Monday, May 23

Tag: utilities

Europe’s Push to Cut Russian Gas Faces a Race Against Winter | Business News
Business

Europe’s Push to Cut Russian Gas Faces a Race Against Winter | Business News

While Europeans bask in the warmth of spring, governments are in a race against winter.Europe is trying to cut use of Russian natural gas because of the war in Ukraine, but still find enough fuel to keep the lights on and homes warm before it gets cold again.That has sent officials and utilities racing to fill underground storage with scarce supplies of natural gas from other producers — competition that further raises already high prices as utility bills and business costs soar. Italy has announced new supplies from Algeria, while Germany has outlined an energy partnership with Qatar, a major supplier of liquefied gas that arrives by ship.While those deals offer a long-term boost, they likely will have little impact on the crucial winter supplies that will be decided in the next several m...
Europeans Weigh Costs of Cutting Russian Energy Over Ukraine | Business News
Business

Europeans Weigh Costs of Cutting Russian Energy Over Ukraine | Business News

By COLLEEN BARRY, VESELIN TOSHKOV and JUSTIN SPIKE, Associated PressMILAN (AP) — Across Europe, rising energy prices are testing the resolve of ordinary consumers and business owners who are caught between the continent’s dependence on cheap Russian energy and its revulsion over President Vladimir Putin's invasion of Ukraine.Governments are trying to replace energy supplies from Russia, mindful that their regular payments are funding a war that has seen thousands of civilian deaths and widespread destruction. They also face a nerve-wracking showdown with Moscow over its demands for payments in rubles, and the possibility that Russia will block supplies, as it did to Bulgaria and Poland last week.European Union countries import 40% of gas and 25% of oil from Russia, and the current EU timet...