Lithuania loses €1.5bn claim against Russia’s Gazprom

Lithuania has lost a €1.5 billion (£1.2bn) compensation claim against Russian energy giant Gazprom in a dispute over natural gas prices. According to Gazprom, the Arbitration Institute of the Stockholm Chamber of Commerce (SCC) “rejected all claims made by Lithuania” with respect to the terms of buying Russian gas. In 2012, Lithuania said it had […]

Fire drill-style tests in Europe planned to boost energy security

EU countries could carry out fire drill-style tests which simulate gas supply disruptions under new plans to check how well they can cope in a crisis. The “stress tests” idea was announced today by Commission President José Manuel Barroso and Energy Commissioner Günther Oettinger, as part of a new Energy Security Strategy. The tests would take […]

UK’s new gas field is “answer to Putin” – Fallon

Energy Minister Michael Fallon has told ELN he believes a new gas field cranking into gear soon is the UK’s “answer to Putin”. His reference to the Russian President comes after months of concern over future gas supply from Russia via Ukraine, prompted by tensions between the two nations. Speaking exclusively to ELN on the […]

Don’t dismiss Putin energy threat says Davey

Russian President Vladimir Putin’s threat to European energy supplies should be taken more seriously, UK Energy Secretary Ed Davey has said in a newspaper interview. The Lib Dem MP told the Independent yesterday: “The UK, Europe and the world need to take Putin’s aggression much more seriously. I think it’s of sufficient concern that we […]