Alternatives to Russian Energy Reserves

The Hill said:

Qatar, which possesses the third-largest gas reserves in the world, after Russia and Iran, has proved unable to provide any immediate relief for Europe: 75 percent of its exports are locked in long-term contracts with Asian countries. While U.S. export of liquified natural gas to Europe has increased, at current levels, they are not large enough to be a substitute for the Russian gas imports. This may partially explain why Germany, the largest importer of Russian natural gas in Europe, announced the cancellation of Nord Stream 2 gas project with Russia. But they also declared they plan to import Russian oil and gas at least until 2027.

As sanctions against Russia have made its oil and gas toxic, to compensate for the shortfall in the market, such previously sanctioned producers like Venezuela and Iran are now being cultivated as the possible new sources of supply. In the United States, shale oil producers have pledged to increase their production by 1 million barrels a day by the end of the year.

The new EU energy strategy, to be unveiled this month, calls for a 37 percent reduction in fossil fuel use by 2030. The plan calls for reducing the current supply of 40 percent of European natural gas from Russia to half by next year. The goal is to gradually decrease Europe’s dependence on Russian gas. Some of the shortfall will be filled/

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Russian invasion of Ukraine means green light for green energy in Europe

Many countries in East and Central Europe receive 40 percent of their natural gas and 25 percent of their oil imports from Russia.

thehill.com

Husky_Khan said:

The EU is passing a few initiatives with goals of weaning off of Russian Natural Gas specifically and Fossil Fuels in general.

Russian invasion of Ukraine means green light for green energy in Europe

Many countries in East and Central Europe receive 40 percent of their natural gas and 25 percent of their oil imports from Russia.

thehill.com

Also looks like Bulgaria might get an extension of the TANAP pipeline that currently ships gas from Azerbaijan, across Anatolia and through Greece, and Albania and across the Adriatic Sea to Italy as an alternative to Russian gas contracts.

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Arch Dornan said:

Germany to restart coal plants

Germany will restart coal-fired power plants and offer incentives for companies to curb natural gas consumption, marking a new step in the economic war...

www.marketwatch.com

Bye bye green energy?

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DarthOne said:

Hopefully it’s the start of a good trend. Good lord Germany needs to get its shit together

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