Saudi-Iran Spat Over Drone Attacks Fuel Oil Prices

Saudi-Iran Spat Over Drone Attacks Fuel Oil Prices

Increased tensions in the Middle East have fuelled oil prices this week. On 16 May, crude oil prices increased more than 1% as a Saudi-led coalition launched air strikes in retaliation for recent attacks on its crude infrastructure.

Vella Calls for the Implementation of EU Environmental Laws

Vella Calls for the Implementation of EU Environmental Laws

Full implementation of EU environmental legislation could save the EU economy around €55 billion every year, EU Environment, Maritime Affairs and Fisheries Commissioner Karmenu Vella said in Brussels, citing a recent Commission report.

Sweden: Northvolt’s Battery Gigafactory to be Supported by EIB

Sweden: Northvolt’s Battery Gigafactory to be Supported by EIB

The European Investment Bank has given its agreement in principle to support the financing of Europe’s first home-grown gigafactory for lithium-ion battery cells, Northvolt Ett, in Sweden. The EIB’s financing commitment is foreseen to be €350 million.

Production Starts Up at Cameron LNG Export Terminal in Louisiana

Production Starts Up at Cameron LNG Export Terminal in Louisiana

The Cameron LNG project has achieved first liquefied natural gas (LNG) production from train 1, French energy major Total said on 14 May. The second-largest private global LNG player, Total said the $10 billion Cameron Liquefied Natural Gas (LNG) export facility in Cameron Parish, Louisiana, would begin exports in the coming weeks.

US Sanctions Take Toll on Iran as EU Comes Closer to Backing Washington

US Sanctions Take Toll on Iran as EU Comes Closer to Backing Washington

The US’ economic sanctions appear to be taking a toll on Iran as an increasing number of EU nations are beginning to comply with Washington’s policy of economically isolating the Islamic Republic in an effort to halt Tehran’s aggressive policies in the Middle East and its support for terror organisations.

EIB Loan to Finance Power Cable Between Crete and Mainland Greece

EIB Loan to Finance Power Cable Between Crete and Mainland Greece

The Greek island of Crete took a step closer towards energy independence and cutting CO2 emissions on 9 May, following a deal between Greece’s Independent Power Transmission Operator (IPTO or ADMIE) and the European Investment Bank (EIB) with the latter agreeing to provide a €178 million loan to finance an underwater cable power interconnector between Crete and the Peloponnese.

Europe Should Lead on Climate Action

Europe Should Lead on Climate Action

Since the massive mobilization effort that preceded the 2009 Conference of the Parties (COP15) in Copenhagen, the world has begun translating words and intentions into real action on climate change. European leadership – from government, civil society, and business – has played a pivotal role in driving progress. Given how much remains to be done, such leadership must continue – and become stronger.

CO2 Emissions in the EU Down in 2018

CO2 Emissions in the EU Down in 2018

Carbon dioxide emissions from fossil fuel combustion significantly decreased in the European Union by 2.5% over the course of 2018, according to early estimates from Eurostat, the statistical office of the EU.

Italy’s ENI Plans Photovoltaic Plant in Tunisia

Italy’s ENI Plans Photovoltaic Plant in Tunisia

Italian energy major ENI inaugurated on 3 May in Tataouine, in the south of Tunisia, the construction site for a photovoltaic plant with an installed capacity of 10 MW.

US Boosts LNG Supplies to the EU, Aiming to Reduce Reliance on Russia

US Boosts LNG Supplies to the EU, Aiming to Reduce Reliance on Russia

The increased exports of American liquefied natural gas (LNG) to Europe will decrease the European Union’s reliance on Russia and boost EU energy security, former Member of the European Parliament Niki Tzavela, who served in the energy and EU-US relations committees, told New Europe in an interview on 2 May.

EU, France and Germany Discuss Energy Innovation Cooperation

EU, France and Germany Discuss Energy Innovation Cooperation

European Commission Vice-President Maroš Šefčovič, German Federal Minister for Economic Affairs and Energy Peter Altmaier, and French Economic Affairs and Finance Minister Bruno Lemaire met in Paris on 2 May to discuss cooperation in energy innovation.

Floating Nuclear Plant to Begin Commercial Operations in Russia

Floating Nuclear Plant to Begin Commercial Operations in Russia

Russia’s floating nuclear power unit (FPU) Akademik Lomonosov is now ready to start commercial operations in Russia, Rosatom State Atomic Energy Corporation has said, following a series of successful and comprehensive tests, including on its twin KLT-40 reactor system.