February 26, 2016: Russia losing dominance in Europe.
November 30, 2014: large German utility to get out of conventional energy, concentrate on renewable energy:
German utility company E.ON SE says it plans to spin off its nuclear, oil, coal and gas operations to focus on renewable energy and power distribution.
E.ON said in a statement late Sunday that the new strategy will see it quit conventional power generation, global energy trading, exploration and production.
The move comes against the backdrop of Germany's plan to shut down all nuclear plants by 2022 and ramp up power generation from renewable sources.
E.ON, which is struggling with massive debts, also says it expects to book a 4.5-billion euro ($5.62 billion) charge on its operations in southern Europe this year. The company says it will sell its businesses in Spain and Portugal to Australian investment firm Macquarie for 2.5 billion euros ($3.12 billion).November 30, 2014: Germany goes brown.
October 4, 2014: Germany's energy policy -- a Rube Goldberg cartoon.
Original PostRigzone is reporting:
Russian gas exports to Europe in 2013 jumped 16 percent year on year to reach a record high of 161.5 billion cubic metres, preliminary data from Gazprom Export showed on Monday, as shipments from Norway and other sources decreased.
Europe, where the Kremlin-controlled company meets a quarter of gas demand, is a source of over 50 percent of Gazprom's revenues, which stood at almost $56 billion in 2012. Gazprom's previous record high for exports to Europe was 159 bcm hit in 2008, just before a global financial crisis hit.I track Europe's big energy issues here.