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MOSCOW, Russia (AFP) — Russian President Vladimir Putin said Wednesday it was “very important” to stabilize the gas market, as Europe faces a gas crisis ahead of winter due to a surge in prices and a drop in reserves. Speaking at an energy forum in Moscow, Putin said it was “very important” to “suggest a long-term mechanism to stabilizRuse the energy market” in what he called a “difficult situation.” © Agence France-Presse
by Roland JACKSON Agence France-Presse LONDON, United Kingdom (AFP) – European and UK gas prices surged Wednesday to record peaks, energised by fears of runaway demand in the upcoming northern hemisphere winter. Europe’s reference Dutch TTF gas price hit 162.12 euros per megawatt hour and UK prices leapt to 407.82 pence per therm in morning deals. However, prices later reversed as supply concerns eased somewhat. “It’s panic and fear with winter just around the corner,” […]
LONDON, United Kingdom (AFP) – Britain, which faces soaring natural gas prices, has been forced to run coal-fired power stations in order to secure energy supplies, electricity generation company Drax said on Thursday. The country is particularly exposed to Europe’s ongoing energy crisis due to its reliance on natural gas to generate electricity. The price of European gas futures has more than doubled since May. “These facilities have fulfilled a critical role in keeping the […]
by Joe JACKSON Agence France-Presse MALDON, United Kingdom (AFP) – The tranquil landscape of flat farmland and small villages in the Essex countryside in southeast England seems a world away from Britain’s escalating energy crisis. But fertiliser and carbon dioxide shortages are beginning to bite at places like Wicks Manor Farm, which rears pigs for pork and grows crops. “We’ve got some real concerns (and) quite frightening consequences to farming, as an industry throughout the […]
LONDON, United Kingdom (AFP) – Britain has signed a deal enabling it to restart production of captured carbon dioxide for three weeks, Business Secretary Kwasi Kwarteng said Tuesday, after a shortage of the gas had sparked renewed food supply concerns. Two UK fertiliser plants accounting for up to 60 percent of Britain’s CO2 supply — which is vital for the food industry — shut last week due to spiking natural gas costs. But Kwarteng announced […]
GOMA, DR Congo (AFP) — Orders on Thursday to evacuate Goma, a city lying in the shadow of DR Congo’s Mount Nyiragongo volcano, have shed light on a rare but potentially catastrophic risk — a “limnic eruption,” when volcanic activity combined with a deep lake can spew out lethal, suffocating gas. The phenomenon first came to the world’s attention in August 1984, when 37 people mysteriously died at Lake Monoun in western Cameroon. Scientists found […]
NAQURA, Lebanon (AFP) — Lebanon and Israel held US-mediated negotiations over their disputed maritime border on Tuesday after a months-long hiatus, in efforts to clear the way for offshore oil and gas exploration. The five-hour indirect talks, between countries still technically at war, were held at the UN base in the town of Naqura in southern Lebanon, the National News Agency (NNA) said. Washington said Friday they were to be brokered by US diplomat John […]
BAGHDAD, Iraq (AFP) — The US has granted Iraq a three-month extension to a sanctions waiver allowing it to import Iranian gas, an Iraqi official told AFP Monday. The move represents a welcome reprieve for a country that relies heavily on its neighbour for energy supplies. Iraq buys gas and electricity from Iran to supply about a third of its power sector, worn down by years of conflict and poor maintenance and unable to meet […]
BEIRUT, Lebanon (AFP) — At least 10 people were injured Sunday when an explosion rocked a warehouse storing gas canisters near Lebanon’s border with Syria, the Lebanese Red Cross and the army said. The Red Cross said it dispatched several teams of rescuers to the village of Al-Qasr in the eastern Hermel region where the explosion occurred and rushed the injured to hospitals. “We have responded to an explosion in a warehouse that stores gas […]
NEW DEHLI, India (AFP) — A massive oil well fire that raged for more than five months in northeast India has finally been extinguished, officials said Sunday. Oil India engineers had battled the blaze in Assam state since an explosion in June, weeks after the well blew out and began discharging huge quantities of natural gas. Two employees of the state-owned company died in the blast, which sent a wall of flame and massive plumes […]
GUWAHATI, India (AFP) — A huge fire broke out at an oil field near popular ecotourism spots in northeastern India on Tuesday, after gas that had spewed for two weeks from a blown-out well ignited, officials said. The gas well at an oil field managed by state-owned Oil India started leaking in late May in Tinsukia district of Assam state, and the firm said late last week gas was still flowing “uncontrollably”. Tuesday’s explosion sent […]
by Marlowe HOOD Agence France-Presse PARIS, France (AFP) — Falling fossil fuel demand coupled with mounting risk for investors could slash the value of oil, gas and coal reserves by two thirds, sending shock waves through the global economy, energy analysts warned Thursday. The value of projected profits for the sector could also fall by two thirds, according to a report from Carbon Tracker, a non-profit financial think tank focused on aligning capital markets with […]
