It’s Friday and we have the top five stories from the past seven days ready!
Will China spark another energy crisis in Europe?
Whilst we are not necessarily out of the current energy crisis, it looks like Europe may have to brace itself for another supply crisis as China is set to re-enter the global LNG customer base. Our editor-in-chief investigates China’s post-coronavirus economic recovery and its impact on Europe’s energy imports, providing an assessment of the European energy market compared to its competitors in Asia. Read the full article here.
Europe is ready to stand united with the US, despite concerns over the Inflation Reduction Act
This week, the Swiss town of Davos hosts the world’s leaders and the biggest business and finance representatives at the World Economic Forum. For the President of the European Commission, Ursula von der Leyen, this was a key opportunity to highlight the EU’s position on the controversial US Inflation Reduction Act. Whilst Ms von der Leyen made her concerns about the Act clear, a close partnership with Washington appears to be key for Brussels in countering Beijing’s growing influence in the global cleantech industry. Read the full article here.
Pipeline explosion in Lithuania – an attack or a rapture?
Landing back in Central and Eastern Europe, the explosion of a pipeline in Lithuania appears not to have had a major impact on the regional security of supply. According to a preliminary assessment, the explosion was caused by “technical reasons” – however, a full investigation is ongoing, which we will be covering closely. Read the full article here.
Serbia set for closer energy cooperation with UAE
Serbia and the United Arab Emirates have agreed to a closer partnership in developing hydrogen technology and other renewable energy sources, following a meeting between the Serbian Minister of Mining and Energy, Dubravka Đedović and the Minister of Energy and Infrastructure of the United Arab Emirates, Suhail Al-Mazrouei in Abu Dhabi. Read the full article here.
MET Group secures regasification capacity at the newly opened LNG terminal in Germany
Despite the brewing Chinese threat on the horizon, Europe’s LNG infrastructure and imports continue to grow at an unprecedented pace. The Swiss-based MET Group has secured new binding long-term LNG capacities at Deutsche ReGas’ floating LNG terminal in Lubmin, which was officially inaugurated earlier this week in the presence of the German Chancellor, Olaf Scholz. As Germany continues to distance itself from Russia’s pipeline natural gas, it will be interesting to see how Berlin’s partnership with Beijing will be shaped amid a tightened global supply of LNG carriers. Read the full article here.