This tiny Baltic nation is set to complete Europe’s first new liquefied natural gas project since Russia set off a race for energy security with its invasion of Ukraine.
A long-term switch to more renewable sources has been overtaken by a short-term scramble to stave off a crisis.
Local leaders find themselves at the front line of Europe’s conservation efforts, fearing a Russian gas cut. It’s not an easy place to be.
Holding together despite some nations’ dependence on Russia, the European Union agreed to make voluntary savings mandatory if the Kremlin suddenly decides to turn off the taps over its invasion of Ukraine.
On the eve of a European Union meeting to debate a gas conservation plan to make the bloc less vulnerable to a Russian squeeze, Moscow slashed the flow to Germany.
Gazprom, Russia’s state energy giant, said it would halve the amount of gas it sends to Germany through the Nord Stream 1 pipeline, bringing it down to 20 percent of capacity.
The German government agreed to acquire a 30 percent stake in the company, one of the country’s largest suppliers of natural gas, and expanded a crucial credit line.
Russia is again sending natural gas through the Nord Stream 1 pipeline to Germany, but nobody knows how much and how long the fuel will flow.
The routine summer practice of filling Europe’s natural gas tanks has become a battle after Russia cut deliveries by more than half.
Rising oil prices more than offset a decline in export volumes during the first 100 days of the assault on Ukraine.
The war has evolved into something of a stalemate that has seriously depleted Russia’s conventional war capabilities, even as it has made some gains.
Poland’s gas storage facilities are 75 percent full, and it has been working for years to avoid being held to ransom by Moscow over energy.
The market reaction underscored that a dreaded moment in the war had arrived: the severe disruption of Russian natural gas exports to the E.U.
Poland gets more than 45 percent of its natural gas from Russia, most of it through a single pipeline that will no longer make deliveries to the country.
Gerhard Schröder, who is paid almost $1 million a year by Russian-controlled energy companies, has become a pariah. But he is also a symbol of Germany’s Russia policy.
Dangerously dependent on Russian gas, Germany is still refusing to cut off President Putin, whose war it is effectively subsidizing to the tune of some $220 million a day.
Under increasing pressure to sever the country’s reliance on Russian energy, German officials must contend with deeply rooted economic ties.
Although tiny, Lithuania is the largest economy in the Baltic States and a eurozone member, giving the decision significance to European nations. “If we can do it, the rest of Europe can do it too,” the president said.
A Soviet-era pipeline, opposed by the president but supported by the oil and gas industry, set up the dependency that today helps fund the Russian assault on Ukraine.
The ruble plunged, the stock market was shuttered and foreign investors shed holdings in Russian companies, deepening the concern among citizens who had become accustomed to the perks of globalization.
Moscow relies on the money it makes by selling oil and gas, but that energy fuels Europe’s economy and heats its homes.
An increasingly belligerent Russia, an energy crunch and a new Green minister of economics all add up to a change of direction in Germany’s policy on natural gas.
The Hungarian leader made his name by defying Moscow. But he has increasingly turned toward Russia in an effort to secure the natural gas he needs to keep energy prices low and voters happy.
Germany’s allies have begun to question what price Berlin is prepared to pay to deter Russia, and even its reliability as an ally, as it wavers on tough measures.
Europe is a huge customer of Russia’s fossil fuels. Gas from the U.S. and elsewhere is helping offset fears of a midwinter cutoff.
The Nord Stream 2 Russia-to-Germany pipeline could offer plentiful natural gas. But tensions with Vladimir Putin are keeping it out of reach.
A letter signed by more than 1,100 employees has called for change at the consulting firm, which has advised at least 43 of the 100 most environmentally damaging companies.
President Vladimir V. Putin long dismissed the threat posed by global warming. But fires, disasters and foreign pressure have prompted him to change course.
In his most direct comments to date on the contentious Russian pipeline, President Vladimir V. Putin called it an “obvious” way to relieve Europe’s soaring natural gas prices.
Critics claim Russia is manipulating the flow of gas to push up prices, but for Vladimir Putin it’s schadenfreude over Western European nations that he sees as unprepared.
Britain and the rest of Europe are watching natural gas prices and utility bills soar, and Russia is coming under pressure to provide more gas.
Crimped supplies and increased demand have pushed energy prices to their highest in years, raising concerns about the winter.
The new president’s vow to restore the trans-Atlantic alliance is welcome, but Europeans want a more balanced relationship, with more dialogue and less diktat.
It’s not just party balloons. A huge Siberian production plant is expected to reshape the market for a gas that’s essential to many critical industries.
Aleksandr G. Lukashenko, who used to call his political foes stooges of the West, is now trying to play on anti-Russian sentiment at home and abroad.
For nations reliant on oil sales, the combination of the price collapse and the coronavirus pandemic has created new threats of poverty and political instability from Iraq to Venezuela.