Uncategorized

Bloomberg Europe can reduce energy dependence on Russia quicker than previously estimated, Mario Draghi said in an interview with Corriere della Sera. “Diversification is possible and feasible relatively quickly, shorter than we imagined just a month ago,” the Italian prime minister said after reaching an agreement to increase gas imports from Algeria. “We have gas in storage and will have …

  Bloomberg China is set to install a record amount of wind and solar power capacity this year as the country strives to meet climate goals while reducing its reliance on the rest of the world for energy. China will add 140 gigawatts of capacity from the clean energy sources, said Tao Ye, a researcher with the National Development and …

  Bloomberg The majority of China’s massive desert renewable power project will be built after 2025, and most of the capacity in the first phase will come from solar, according to a researcher from the country’s largest grid operator. The details fill in some gaps about the country’s plans to build 455 gigawatts of wind and solar power across the …

Bloomberg A group of Gazprom PJSC companies temporarily under the control of the German government will not return to the ownership of the Russian gas giant, according to the group’s trading unit. Gazprom views the separation as permanent and has already asked the companies to stop using its branding and trademarks, London-based Gazprom Marketing & Trading said in an email …

Bloomberg The average price of a Toronto home dipped in March as a slight cooling of activity allowed the pace of new listings to close the gap with sales, even as the market remained heavily tipped in sellers’ favour compared with historic standards. The average home price in Canada’s largest city dipped 2.6% to just under C$1.3 million in March …

Bloomberg South Africa’s Eskom Holdings SOC Ltd is scrutinising contracts to buy power from a government program for private developers to quickly bring on board additional generation. The state-owned utility started scheduled power cuts for the first time in almost a month, cutting 2,000 megawatts from the grid. That was due to breakdowns that affected a range of units, including …

  Bloomberg Benchmark European natural gas prices declined for a seventh consecutive session, with Russian flows to the continent continuing while the war in Ukraine grinds on. Orders for Russian gas shipments via Ukraine edged higher, but remained below capacity, while the Yamal-Europe pipeline continued to flow eastward to Poland from Germany. Gas transiting Russia’s main pipeline link to Europe, …

  Bloomberg Japan will ban imports of Russian coal, Prime Minister Fumio Kishida said, in a bold policy shift that adds pressure on Moscow after the European Union announced its own embargo on the fuel. “Russia’s cruel and inhumane actions are coming to light one after another all over Ukraine,” Kishida told reporters in Tokyo, adding Moscow must be made …

Bloomberg The European Union is planning to propose a mandatory phaseout on coal imports from Russia in a direct response to reports that Russian forces committed apparent war crimes in Ukraine, according to people familiar with the matter. The action on coal would be added to a package of steps aimed at strengthening existing measures and correcting loopholes that was …

  Bloomberg The UK will detail plans to broaden its energy sources as the war in Ukraine, sanctions on Russia and a cost-of-living crisis forces countries across Europe to urgently revamp how they generate electricity and heat homes. The main focus will be on nuclear and wind power, two industries that haven’t been short of controversy. Government minister Grant Shapps …