Europe saved $8 billion on its natural gas bill last year because surging U.S. s...
LONDON - Europe saved $8 billion on its natural gas bill last year because surging U.S. shale production and a shake-up in EU energy markets forced Russia to change its gas pricing mechanism, the head of the International Energy Agency said on Friday.
He said the shift in global gas markets stemming from the U.S. shale gas revolution, a rapid expansion of the liquefied natural gas industry and EU liberalization of energy markets, had forced Russia to change its oil-indexed pricing of gas. “If there were a full adoption of the EU Directive, we could see more LNG to Central Europe where prices are $0.50 per mmBtu higher than TTF. This would lead to an additional $1.3 billion a year in savings,” he said.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WorkRamp Raises $8 Million Series A To Expand Employee Training PlatformForbes Under 30 WorkRamp, the San Francisco employee onboarding and training platform, announced today that it has raised an $8 million Series A, led by University of California-backed Bow Capital.
Read more »
The Real Difference Between Cheap and Pricey Beauty ProductsWith a new influx of skin care products at extreme price points, the psychology of why we buy what we buy has never been more complex. A peek into the mind-vanity connection.
Read more »
Russia's pivot towards China could damage ties with Europe, Belgium's top official saysRussia's blossoming relationship with China could be a mixed blessing.
Read more »
Trump's UK state visit fuels far-right in UK and EuropeIf Trump’s royal invitation to the UK was meant to stir political tensions, it seems the US president has done a good job.
Read more »
Ford Europe Plans To Close British Engine PlantFord Motor Co’s loss-making European subsidiary said it is starting talks with unions about shutting an engine plant in Wales next year as part of its reconstruction plans to restore profitability. The factory, in Bridgend, Wales, employs about 1,700.
Read more »