Latest news with #energytrade
Reuters
2 days ago
- Business
- Reuters
Nepal begins first power exports to Bangladesh via India's grid
June 16 (Reuters) - Nepal has begun exporting 40 megawatts (MW) of electricity to Bangladesh through India's power grid in its first move into the international energy market and positioning India as a key facilitator of regional electricity trading. Nepal is also exporting 80 MW to Bihar state in India's east, Nepal's Energy Minister Dipak Khadka said on X on Sunday, adding that power exports had unlocked a 5,000 MW export market for the Himalayan nation. The power transaction follows a tripartite agreement signed in October between Nepal Electricity Authority, Bangladesh Power Development Board, and India's NTPC Vidyut Vyapar Nigam. India exports electricity to Nepal, Bangladesh and Myanmar, while importing power from Nepal and Bhutan and is discussing plans to integrate its grid with Sri Lanka. The development comes as Nepal rapidly expands its hydropower capacity, with Indian hydro power producer SJVN ( opens new tab currently developing the 900 MW Arun-3 project in Nepal's Sankhuwasabha district. In April, India's Power Grid Corporation ( opens new tab and Nepal Electricity Authority agreed to implement high-capacity cross-border transmission infrastructure to facilitate increased power trading. Nepal, which has installed capacity of more than 3,000 MW, with 95% hydro, has also been seeking Indian investment to boost its hydroelectric output and export surplus power to New Delhi.
Russia Today
24-05-2025
- Business
- Russia Today
German chancellor backs Nord Stream ban
German Chancellor Frederick Merz actively supports an EU plan to ban any use of the Nord Stream gas pipelines and wants to block any moves to revive energy trade with Russia, the FT reported on Friday. The move comes amid reports that Russia and the US are exploring ways to resume shipments through the still-intact line of Nord Stream 2, as part of broader efforts to normalize ties between Moscow and Washington. According to the FT, citing sources, Merz has opened talks in Berlin and Brussels to prevent any such developments, while potentially aiming to shift the burden of decision-making to the EU level. The Nord Stream 1 and 2 gas pipelines connecting Russia and Germany under the Baltic Sea have been inactive since 2022 due to EU sanctions and sabotage, which Russia insists was orchestrated by Western intelligence agencies. Earlier this month, European Commission President Ursula von der Leyen said the natural gas pipelines were part of the planned new 18th sanctions package against Russia. According to the FT, the restrictions would target Nord Stream 2 AG, the Switzerland-based entity that owns the pipelines, and any other companies that are necessary for their restart and operation. Florian Philippot, a prominent French Euroskeptic politician, has criticized the EU's proposal, calling it 'madness.' He warned that such a move would amount to a 'death sentence' for European industry. His remarks echoed broader concerns about the economic fallout from cutting ties with Russian energy. Following the 2022 sabotage and sanctions, European gas prices quadrupled compared to the previous year, placing immense strain on industry and consumers. Before 2022, Russia met up to 60% of Germany's demand for natural gas. The loss of an affordable supply resulted in production cuts and job losses across the country's industrial sector. In recent months, a growing number of German industrial leaders and politicians have advocated for the resumption of Russian gas imports. Christian Gunther, managing director of the Leuna chemical park in eastern Germany, told Reuters that affordable Russian gas is essential for reviving sectors like chemicals. Moscow has repeatedly stressed that it remains a reliable supplier and is ready to negotiate restarting gas exports to the continent.
Russia Today
23-05-2025
- Business
- Russia Today
German chancellor backs ban on Nord Stream
German Chancellor Frederick Merz actively supports an EU plan to ban any use of the Nord Stream gas pipelines and wants to block any moves to revive energy trade with Russia, the FT reported on Friday. The move comes amid reports that Russia and the US are exploring ways to resume shipments through the still-intact line of Nord Stream 2, as part of broader efforts to normalize ties between Moscow and Washington. According to the FT, citing sources, Merz has opened talks in Berlin and Brussels to prevent any such developments, while potentially aiming to shift the burden of decision-making to the EU level. The Nord Stream 1 and 2 gas pipelines connecting Russia and Germany under the Baltic Sea have been inactive since 2022 due to EU sanctions and sabotage, which Russia insists was orchestrated by Western intelligence agencies. Earlier this month, European Commission President Ursula von der Leyen said the natural gas pipelines were part of the planned new 18th sanctions package against Russia. According to the FT, the restrictions would target Nord Stream 2 AG, the Switzerland-based entity that owns the pipelines, and any other companies that are necessary for their restart and operation. Florian Philippot, a prominent French Euroskeptic politician, has criticized the EU's proposal, calling it 'madness.' He warned that such a move would amount to a 'death sentence' for European industry. His remarks echoed broader concerns about the economic fallout from cutting ties with Russian energy. Following the 2022 sabotage and sanctions, European gas prices quadrupled compared to the previous year, placing immense strain on industry and consumers. Before 2022, Russia met up to 60% of Germany's demand for natural gas. The loss of an affordable supply resulted in production cuts and job losses across the country's industrial sector. In recent months, a growing number of German industrial leaders and politicians have advocated for the resumption of Russian gas imports. Christian Gunther, managing director of the Leuna chemical park in eastern Germany, told Reuters that affordable Russian gas is essential for reviving sectors like chemicals. Moscow has repeatedly stressed that it remains a reliable supplier and is ready to negotiate restarting gas exports to the continent.
