmshaven regasification terminal is reconsidering import plans and may opt to shift to hydrogen.
President Donald Trump’s top energy official said he’s confident that Russia won’t be able to complete the Nord Stream 2 gas pipeline in the Baltic Sea -- and signalled that the U.S. will press forward with its opposition to the project.