First time drones have hit Russia's hinterland of gas in northern Siberia
Dmitry Artyukhov, the regional governor, said that a drone had attacked an 'industrial facility' in Novy Urengoy in northern Russia. This was a first attack in the natural gas hinterland of Russia. Artyukhov didn't identify the facility. Ukraine's Special Forces claimed they attacked two gas condensate installations in the area -- Novy Urengoy, and Purovsky district. President Volodymyr Zelenskiy praised these strikes for the impact they had on the Russian economy. Gazprom, the Russian energy company, did not respond to a comment request about the attack in 'the region', which is located 3,000 km (1.800 miles) away from the Ukrainian border.
Nepal's hydropower ambitions are tested by deadly floods
The floods in Nepal that destroyed a tenth its?electricity production capacity last week cast doubts on the ambitious plans for hydropower expansion. This forced the country to turn to India, a long-time power exporter, to keep the lights on. Nepal is largely reliant on hydropower for its?electricity? and has seen a rapid increase in export revenues. Adani Group and NHPC have committed to finance a threefold increase in capacity to supply India's coal heavy grid over the next decade. Mohan Kumar Shakya, spokesperson for the Nepal Energy Ministry…
Scientists say climate change is causing droughts in Europe.
Scientists?said that climate change has exacerbated drought in Europe this year as extreme heat evaporates the water supply, in an analysis published Thursday. Low water levels have 'disrupted farming, shipping and industries in countries such as Romania & Greece. This summer, drought is affecting many European countries. France is worried that it will have the smallest maize harvest in 50 years. Romania has limited farmer access to irrigation water. The Netherlands declared an water shortage last weekend. Seven Greek islands have declared drought emergency to conserve water.
Data shows that Europe experienced 10,000 deaths in excess during the late June heatwave.
Official data revealed that European countries had reported over 10,000 deaths in excess during the record-breaking heatwave?that engulfed western Europe late June. According to EuroMOMO data, the vast majority of cases -- over 9,000 -- occurred among those aged 65 and older. Heat stroke or a worsening of cardiovascular and respiratory disease can be fatal. Older people are most at risk. This kind of excess is not normal for this time of the year. Lasse Vestergaard is the Chief Physician of?Denmark’s Statens Serum Institut which hosts EuroMOMO. Vestergaard said that it is hard to explain the high mortality rate by anything other than extreme heat.
Scientists in the EU say that June was the hottest on record for Western Europe.
Scientists from the EU confirmed on Thursday that Western Europe had just experienced the warmest June ever recorded. An extreme heatwave ended the month, which broke temperature records and disrupted electricity supplies. Schools were also closed. In a monthly bulletin, the EU's Copernicus Climate Change Service C3S reported that June was the second warmest month on record. The planet also experienced its highest June sea surface temperature since records began. The data showed that the average temperature for Western Europe in June was 20,74 degrees Celsius (69,3 degrees Fahrenheit), which is more than 3 C higher than the average of the period 1991-2020.
Industry warns that EU restrictions on Chinese components could halt the rollout of renewables in developing countries.
Companies and investors have warned that a ban on EU funding of Chinese-made inverters, a key component for clean energy projects, could slow or stop the rollout solar and wind power projects in countries with lower incomes who rely heavily on public funds. The European Union wants to be more independent in certain strategic industries, but it is still heavily dependent on Chinese suppliers for technology that is crucial to the green transformation of the bloc. In May, the European Commission blocked EU funds for inverters, an essential component of solar…
Scientists in the EU say that June was the hottest on record for Western Europe.
Scientists from the EU confirmed on Thursday that Western Europe experienced its warmest June ever. An extreme heatwave in late-June smashed temperatures records, disrupted electricity supplies, and closed schools. In a monthly bulletin, the EU's Copernicus Climate Change Service C3S reported that June was the second warmest month on record. The planet also experienced its highest June sea surface temperature since records began. Data showed that the average temperature for Western Europe in June was 20,74 degrees Celsius, which is more than 3 C higher than the average of the period 1991-2020.
The French sugar industry is threatened by drought with no sign of rain.
Growers say a prolonged drought threatens sugar production?in France, Europe's largest sugar producer. No rain is forecast for the next two week in the?key regions of beets, they said. Concerns over European crops are fueling a rise in sugar prices. The El Nino weather pattern, which is affecting Asia, has also helped white sugar to gain nearly 10% over the last?week. Sugar prices had fallen to a five-year low in early this year due to an abundance of supplies. This hurt sugar producers' profits. Europe has been experiencing a heatwave that is unprecedented in its severity. It has disrupted the daily lives of many people for over a week and caused hundreds to die.
Scientists say that Europe's heatwave would be 'virtually unavoidable' without climate changes
Scientists said that the record-breaking heatwave in Western Europe would have been "virtually unachievable" without the human-caused climate?change. This has made temperatures of up to 100 degrees Celsius at night this week more probable than they were just 20 years ago. In an analysis, the World Weather Attribution Group of climate scientists stated that this heatwave was the worst ever recorded in the area studied. Britain set a new record for the month of June, on Thursday. The heatwave has caused dozens to die, shut down schools, cultural landmarks and disrupted electricity supplies.
Heatwave in Europe shuts down French nuclear plants
The heatwave that has swept across western Europe on Wednesday reduced France's nuclear production as the high temperatures in the country made it difficult to get water to cool the reactors. Data from French utility EDF revealed that output was reduced by 4.1 Gigawatts or?7% of the total power demand. In some parts of France, temperatures have risen to 40 degrees Celsius. This, coupled with reduced wind speed, has led to a rise in wholesale electricity prices. The wholesale spot electricity prices in France, Germany and the UK reached their highest levels since mid-January 20,25 on Tuesday as electricity systems struggled to cope with the heat.
EUROPE GAS-European gas prices rise on warmer weather
Dutch and British gas contract prices firmed up on Monday, as warmer weather is expected in Central Europe. This will increase demand for gas. Ship tracking also showed that gas tankers are trying to cross the 'Strait of Hormuz' during the peace talks between the U.S. ICE data revealed that the benchmark Dutch front-month contract for the TTF hub had increased EUR0.65 to EUR42.80 a megawatt hour. The British spot contract increased by 1.64 pence to 102.7 pence per thermo. LSEG analyst Yuriy Onieshkiv said that prices are likely to rise further today after news of the explosion at a factory in Qatar's Ras Laffan industrial City, which could delay production restart.
Norway Oil firms seek mediation to avoid a labour strike that could affect output
Offshore Norge, an industry group, said that wage talks between Norwegian oil companies?and labour unions?broke down on Wednesday. The state will now take over mediation to try and?prevent workers from going on strike. If the government-appointed mediator in Norway is unable broker a deal at the time of negotiations that resume later this summer, union members will be eligible to strike and disrupt?the output from Western Europe's biggest oil and gas producer. Offshore Norge reported that unions Styrke Safe and Lederne were unable to reach an agreement with companies. Although no date has been set yet, oil companies expect to have mediation in June.
Fitch warns that energy support measures may have a negative impact on France and Britain's finances.
Fitch Ratings will be watching to see if European governments are going to need to?roll out support measures to combat higher energy prices. This could increase fiscal pressures on countries like France and Britain, said a senior analyst. This week, oil and gas prices have risen as the war in the Middle East has stoked concerns among policymakers and on financial markets about inflation. Inflation, which soared after Russia invaded Ukraine, could rise again. They will decide whether to provide assistance based on the length of the war and if energy prices continue to rise.
Gas prices in Europe fall on forecasts of warmer temperatures
The benchmark British and Dutch wholesale gasoline prices fell on Tuesday morning as warmer temperatures forecasts reduced gas demand. LSEG data show that the benchmark Dutch 'front-month contract' at?the TTF Hub was down 0.46 euros to 30.30 Euros per Megawatt Hour (MWh), or $10.54 /mmBtu by 0908 GMT. The Dutch April rate was lower by 0.43 euros at 29.50?euros/MWh. The British day-ahead contracts was down 0.75 pence to 73.00?p/therm. The weather forecasts for Central and Western Europe have become a bit milder and more windy over the weekend.
French spots are feeling the effects of a warmer, windier climate
The French spot electricity contract fell on Monday, as a stronger wind output and milder temperature weighed on the?demand. LSEG data shows that the French day-ahead power contract at 1102 GMT was 57.55?euros (68.27 dollars) per megawatt at 1102 GMT. This is a 17% decrease from the price paid on Friday for Monday's delivery. LSEG data revealed that the equivalent German contract was not traded. LSEG data shows that German day-ahead prices have been missing in recent sessions. LSEG data showed that the German wind output was expected to 'rise' by 5 gigawatts to 18.1 GW on Monday, while French wind?generation would rise by 3.6 GW from 10.7 GW.
Storm Goretti increases spot electricity prices in Western Europe
The intraday price of power across Western European markets increased on Friday, as Storm Goretti caused power outages and problems with power generation equipment. EPEX spot data revealed that the average "baseload" price for Germany was 90.44 euro ($105.31), while France's price was 87.35 euro/MWh at 1207 GMT. LSEG data showed that this is higher than the closing spot price on Thursday of 74.75 euro/MWh or 67.75 euro respectively. Sabrina Kernbichler, an Energy Aspects analyst, says that power demand in Germany was higher than expected on Friday due to Storm Goretti, and this has pushed up the intraday price.
German prices are still high, but they have fallen in France.
The cold weather boosted the prices of France's power contracts, which are based on prompt delivery, in wholesale trading Tuesday. Germany's prices, however, fell, but remained nearly twice as high as their French equivalents. In recent days, low temperatures and a decline in wind power have increased electricity prices and caused them to be volatile. This is due to the weather-driven fluctuations in renewable output. Naser Hashemi, LSEG analyst, said: "Market conditions are tight due to the high consumption in Central Western Europe (CWE) and low wind generation.
INSIGHT- West scrambles fill the heavy rare earth gap, as China rivalry intensifies
Western efforts to create a domestic magnets supply chain in order to reduce their reliance on China, led by the massive U.S. support for Nevada-based MP Materials, are running into a major problem: a scarcity of heavy rare earth elements. United States and its allies are scrambling to find an alternative supply chain for super-strong rare earth magnetic components, which are essential in everything from electric vehicles and defence technology to electronics and windmills. MP Materials has ambitious plans for producing magnets in the next few years. This is backed by a deal signed with the U.S. Government that included billions of dollars.
The US wants Europe to continue using oil and gas instead of renewable energies
The world's investments in renewable energies aren't paying off and should be focused on securing a reliable supply of fossil fuels. This was the message from U.S. Energy and Interior Secretaries this week, as they tried to convince Europe to purchase more U.S. gas and oil. On the back of U.S. shale gas boom, the U.S. is now Europe's largest oil and natural gas supplier. Its companies are trying to increase their share at a time when the European Union is attempting to cut off all remaining Russian energy imports. The message of U.S. officials during an energy conference held in Athens, Greece this week highlighted the shift in U.S.
Greece signs long-term LNG supply agreement with US
Greece signed a 20-year deal to import 0.7 bcm of liquefied gas each year, starting in 2030. This is its first long term gas supply agreement with the United States. The deal aims to replace Russian gas shipments into Europe. The 20-year agreement comes just months after Trump's administration and the European Union inked a trade agreement in July. Europe pledged to purchase $250 billion of U.S. oil, LNG, and nuclear technology annually over the next three-year period as it sought to phase out Russian natural gas by 2027. Venture Global, a U.S. company, and Greece's largest gas utility DEPA have agreed to supply the product.