Ukraine

Pressure on Europe to secure alternative gas supplies increased on Thursday as Moscow imposed sanctions on European subsidiaries of state-owned Gazprom a day after Ukraine stopped a major gas transit route. Gas prices surged, with the key European benchmark gaining 12% as buyers were unsettled by the mounting threats to Europe's supply, given its high dependence on Russia.
  • May 15, 2022
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The EU believes it can phase out dependence on fossil fuels from Russia well before 2030. To do so, the Commission has proposed a REPowerEU plan that will increase the resilience of the EU-wide energy system. A key aspect of this plan details the importance of diversifying gas supplies via higher levels of biomethane. 
  • May 11, 2022
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Croatia's Economy and Sustainable Development Minister, Davor Filipović said that among all EU member countries, his country would feel the fewest consequences if Russian gas supply was to be cut off thanks to its LNG terminal on Krk island.
  • May 12, 2022
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Gazprom has written to its European customers to reassure them that they can continue to pay for gas without breaching sanctions. This comes after European Commission proposed a total ban on Russian oil imports to the European Union.
  • May 11, 2022
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Spain and Portugal have sent their proposal on how to cap the price of natural gas used to generate electricity to the European Commission. The premier said he hopes to get approval from the Commission soon in order to be able to start implementing the plan during the next few days.
  • May 10, 2022
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Finnish energy company Fennovoima is terminating the Hanhikivi 1 project that would have seen a nuclear plant constructed in Pyhäjoki on the western Hanhikivi Peninsula in cooperation with Russian nuclear energy giant Rosatom.
  • May 10, 2022
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