In a bold move, the US government has placed sanctions on two Indian companies for their alleged involvement in Russia’s massive Arctic LNG 2 project, which is part of the country’s major efforts to produce liquefied natural gas (LNG). These sanctions, announced on Thursday, target the Mumbai-based companies Gotik and
In recent years, Algeria, a country in North Africa once ruled by France, has made a big splash in Europe’s energy scene. Here’s how this former French colony is now holding the reins on Europe’s gas supply and what that means for the continent. Algeria’s Rising Power Back in 2022,
Gas prices in Europe are rising, and it’s making Russia richer, which could deepen the financial gap between what Europe pays Russia for energy and what it gives Ukraine in aid. This increase in prices comes after Ukraine’s recent military action in the Russian region of Kursk, where a major
A top African energy advocate is accusing Western banks of unfairly discriminating against African oil and gas projects, calling it “financial apartheid.” NJ Ayuk, chairman of the African Energy Chamber, claims that while Western countries enjoy investments in their energy sectors, African nations are being denied similar support due to
Russia is making big moves in the Arctic, expanding its oil and gas operations despite global sanctions from its invasion of Ukraine. A new 300-foot extension to a massive hangar in the Arctic highlights Russia’s push to use the Northern Sea Route (NSR) for shipping oil and gas to China.
Russia is secretly amassing a “dark fleet” of tankers to ship its LNG, mirroring the shadow fleet it created for oil exports to dodge Western sanctions. Bloomberg reveals that obscure shipping firms from Dubai have acquired several LNG vessels, with some already approved to navigate Russia’s Arctic routes. This stealthy
China’s Wison New Energies recently announced a sudden halt to their Russian projects, citing strategic concerns for their company’s future. This decision, made in response to US sanctions on Russia’s LNG industry, includes backing out of constructing crucial modules for Russia’s Arctic LNG 2 project. This project is pivotal for
Russia will begin year-round LNG shipments via the Arctic route of the NSR, a transit route spanning the entire length of Russia’s Far East and Arctic territories within its exclusive economic zone. Sergey Zybko, the head of the Northern Sea Route (NSR) operator, revealed this week that Moscow intends to
Sefe’s CEO, Egbert Laege, announced that Germany has signed a long-term deal with the U.S. to replace Russian gas with LNG from Venture Global LNG. Germany’s state-controlled firm Securing Energy for Europe (Sefe) has signed a 20-year deal with Venture Global LNG to import 2.25 million tons of LNG per year from