Energy

  Bloomberg German utility EnBW Energie Baden-Wuerttemberg AG agreed to import liquefied natural gas (LNG) and green ammonia for 25 years as the country substitutes lower Russian supplies. The company signed a long-term capacity booking for 3 billion cubic meters of LNG per year at a terminal in the northern town of Stade, EnBW’s trading executive director Peter Heydecker said ...

  Bloomberg European natural gas prices jumped for a third session as a blast of unusually cold weather across the northern half of the continent tests its resilience to a historic energy crisis. Benchmark futures surged 6.5% after settling at the highest level since mid-October. From London to Latvia, temperatures are set to drop below freezing in the coming days ...

Bloomberg The world’s biggest oil producers are spending billions of dollars on fossil fuel projects that will only be needed if the world misses key climate goals, according to Carbon Tracker, a non-profit think tank. Companies invested $58 billion in oil and gas projects in 2021 and 2022 that will only be required if fossil fuel demand grows to a ...

  Bloomberg Oil snapped a four-day drop amid an outage on a major US pipeline and optimism over China’s reopening. West Texas Intermediate climbed as much as 4.8% in New York, surpassing $75. The Keystone oil pipeline, which can haul more than 600,000 barrels a day of crude from Canada into the US, was halted after spillage into a creek. ...

  Bloomberg Northern Europe faces freezing temperatures for the next two weeks, with an expected jump in heating demand adding pressure to the region’s stretched energy systems. Nordic countries will feel the brunt of the cold snap, with a low of -9.5C (14.9F) in Oslo expected next Tuesday, forecaster Maxar Technologies Inc. said in a report. Arctic air will also ...

  Bloomberg NRG Energy Inc agreed to buy Vivint Smart Home Inc for $2.8 billion to accelerate the US power producer’s strategy of diversifying from its core electricity-generation business by focusing on retail consumers. Vivint, based in Provo, Utah, sells smart thermostats, locks, lights and other household devices. NRG said on Tuesday it will pay $12 a share in cash ...

  Bloomberg German Economy Minister Robert Habeck began a five-day trip to Namibia and South Africa Sunday, part of a push to secure new energy resources for Europe’s biggest economy to compensate for the cut-off from Russian gas supplies. During his first stop in the Namibian capital Windhoek, Habeck, who’ll be accompanied by a delegation of 24 German business leaders, ...

  Bloomberg Energy grid companies in the UK will have £22.2 billion ($26.6 billion) to spend on beefing up local networks as the nation’s green shift requires increasing electrification. While a huge sum, it’s 12% less than the six main network companies had proposed. The budget will cover everything from service and maintenance to upgrades on 14 local grids for ...

  Bloomberg Energy regulator Ofgem will raise its price cap for the average UK home by 21% to £4,279 ($5,173) from January, underscoring the growing gap the government has to plug to maintain its price freeze. The UK has been subsidising Ofgem’s price cap since October in an attempt to shield households from the worst energy crisis in decades. That ...

  Bloomberg The European Union (EU) paused efforts to approve a package of emergency measures to curb the fallout from high natural gas prices as member states struggled to resolve a deep split over a push to cap the cost of gas. Energy ministers holding an extraordinary meeting in Brussels agreed on the content of several emergency measures, but will ...