Latest news with #EnergyPolicy
Bloomberg
21-05-2025
- Business
- Bloomberg
EU Eyes Trade Tools to Ban Russian Gas
Welcome to the Brussels Edition, Bloomberg's daily briefing on what matters most in the heart of the European Union. Ever since the European Commission put forward its plan to ban Russian gas imports by the end of 2027, officials and companies from the EU's 27 member states have been scratching their heads over what tool they would use to make that a reality. Straight sanctions were taken off the table due to their unanimity requirement, with both Hungary and Slovakia staunchly opposed. Instead, we've learned that the bloc is likely to prohibit supplies via a quota set to zero, effectively a trade measure that only requires a qualified majority. It would allow European buyers to invoke so-called force majeure to terminate agreements with Russian suppliers, we're told. As soon as it's put forward mid-next month, lawyers will be delving into the fine print to work out if it would allow European companies to walk away from their contracts with Moscow without paying penalties.
Time of India
13-05-2025
- Business
- Time of India
Russian coal reserves to last five centuries, sees vast potential for cooperation with India
Moscow: Russia's coal reserves are enough to meet demand for more than five centuries and the country sees vast potential for cooperation with India, Russian Energy Ministry Officials here have said. The new environment-friendly and safe coal mining hubs will provide up to 250 million tonnes of additional production capacity by 2025, Russian Energy Minister Alexander Novak said in an article. Russia is one of the leading coal suppliers to India by volume, Novak, who holds the rank of Deputy Prime Minister in the Russian cabinet, said. Russian coal production totalled 443.5 million tonnes in 2024, with 196.2 tonnes exported. In the article published in the latest issue of "Energy Policy" magazine, Novak writes that by 2050, the industry will be made up of high-tech, modern enterprises operating under strict environmental standards. "Installed coal-power generation capacity in Siberia and the Far East is expected to reach about 38 GW. We also plan to introduce 'clean coal' technologies and innovative coal mining approaches to develop a wide range of products for coal and coal-waste processing, as well as to boost the development of coal chemistry industries," he said and unveiled the plans for the development of coal industry in Russia. According to Russia's energy strategy which runs through 2050, the country's target for coal production in 2030 is 530.1 million tonnes, with a goal of 662 million tonnes by 2050. In 2024, coal output stood at 443.5 million tonnes. "Russia has a vast resource base and every opportunity to efficiently extract and use these reserves to reliably meet domestic demand and expand export supplies," Novak said. Russia has suggested signing an intergovernmental agreement to support imports of coking coal as well as establishing supply volumes for thermal coal. "Given the Indian steel industry's rising demand for coking coal, we see a lot of potential in the development of Russian-Indian cooperation in the coal sector," Energy Ministry's Coal Industry Director Pyotr Bobylev was quoted as saying by independent Interfax news agency. India signed a memorandum in 2021 which envisages boosting Russian coking coal supplies to India to 40 million tonnes by 2035.>
&w=3840&q=100)
Business Standard
12-05-2025
- Business
- Business Standard
Russia eyes long-term coal exports to India amid 500-year reserve boost
Russia is one of the leading coal suppliers to India by volume, Novak, who holds the rank of Deputy Prime Minister in the Russian cabinet, said Press Trust of India Moscow Russia's coal reserves are enough to meet demand for more than five centuries and the country sees vast potential for cooperation with India, Russian Energy Ministry Officials here have said. The new environment-friendly and safe coal mining hubs will provide up to 250 million tonnes of additional production capacity by 2025, Russian Energy Minister Alexander Novak said in an article. Russia is one of the leading coal suppliers to India by volume, Novak, who holds the rank of Deputy Prime Minister in the Russian cabinet, said. Russian coal production totalled 443.5 million tonnes in 2024, with 196.2 tonnes exported. In the article published in the latest issue of Energy Policy magazine, Novak writes that by 2050, the industry will be made up of high-tech, modern enterprises operating under strict environmental standards. Installed coal-power generation capacity in Siberia and the Far East is expected to reach about 38 GW. We also plan to introduce clean coal' technologies and innovative coal mining approaches to develop a wide range of products for coal and coal-waste processing, as well as to boost the development of coal chemistry industries, he said and unveiled the plans for the development of coal industry in Russia. According to Russia's energy strategy which runs through 2050, the country's target for coal production in 2030 is 530.1 million tonnes, with a goal of 662 million tonnes by 2050. In 2024, coal output stood at 443.5 million tonnes. Russia has a vast resource base and every opportunity to efficiently extract and use these reserves to reliably meet domestic demand and expand export supplies, Novak said. Russia has suggested signing an intergovernmental agreement to support imports of coking coal as well as establishing supply volumes for thermal coal. Given the Indian steel industry's rising demand for coking coal, we see a lot of potential in the development of Russian-Indian cooperation in the coal sector, Energy Ministry's Coal Industry Director Pyotr Bobylev was quoted as saying by independent Interfax news agency. India signed a memorandum in 2021 which envisages boosting Russian coking coal supplies to India to 40 million tonnes by 2035. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
CTV News
07-05-2025
- Politics
- CTV News
One-year property assessment freeze draws mixed reactions in N.B.
New Brunswick Premier Susan Holt speaks at a news conference in Fredericton on April 14, 2025, alongside Energy Minister René Legacy. (Nick Moore/CTV)
Reuters
07-05-2025
- Business
- Reuters
Slovakia rejects EU plan to phase out Russian gas by end-2027
May 7 (Reuters) - Slovakia rejects European Commission plans to phase out Russian gas and other energy imports, Prime Minister Robert Fico said on Wednesday, adding the measures were "in this form unacceptable" to the Slovak government and would impact EU energy prices. The EU executive had said on Tuesday it would propose legal measures next month to phase out EU imports of Russian gas and liquefied natural gas by the end of 2027. The plans also touch on oil and include trade measures targeting Russian enriched uranium for nuclear power that would amount to a tax or levy on imports. The move is part of the EU's pledge to end its decades-old energy relations with former top gas supplier Russia after its full-scale invasion of Ukraine in February 2022. Fico said he respected attempts to reduce energy dependence on third countries but the Commission's proposals would harm the EU, raising prices in the bloc and damaging its competitiveness. "This is simply economic suicide to go to the point where neither gas, nor nuclear, nor oil, everything must end just because some new Iron Curtain is being built between the Western world and perhaps Russia and other countries," Fico said. Slovakia would work for changes in the legislative process, he said. The Commission's legal proposals due in June will require approval from the European Parliament and a qualified majority of member states - meaning one or two countries cannot block the plans. Slovakia receives Russian gas and oil supplies and has argued with Ukraine over its decision at the end of the last year to halt gas flows from the east through its territory. Fico said there were questions over what would happen if Slovakia canceled its long-term contract with Russian supplier Gazprom. Around 19% of Europe's gas still comes from Russia via the TurkStream pipeline and LNG shipments, down from roughly 45% before 2022. Slovakia's ministry says 10 of the bloc's 27 members imported Russian gas last year. The EU has imposed sanctions on most Russian oil imports but not on gas due to opposition from Slovakia and Hungary, which receive Russian pipeline supplies and maintain closer ties with Russia.
