{"id":558084,"date":"2021-09-23T13:36:25","date_gmt":"2021-09-23T13:36:25","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/europes-gas-debacles-seem-to-only-get-worse\/"},"modified":"2021-09-23T13:36:25","modified_gmt":"2021-09-23T13:36:25","slug":"europes-gas-debacles-seem-to-only-get-worse","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/europes-gas-debacles-seem-to-only-get-worse\/","title":{"rendered":"Europe\u2019s gas debacles seem to only get worse"},"content":{"rendered":"

<\/a> The latest in the European natgas crisis blame game: <\/strong>The International Energy Agency (IEA) has said<\/a> that Russia should increase its supply of natural gas to Europe, as skyrocketing prices threaten a winter energy crisis across the continent. The IEA \u2014 which is payrolled by mostly Western nations to advise and intervene on energy supply \u2014 said that while Russia had fulfilled its contractual obligations to Europe, it could make more natgas available to alleviate the current squeeze. \u201cThis is also an opportunity for Russia to underscore its credentials as a reliable supplier to the European market,\u201d it added.<\/p>\n

Turning up the heat on Russia:<\/strong> Greedy energy companies, increased orders from Asia, and the switch to renewables have all been blamed for shortages<\/a> that have seen gas prices break records on the daily. But despite murmurs that Russia is withholding supply to force through a quick agreement on its new Nord Stream 2 gas pipeline to Europe, official fingers have until now been reticent to point the Kremlin\u2019s way. A Sciences Po professor and former oil and gas adviser at the French economy ministry said the IEA was \u201chighlighting what has been discussed in the industry for some time but many politicians in Europe have been hesitant to address \u2014 the role Russia has played in the current energy crisis.\u201d<\/p>\n

The US jumped at the chance to play hero<\/strong>, vowing to \u201cstand up to\u201d suppliers accused of manipulating prices, US energy secretary Jennifer Granholm said in a press briefing<\/a>. The US will keep an eye on any possible manipulation of gas prices by hoarding or the failure to produce adequate supply, she added.<\/p>\n

OPEC doubled down on blaming climate activists<\/strong> for the crisis, calling for increased investment in fossil fuels: \u201cEmotions have overtaken industry facts,\u201d OPEC Secretary-General Mohammad Barkindo said on a panel with the Emirati and Qatari energy ministers, reports Bloomberg<\/a>. \u201cCivil society and climate activists have taken over the space. Activist shareholders have held the industry nearly to ransom.\u201d<\/p>\n

And Europe prayed for a mild winter: <\/strong>The head of Vitol, the world\u2019s biggest oil trader, said \u201cmarkets are frantic and panicky at the moment,\u201d adding that a warm winter in the northern hemisphere could be the only way to calm the volatility. The executive vice president of a French energy firm agreed: \u201cLittle can be done \u2026 We hope the start of the winter will not be too cold in the northern hemisphere. Otherwise, we are in trouble.\u201d<\/p>\n

The natgas crisis is leading to other problems as well, including shortages in CO2 and other gases: <\/strong>The carbon dioxide shortage taking place in the UK will spill over into Europe, distributor Nippon Gases tells the Financial Times<\/a>, pointing to its supplies falling 50% across the region. Fertilizer companies are the main source of CO2, but rising natural gas prices have forced many to suspend or lower operations. The CO2 shortages are affecting sectors from soft drinks and meat to steel and nuclear power plants.<\/p>\n

We don\u2019t want to keep harping on the point, but Russia really isn\u2019t the only place where Europe could get gas.<\/strong> The East Mediterranean is swimming in it, and the region\u2019s countries have gotten together to coordinate on the East Mediterranean Gas Forum<\/a> with Cairo as the location of its HQ. Egypt\u2019s liquefaction plants, the only ones in the region, are due to receive<\/a> gas from Israel\u2019s Leviathan field and steps are being taken<\/a> that would see gas from Cyprus\u2019 Aphrodite field being liquified here.<\/p>\n","protected":false},"excerpt":{"rendered":"

The latest in the European natgas crisis blame game: The International Energy Agency (IEA) has said that Russia should increase its supply of natural gas to Europe, as skyrocketing prices threaten a winter energy crisis across the continent. The IEA \u2014 which is payrolled by mostly Western nations to advise and intervene on energy supply […]<\/p>\n","protected":false},"author":1,"featured_media":558085,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9272],"tags":[682,633,297,3528,3524,128,270,1510,117],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-558084","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-macro-picture","tag-carbon-footprint","tag-enterprisepm","tag-europe","tag-gastec","tag-nippon-gases","tag-opec","tag-russia","tag-the-macro-picture","tag-us","wpautop","entry"],"acf":{"mongo_id":"8294ecc4-07f7-483c-87a8-be0f5223f0eb","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/9\/572.jpg","photo_position":"above","related_issue":[558075],"teaser":"","voice_url":""},"yoast_head":"\nEurope\u2019s gas debacles seem to only get worse - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/europes-gas-debacles-seem-to-only-get-worse\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Europe\u2019s gas debacles seem to only get worse\" \/>\n<meta property=\"og:description\" content=\"The latest in the European natgas crisis blame game: The International Energy Agency (IEA) has said that Russia should increase its supply of natural gas to Europe, as skyrocketing prices threaten a winter energy crisis across the continent. 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Oil Minister Tarek El Molla and El Zawati had signed last month a natural gas sale and purchase agreement under which Egypt will supply 250\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":545084,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/02\/the-ukraine-war-is-forcing-a-rethink-of-energy-supply-markets\/","url_meta":{"origin":558084,"position":1},"title":"The Ukraine war is forcing a rethink of energy supply markets","author":"enterpriseam admin","date":"2 March 2022","format":false,"excerpt":"The EU is preparing to redraw its energy supply map as war rages in Ukraine. Europe is reliant on Russia for around a third of its natural gas \u2014 but given Russian President Vladimir Putin\u2019s new status as an out-and-out warmonger, the bloc is now looking to change that state\u2026","rel":"","context":"In "Macro picture"","block_context":{"text":"Macro picture","link":"https:\/\/enterpriseam.com\/egypt\/category\/explainers\/macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/415.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":565950,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/18\/iea-calls-for-halting-new-oil-and-gas-exploration-projects\/","url_meta":{"origin":558084,"position":2},"title":"IEA calls for halting new oil and gas exploration projects","author":"enterpriseam admin","date":"18 May 2021","format":false,"excerpt":"The International Energy Agency (IEA) is calling for an end to new oil and gas exploration to achieve net zero carbon dioxide emissions by 2050 and meet the Paris Agreement goals, the IEA said in its Net Zero by 2050 roadmap for the energy sector.This is a pretty big rethink\u2026","rel":"","context":"In "THE MACRO PICTURE"","block_context":{"text":"THE MACRO PICTURE","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":623239,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/23\/egypts-enppi-and-petrojet-complete-60-of-jordan-natgas-network-expansion\/","url_meta":{"origin":558084,"position":3},"title":"Egypt\u2019s Enppi and Petrojet complete 60% of Jordan natgas network expansion","author":"enterpriseam admin","date":"23 October 2018","format":false,"excerpt":"State energy companies Enppi and Petrojet have completed 60% of a project to expand the natural gas network in Jordan, Oil Minister Tarek El Molla said, according to Ahram Online. The two companies are expected to inaugurate the project in October 2019. We had previously noted that Enppi and EGAS\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":548885,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/25\/israeli-natgas-exports-surge-in-1h-2022\/","url_meta":{"origin":558084,"position":4},"title":"Israeli natgas exports surge in 1H 2022","author":"enterpriseam admin","date":"25 August 2022","format":false,"excerpt":"All the more gas for us to liquefy: Israeli natgas exports surged 35% y-o-y in the first six months of the year as production increased at its two biggest fields in the eastern Mediterranean, Bloombergreports. Israel exported some 4.59 bn cubic meters (bcm) during the period as production surged 22%\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/392.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":654252,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/30\/egypt-gas-to-help-supply-jordans-quweira-industrial-zone-with-natgas\/","url_meta":{"origin":558084,"position":5},"title":"Egypt Gas to help supply Jordan\u2019s Quweira Industrial Zone with natgas","author":"enterpriseam admin","date":"30 October 2024","format":false,"excerpt":"The project should be completed in 11 months","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2645.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/558084","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=558084"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/558084\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/558075"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/558085"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=558084"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=558084"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=558084"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=558084"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=558084"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}