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    A view shows valves near a drilling rig at a gas processing facility, operated by Gazprom company, at Bovanenkovo gas field on the Arctic Yamal peninsula, Russia May 21, 2019.Maxim Shemetov | Reuters Gasum, Finland's state-owned gas wholesaler, said in a statement that natural gas imports from Russia will be halted on Saturday. "Starting from tomorrow, during the upcoming summer season, Gasum will supply natural gas to its customers from other sources through the Balticconnector pipeline. Gasum's gas filling stations in the gas network area will continue in normal operation," Gasum's CEO Mika Wiljanen said in a statement. "It is highly regrettable that natural gas supplies under our supply contract will now be halted. However, we have been carefully preparing for this situation and provided that there will be no disruptions in the gas transmission network, we will be able to supply all our customers with gas in the coming months." It gave no reason for the move but it comes just two days after Finland formally applied to join NATO. Russia had warned of retaliation if the traditionally-neutral nation decided...
    London (CNN Business)Europe was hit this week by yet another abrupt interruption to its supply of natural gas from Russia — the latest incident underscoring the vulnerability of the continent's energy supply.Even as the war has raged for more than two months, gas from Russia has continued to flow westward, much of it via pipelines in Ukraine. But late Tuesday, Ukraine's gas transmission system operator said it had suspended gas shipments through its Sokhranivka transit point, which processes as much as 32.6 million cubic meters per day. That's about a third of Russia's gas flowing through Ukraine to Europe. The Ukrainian operator blamed "interference by the occupying forces" in announcing the route's suspension. It accused Russian forces of tampering with the transit point and siphoning off gas. As a result, the operator said the "stability and safety of the entire Ukrainian gas transportation" had been compromised, and it was forced suspend gas flows. It wasn't clear when gas flows through Sokhranivka would resume. The broader impact has so far been limited. While Ukraine transports in total about 30% of Russia's...
    KYIV, UKRAINE: Director General of Gas Transmission System Operator of Ukraine LLC (GTSOU) Serhiy Makogon. GTSOU will block Russian gas flows via two key entry points in Russian-occupied territory from Wednesday, May 11, 2022.Yuliia Ovsiannikova/ Ukrinform/Future Publishing via Getty Images European natural gas prices jumped after Ukraine's state-owned grid operator suspended Russian flows through a key entry point. Gas TSO of Ukraine on Tuesday announced force majeure – unforeseeable circumstances that prevent the fulfilment of a contract – the first declaration of its kind since Russia invaded Ukraine on Feb. 24. It said it would not accept flows through its Sokhranivka entry point, which delivers Russian gas to Europe, from Wednesday. The operator has also blocked gas transport through its border compressor station Novopskov, through which almost a third of gas (up to 32.6 million cubic meters per day) from Russia to Europe is moved. TTF European natural gas prices were up more than 6.4% by around 9:15 a.m. London time on Wednesday, according to Refinitiv data. Both the Sokhranivka gas metering station and Novopskov are situated in Russian-occupied areas...
    London (CNN Business)Ukraine suspended the flow of some Russian natural gas to Europe on Wednesday, blaming Moscow for diverting supplies from the vital pipeline network. Russian gas, a vital source of energy for many economies in the European Union, had continued to flow uninterrupted through pipelines across Ukraine since President Vladimir Putin ordered troops to invade in February. But in a statement late Tuesday, the Ukrainian gas transmission system operator said it had decided to suspend operations at a key transit point because of "interference by the occupying forces." The Sokhranivka measuring station handles as much as 32.6 million cubic meters of gas per day, or about a third of Russian gas flows to Europe, the operator said. It said Russian interference, including the unauthorized diversion of gas, had "endangered the stability and safety" of the system. Ukraine said gas volumes could be shifted to the Sudzha transit point in territory it controls. But Russia's state gas company, Gazprom, said in a statement that was "technically impossible." Read More— This is a developing story and will be updated.— Alex Stambaugh...
    The price of natural gas skyrocketed more than 30% in Europe on Tuesday after Russia continued to withhold key supplies with winter weather approaching. While the price, measured by the Dutch natural gas index, fell after its early spike, it remained about 20% higher at around midday Tuesday, Reuters reported. In December, Russian state-owned gas provider Gazprom slowed gas flows transported through the Yamal-Europe pipeline to Germany and reversed the flows’ direction from westward to eastward. Tuesday marked the 15th consecutive day the pipeline’s natural gas flowed from Europe back toward Russia, according to Reuters. While the pipeline is responsible for just 10% of the region’s supplies, the reversal has sent the price of gas to record highs. “European gas prices have rebounded, supported by the additional drop in Russian flows,” market analysts at the research firm Engie Energyscan said, according to Reuters. (RELATED: Germany Says Nuclear Energy Is ‘Dangerous,’ Slams EU For Labeling It Sustainable) The Russian government has denied interference in the pipeline’s operations, saying the flow reversal was a commercial matter. Russian President Vladimir Putin also placed...
    European natural gas prices hit an all-time high Tuesday after Russia suddenly reversed flows through a key pipeline transporting gas to Germany. The Dutch natural gas calendar, the benchmark European index, surged around 20% to over $195 per megawatt hour on Tuesday. The record price spike came after Russian state-owned energy firm Gazprom reversed and slowed gas flows through the Yamal-Europe pipeline, one of three routes the company uses to export natural gas to western Europe, the Financial Times reported. The pipeline’s flows from Russia declined to 6% of its capacity on Saturday and 5% capacity on Sunday, according to the FT. While the Yamal-Europe route, which travels through Poland, is responsible for just 10% of the natural gas supply in the region it supports, declining flows had an immediate impact on natural gas prices. “The market is in a febrile state, so these things come out and the prices are affected significantly and immediately,” IHS Markit’s Laurent Ruseckas told the FT. (RELATED: ANALYSIS: Biden’s Nord Stream 2 Move Opens The Door To A Russian Invasion Into Ukraine) The Kremlin,...
    An output filtration facility of a gas treatment unit at the Slavyanskaya compressor station (operated by Gazprom), the starting point of the Nord Stream 2 offshore natural gas pipeline. According to Russia's Deputy Prime Minister Alexander Novak, the construction of Nord Stream 2 will be completed by the end of this year.Peter Kovalev | TASS | Getty Images LONDON — Russia has slowed the delivery of piped natural gas to Europe in recent weeks, according to analysis from ICIS, a commodity intelligence service, raising questions about the potential causes behind the drop and its implications for global gas markets. It comes shortly after German Chancellor Angela Merkel sought to ease long-running concerns about the nearly completed Nord Stream 2 pipeline, saying further sanctions may be imposed if Moscow used gas "as a weapon." The controversial project is designed to deliver Russian gas directly to Germany via the Baltic Sea, bypassing Ukraine and Poland. Critics argue the pipeline is not compatible with European climate goals, increases the region's dependence on Russian energy exports and will most likely strengthen Russian President Vladimir...
    WASHINGTON - After a six-day distribution pinch that prompted panic at the gasoline pumps in parts of the country, fuel is flowing again through an eastern U.S. pipeline that had been crippled by a ransomware attack blamed on Russian hackers known as DarkSide. “Don’t panic,” U.S. President Joe Biden appealed to motorists on Thursday. “This is a temporary situation. Don’t get more gas than you need in the next few days.” The president also warned gas station operators not to engage in price gouging. FILE - A customer helps pump gas at Costco, as others wait in line, in Charlotte, N.C., May 11, 2021.“Do not try to take advantage of consumers during this time,” he said in remarks from the Roosevelt Room of the White House. “Nobody should be trying to use this situation for financial gain.” Colonial Pipeline “has made substantial progress in safely restarting our pipeline system and can report that product delivery has commenced in a majority of the markets we service,” the company said in a Thursday morning statement. “By midday today, we project that...
    Now that’s a hot shot.  Molten lava oozed from the mouth of the Fagradalsfjall volcano in southwest Iceland Friday when it erupted after having been dormant for 6,000 years. And the resulting mind-blowing footage of the natural phenomena is almost too hot to handle.  Aerial photographer Bjorn Steinbekk flew his drone over the fiery gush over the weekend, capturing stunning viral video of the lava as it flowed down the Fagradals Mountain on Iceland’s Reykjanes Peninsula.  The eruption, sparked after a series of earthquakes in the area, was the peninsula’s first volcanic explosion in 781 years, per the Associated Press.  Photographer Muhammed Emin Kizilkaya made a two-hour trek up the volcano Sunday for up-close shots of the spewing lava as its electric-red glow lit up the otherwise gray Icelandic sky.   “It was extremely hot! You could stand five [meters] from it and it would be too much,” Kizilkaya told Caters News of the blaze.  “This is the most surreal, extraordinary and mind-blowing thing I’ve ever witnessed,” he added. “I slapped my face a couple of times to check whether...
    Bloomberg Goldman’s Sheila Patel, Chairman of $1.8 Trillion Manager, to Retire (Bloomberg) — Sheila Patel, chairman of Goldman Sachs Group Inc.’s asset-management unit, is leaving the $1.8 trillion division after almost two decades at the firm.Patel, 51, is among the company’s most senior women and shepherded some of Goldman’s highest-profile relationships with investors around the world. She will step down from the partnership and become an advisory director in the new year, Chief Executive Officer David Solomon said in a memo to staff Monday.“Sheila has contributed to our culture, including by serving as a mentor to many Goldman Sachs professionals around the world,” Solomon said in the memo. “I look forward to benefiting from her continued counsel.”Patel rose to Goldman’s highest ranks in 2006 when she was named partner within three years of joining the firm. Part of the bank’s management committee in Europe, she’s overseen the fast-growing areas of environmental, social and governance and impact investing.Prior to joining the asset-management unit, she worked in various roles in the equities division, including as co-head of distribution in Asia and head...
    By Scott DiSavino (Reuters) - Cheniere Energy Inc and Cameron LNG reduced the amount of natural gas flowing to their liquefied natural gas (LNG) export plants in Louisiana on Thursday as Hurricane Delta approaches the Gulf Coast. Officials at both companies were not immediately available for comment but have said they were watching the storm and have procedures in place to keep plant workers and equipment safe. The last time a major hurricane, Laura, passed close to Cameron and Cheniere's Sabine Pass, both companies evacuated personnel and shut the facilities before the storm made landfall. Hurricane Delta is expected to slam into southwest Louisiana near Cameron and Sabine on Friday afternoon with winds of over 100 miles per hour (161 kph). Energy traders said the drop in U.S. LNG exports from Laura and now the expected decline from Delta helped boost gas prices in Europe and Asia to their highest since the start of the year. The amount of pipeline gas flowing to Sabine fell from a five-month high of 4.0 billion cubic feet per day (bcfd) on...
    As the coronavirus pandemic contributes to a glut of fossil fuels, groups like Greenpeace are calling on Democratic presidential candidate Joe Biden to ban fossil fuel interests from his campaign and administration, if he wins, even as he recently declared at a campaign stop that he “will not ban fracking.” We discuss the politics of fossil fuels with reporter Antonia Juhasz, who says the end of oil could be near, and look at how the industry has profited from the COVID bailout. “The pandemic has taken essentially every weakness that already existed in the oil industry and then made each of them much, much worse, leaving the oil industry in a situation where I would argue it is at its weakest since its inception,” she says. This is a rush transcript. Copy may not be in its final form. AMY GOODMAN: Longtime Massachusetts senator and Green New Deal champion Ed Markey won his primary against challenger Congressmember Joe Kennedy III Tuesday, marking a victory for progressives and the first time a Kennedy has lost an election in the state...
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