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☆ Russia's Nord Stream gas pipelines may have been sabotaged by pro-Ukraine group, report says
▼ + stars: | 2023-03-07 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

The Nord Stream pipeline explosions last year may have been the work of a pro-Ukraine group. A report in the New York Times on Tuesday cited new intelligence seen by US officials. US officials have reviewed data that indicates that the perpetrators were Ukrainian or Russian nationals and supportive of Kyiv, the report said. Gazprom, which owns the Nord Stream pipeline, saw its revenue halved as a result. Meanwhile, Russia recently decided to leave the pipelines in disrepair, effectively giving up on the European market for its gas exports.

☆ Chevron CEO says natural gas markets fundamentally changed by war
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +1 min

Companies Chevron Corp FollowHOUSTON, March 6 (Reuters) - The global natural gas market has been more fundamentally changed for the long term by Russia's invasion of Ukraine than the oil market, Chief Executive Mike Wirth on Monday said on Monday. The conflict in Ukraine and ensuing Western sanctions upended global oil and gas markets and disrupted supplies from Russia. Europe has turned away from dependence on Russian gas supplies and has no intention of changing that in the future, Wirth said in remarks at the CERAWeek energy conference. "Gas markets, I think, are structurally changed for the longest," Wirth said. That has left the oil market and logistics tight and vulnerable to any unexpected supply disruption, he added.

☆ CERAWEEK-Chevron CEO says natural gas markets fundamentally changed by war
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +2 min

Companies Chevron Corp FollowHOUSTON, March 6 (Reuters) - The global natural gas market has been more fundamentally changed for the long term than the oil market by Russia's invasion of Ukraine, Chevron Corp (CVX.N) Chief Executive Mike Wirth said on Monday. The conflict in Ukraine and ensuing Western sanctions upended global oil and gas markets and disrupted supplies from Russia. "Gas markets, I think, are structurally changed for the longest," Wirth said. That has left the oil market and logistics tight and vulnerable to any unexpected supply disruption, he added. A disorderly energy transition could be "painful and chaotic", Wirth said.

☆ North Korea's state media backs Russian call for probe into pipeline blast
▼ + stars: | 2023-03-04 | by ( ) www.reuters.com time to read: +1 min

Moscow has maintained, without providing evidence, that the West was behind the blasts that damaged the pipelines in September and has called for an international investigation. North Korea has publicly supported Moscow since Russia invaded Ukraine a year ago and expressed support for Russia's proclaimed annexation of parts of Ukraine, which most countries have rejected. The United States has accused North Korea of providing weapons to Russia as well. The ruptured Nord Stream pipelines are set to be sealed up and mothballed as there are no immediate plans to repair or reactivate them, sources familiar with the plans have told Reuters. Reporting by Josh Smith and Jihoon Lee Editing by Frances KerryOur Standards: The Thomson Reuters Trust Principles.

[1/5] The logo of Nord Stream AG is seen at an office building in the town of Vyborg, Leningrad Region, Russia August 22, 2022. Nord Stream 1 and Nord Stream 2, each consisting of two pipes, were built by Russia's state-controlled Gazprom to pump 110 billion cubic metres (bcm) of natural gas a year to Germany under the Baltic Sea. Three of the pipes were ruptured by unexplained blasts in September, and one of the Nord Stream 2 pipes remains intact. Engie (ENGIE.PA), Gasunie (GSUNI.UL) and Wintershall DEA (WINT.UL) (BASFn.DE) - stakeholders in Nord Stream AG, the operator of Nord Stream 1 - declined to comment. The similar-sized Nord Stream 2 had been completed in September 2021 as tensions with Russia were growing and ran in trouble as Germany's regulators refused to certify it.

☆ Paul Ryan didn't hesitate to blame Tucker Carlson when asked about the 'toxic sludge' and 'disinformation' on Fox News
▼ + stars: | 2023-03-02 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +3 min

Paul Ryan blamed Tucker Carlson for pushing toxic and racist content on Fox News. Ryan was asked why he, as a Fox board member, did not stand up to people spreading disinformation. During the interview, Sykes asked Ryan why he did not stand up to people at Fox News who pushed "toxic sludge, racism, disinformation, and attacks on democracy." "Donald Trump, sitting down at Mar-a-Lago, is convinced that you are pulling the strings at Fox News," Sykes said. Representatives for Ryan and Carlson at Fox did not immediately respond to Insider's requests for comment.

☆ UK issues export bans on every item used by Russia in war
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +2 min

LONDON, Feb 24 (Reuters) - Britain marked the one-year anniversary of the invasion of Ukraine by issuing more sanctions against Russia, including export bans on every item it has used on the battlefield and import bans of iron and steel goods. It will also ban the import of 140 goods including iron and steel products processed in third countries. "Trade sanctions are working. UK goods imports from Russia have fallen by 99%, since before the invasion, and goods exports to Russia have fallen by nearly 80%," Business and Trade Secretary, Kemi Badenoch, said. The meeting of G7 leaders and Zelenskiy is expected to discuss further sanctions on Russia.

☆ Putin's KGB past is key to grasping what he might do next in his failing Ukraine war, ex-spies say
▼ + stars: | 2023-02-24 | by ( John Haltiwanger | ) www.businessinsider.com time to read: +13 min

Putin's time in the KGB helps explain his worldview and brutal approach to warfare, ex-spies say. As Western intelligence agencies vie to stay two steps ahead of the Russian leader and get inside his head, peering into Putin's KGB past may offer clues on what he's thinking. "Putin's KGB background tells us a lot about how he thinks and how he sees the war. He is a creation of the KGB, and the KGB was a terrorist organization," John Sipher, a former CIA officer who served in Russia, told Insider. The Ukraine war has seen Putin and his propagandists make a series of assertions — ranging from plausible to preposterous — to justify Russia's unprovoked invasion of Ukraine.

☆ Putin's war in Ukraine brought chaos and change to the global energy market. These 4 charts show how the conflict transformed the oil and gas landscape.
▼ + stars: | 2023-02-24 | by ( George Glover | Zinya Salfiti | ) www.businessinsider.com time to read: +6 min

These four charts show how the war has changed global energy markets over the past year. Here are four charts that capture the most striking changes that took hold in oil and gas markets over the past year. Russia has found other oil buyersBut Russia has still managed to find other buyers for its oil. India too has aggressively ramped up its purchases of Russian oil and now imports 1.2 million barrels each day, according to Vortexa. "The natural gas market has become even more global as demand for liquefied natural gas continues to rise," said Ole Hansen, head of commodity strategy at Saxo Bank.

European gas prices rallied in the run-up to Moscow's invasion of Ukraine begun almost exactly a year ago and they leapt to record highs when Russia subsequently cut supplies of relatively cheap pipeline gas. Although European prices have eased to around 50 euros ($53) per megawatt hour (MWh) from last August's peak of more than 340 euros, they remain above historic averages. That was even when they had received significant levels of Russian gas on long-term contracts prior to the shut down of the Nord Stream pipeline to Germany in August. Nord Stream's closure drove up European gas prices, as well as liquefied natural gas (LNG) prices, which also hit record levels of around 70 million British thermal units (mmBtu), compared with around $16 now . That could be tricky as the fall in gas prices this year has reduced the incentive to avoid the fuel.

☆ Russia’s economy is hurting despite Putin’s bluster
▼ + stars: | 2023-02-22 | by ( Julia Horowitz | ) edition.cnn.com time to read: +9 min

Russia’s economy did weaken as a result. “The Russian economy and system of government have turned out to be much stronger than the West believed,” Putin said in a speech to Russia’s parliament Tuesday. The bloc, which dramatically reduced its dependence on Russian natural gas last year, officially banned most imports of Russian crude oil by sea in December. Russia’s oil problemIn fact, Russia’s export revenue from oil rose last year. On the declineThe International Monetary Fund still expects Russia’s economy to expand by 0.3% this year and 2.1% the next.

☆ Column: More to Spain and Portugal's power markets than Iberian Exception
▼ + stars: | 2023-02-22 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +6 min

CLEAN POWER CRITICAL MASSWhile a majority of energy market focus in 2022 stayed on the impact of surging natural gas prices, Spain and Portugal quietly scaled new highs in terms of clean power generation. REWRITING THE RULESThe negotiations for the Iberian Exception were a messy affair involving bureaucrats from across Europe. As a majority of Europe's power system runs off natural gas, the surge in natural gas prices had a commensurate effect on electricity costs throughout the EU last year. PRICE IMPACTThe exception was implemented in Iberian power markets from June 2022, and resulted in a steady decline in Spanish and Portuguese power prices from then on. Spain vs Europe power pricesIn turn, this allowed power prices in Spain to average roughly 40%-45% less than those in Germany, the Netherlands and France over the latter half of 2022.

☆ Russia should have 'whacked' Biden when he was in Kyiv, one of its leading propagandists suggested
▼ + stars: | 2023-02-21 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

Russia should have killed Biden when he visited Ukraine, a Russian state media host suggested. She was critical of Russia potentially giving Biden security guarantees for the trip. Biden visited Kyiv in a surprise trip on Monday, where air sirens sounded but no threat was seen. Skabeeva criticized Russia for deciding not to take action against Biden, even though the US had notified Russia in advance that he was visiting the city. Russian state TV host Sergey Mardan called Biden's visit a "demonstrative humiliation of Russia" in a Telegram post.

☆ Russia urges Sweden again to share Nord Stream probe findings
▼ + stars: | 2023-02-21 | by ( Lidia Kelly | ) www.reuters.com time to read: +2 min

Feb 21 (Reuters) - Russia renewed its calls on Sweden late on Monday to share its findings from the ongoing investigation into the explosions that damaged the Nord Stream gas pipelines last year. "Almost five months have passed since the sabotage of the Nord Stream 1 and Nord Stream 2 gas pipelines. All this time, however, the Swedish authorities, as if on cue, remain silent," Russia's embassy to Sweden said on the Telegram messaging platform. It also reiterated Moscow's stance, without providing evidence, that the West was behind the blasts affecting the Nord Stream 1 and 2 pipelines - multibillion-dollar infrastructure projects that carried Russian gas to Germany. Construction of Nord Stream 2 was completed in September 2021, but was never put into operation after Germany shelved certification just days before Russia sent its troops into Ukraine a year ago this week.

Russia wants the 15-member council to ask for an independent inquiry into the blasts on the pipelines connecting Russia and Germany, which spewed gas into the Baltic Sea. "The authorities of Denmark, Germany and Sweden have been in dialogue regarding the investigation of the gas leaks, and the dialogue will continue to the relevant extent." Russia has asked U.S. economist Jeffrey Sachs, of the Center for Sustainable Development at Columbia University, to brief the Security Council at Tuesday's meeting. The consequences as concerns greenhouse gas emissions are substantial and worrisome," Denmark, Germany and Sweden wrote. This means a vote could coincide with meetings of the U.N. General Assembly and Security Council to mark the first anniversary of Moscow's invasion of Ukraine.

☆ Oil and gas industry could slash methane emissions by 75% with barely a hit to income, says IEA
▼ + stars: | 2023-02-21 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +3 min

The Biden administration pledged to cut methane emissions from oil and gas production today. In California, 35,000 oil and gas wells sit idle, many of which are unplugged and could leak methane gas. For the oil and gas industry, fixing methane emissions mostly comes down to finding and repairing leaks. More than 150 countries have signed on to the Global Methane Pledge launched at the COP 26 conference in 2021 to address methane emissions. Those signatories represent 55% of anthropogenic methane emissions and 45% of methane emissions from the fossil fuel industry.

☆ Russia wants UN Security Council to ask for NordStream blast inquiry
▼ + stars: | 2023-02-17 | by ( ) www.reuters.com time to read: +2 min

UNITED NATIONS, Feb 17 (Reuters) - Russia wants the United Nations Security Council to ask for an independent inquiry into September attacks on the Nord Stream gas pipelines, connecting Russia and Germany, that spewed gas into the Baltic Sea. Russia gave the 15-member council a draft resolution on Friday, seen by Reuters, which would ask U.N. Secretary-General Antonio Guterres to establish an international investigation into the "sabotage" and identify who was to blame. A council resolution needs at least nine votes in favor and no vetoes by the United States, Britain, France, China or Russia to pass. This means a vote could coincide with meetings of the U.N. General Assembly and Security Council to mark the first anniversary of Moscow's invasion of Ukraine. The United States and the North Atlantic Treaty Organization have called the incident "an act of sabotage."

☆ Russia says U.S. should prove it did not destroy Nord Stream
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +1 min

Feb 16 (Reuters) - The United States should try to prove it was not behind the destruction of the Nord Stream gas pipelines that connected Russia to Western Europe, the Russian embassy to the United States said on Thursday. Moscow considers the destruction of Nord Stream 1 and Nord Stream 2 pipelines last September "an act of international terrorism" and will not allow it to be swept under the rug, the embassy said in a statement. The White House has dismissed the allegations as "utterly false and complete fiction". U.S. Department of State spokesman Ned Price said on Wednesday "it is pure disinformation that the United States was behind what transpired" with Nord Stream, provoking the fresh Russian comment. Reporting by Olzhas Auyezov; Editing by Jacqueline Wong and Tom HogueOur Standards: The Thomson Reuters Trust Principles.

☆ Rising tensions with Russia have NATO militaries worried about the revival of a Cold War-era submarine threat
▼ + stars: | 2023-02-16 | by ( Constantine Atlamazoglou | ) www.businessinsider.com time to read: +9 min

A top concern is that those subs could be used to attack or interfere with undersea cables and pipelines. Ander Gillenea/AFP/Getty ImagesConcern about Russia's expanding underwater capabilities and the danger they pose to critical underwater infrastructure has risen since Russia seized Crimea in 2014. Since then, Russian submarines have deployed more often and for longer and their activity close to critical undersea infrastructure has increased. Recent Russian submarine activity does suggest an increasing focus on being able to get into the Atlantic and closer to the US East Coast. At a Senate hearing in February 2020, the head of US European Command was asked if US forces have "sufficient visibility" on Russian submarines in the Atlantic.

☆ EU countries told to step up defence against state hackers
▼ + stars: | 2023-02-14 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, Feb 14 (Reuters) - European Union countries must step up their defences against cyber attacks on their financial infrastructure as the war in Ukraine raises the risk of hacks by foreign powers, the bloc's systemic risk watchdog said on Tuesday. "The war in Ukraine, the broader geopolitical landscape and the increasing use of cyber attacks have significantly heightened the cyber threat environment," the ESRB said in a report. "There is an increased risk of cyber attacks on the EU financial system by states or state-sponsored actors." "The ESRB will consider which operational policy tools are most effective in responding to a system-wide cyber incident and identify gaps across operational and financial policy tools," it added. Reporting By Francesco Canepa Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

☆ Moscow's decades-old gas ties with Europe lie in ruins
▼ + stars: | 2023-02-14 | by ( Vladimir Soldatkin | ) www.reuters.com time to read: +10 min

Washington has long criticised Germany's policy of reliance on Russian energy, which until last year, Berlin had said was a means to improve relations. In October, he mooted an idea of a gas hub in Turkey to divert the Russian gas flows from the Baltic Sea and North-West Europe. The 20-year supply deal is worth about $30 billion in current gas prices. In Europe, gas prices hit record levels and international oil prices shortly after the special military operation began spiked close to their all-time high. Domestic gas prices are regulated by the government and there have been discussions about liberalising the gas market, a sensitive issue for Russian households.

☆ Russia says NATO should hold emergency summit over Nord Stream blasts
▼ + stars: | 2023-02-12 | by ( ) www.reuters.com time to read: +1 min

Feb 12 (Reuters) - NATO should hold an emergency meeting to discuss recent findings about September explosions at the Nord Stream gas pipelines, Russia's Foreign Ministry spokeswoman Maria Zakharova said late on Saturday. The White House dismissed as "utterly false and complete fiction" the claim that the United States was behind explosions of the Nord Stream gas pipelines, which send Russian gas to Germany. The United States and the North Atlantic Treaty Organization have called the incident "an act of sabotage." "So when will an emergency NATO summit meet to review the situation?" NATO did not immediately respond to Reuters request for a comment.

☆ The claim by a discredited journalist that the US secretly blew up the Nord Stream pipeline is proving a gift to Putin
▼ + stars: | 2023-02-09 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +6 min

Once-celebrated journalist Seymour Hersh made unproven claims the US blew up the Nord Stream pipelines. In Russia, Hersh's story was immediately greeted with a sense of vindication. Biden had said he opposed opening the Nord Stream 2 pipeline and saying the US could "bring an end to" it if Russia invaded Ukraine. The invasion did take place, and officials in Germany — where the pipeline was due to pump its gas — axed the project before Nord Stream 2 moved any gas. Nord Stream 1 kept pumping until the explosion.

Russia, without providing evidence, has repeatedly said the West was behind the blasts affecting the Nord Stream 1 and 2 pipelines last September - multibillion-dollar infrastructure projects that carried Russian gas to Germany. In his blog post, entitled "How America Took Out The Nord Stream Pipeline", Hersh said a plan was hatched in 2021 at the highest levels in the United States to destroy the pipelines. Russian Foreign Minister Sergei Lavrov said earlier this month that Washington was directly involved in the sabotage of the pipelines. Deputy Foreign Minister Sergei Ryabkov said there would be "consequences" for Washington, adding the report was not a surprise for Russia as it had long considered the United States and possibly other NATO members were behind the blasts. The United States should pay "compensation to countries affected by the terrorist attack", Volodin added.

☆ Russia calls for international probe into Nord Stream blasts after blogger report
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +1 min

MOSCOW, Feb 9 (Reuters) - A blog by a U.S. investigative journalist alleging the United States was behind the explosions that ruptured the Nord Stream gas pipelines should become the basis for an international investigation, Russia's top lawmaker said on Thursday. Volodin said the United States should pay "compensation to countries affected by the terrorist attack." Moscow, without providing evidence, has repeatedly said the West was behind the explosions affecting the Nord Stream 1 and 2 pipelines last September - multibillion-dollar infrastructure projects that carried Russian gas to Germany under the Baltic Sea. President Vladimir Putin has accused "Anglo-Saxon" powers of blowing up the Nord Stream pipelines, a Kremlin-designed project to circumvent Ukraine in exporting its gas directly to Germany and further to Europe. Russia's foreign ministry said on Wednesday the United States had questions to answer over its role in explosions on the undersea Nord Stream gas pipelines last year.

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