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☆ ICE to open London gas hub, creating route around EU price cap
▼ + stars: | 2023-01-27 | by ( Kate Abnett | ) www.reuters.com time to read: +2 min

ICE hosts trading on the TTF gas hub in Amsterdam and had previously warned it could move the market outside of the EU because of the bloc's looming price cap on gas derivatives. ICE said it would continue to operate the TTF market on its Amsterdam exchange - the most liquid gas futures market in Europe, which sets the region's benchmark gas price - but alongside this, it was preparing to launch another market for TTF futures and options in London on Feb. 20. The London market would not be subject to the 27-country bloc's gas price cap, since Britain is no longer an EU member. EU countries agreed on the gas price cap last year, to attempt to avoid a repeat of the record-high price spikes experienced in 2022 as Russian gas deliveries to Europe dwindled. Analysts have said the EU cap now appears less likely to be triggered, but that price spikes cannot be ruled out.

“There have been about 1,300 Russian tank losses … so the actual numbers of new tanks [for Ukraine] in a military sense are not that significant. There’s a lot of Ukraine and 20, 30, 40 tanks does not go that far,” said Ronald Ti, an expert in military logistics at King’s College, London. Nevertheless, the move to create a new “tank coalition,” as some officials called it, has been widely welcomed in Ukraine. Zelenskyy has said Ukraine requires around 300 tanks in order to successfully defend its territory from an expected Russian spring offensive, and to begin winning back territory ceded to Moscow since the invasion began last February. German Chancellor Olaf Scholz, seen in Berlin on Wednesday, has faced prolonged criticism for a reluctance to send military equipment to Ukraine.

The U.S. Pentagon presented its best arguments, publicly and privately, against sending Abrams - its most advanced battle tanks - to Ukraine. The reversal ended a rare public division in the alliance that Washington officials feared Moscow could exploit. TANK DELIVERIES LIKELY MONTHS AWAYIn Washington, senior U.S. officials had privately expressed consternation at Germany's attempts to tie the Abrams tanks to delivery of the Leopards. He also discussed the issue in multiple phone conversations with Biden this month, senior Biden administration officials said. But at one point during Austin's trip, Washington asked Berlin to stop publicly tying Germany's approval of the Leopard tanks to the Biden administration sending Abrams tanks.

☆ Germany sending Leopard tanks to Ukraine, ending rift among Western allies
▼ + stars: | 2023-01-25 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Patrick-Smith-Circle-Byline-Template.Jpg | Patrick Smith | ) www.nbcnews.com time to read: +6 min

Ukrainian military leaders have said they need hundreds of the tanks to break through Russian defenses. Germany has more than 300 active Leopard tanks and more in storage. Several countries use Leopard tanks, including Canada, the Netherlands and Sweden. “The question is whether 100 tanks of different varieties will be enough to eject Russian forces from Ukraine. The deployment of Leopard tanks was the most significant, he said, because of its conventional diesel-powered engine, as opposed to the Abrams tanks, which are powered by jet fuel.

☆ NATO’s Willing Members vs. Germany on Tanks for Ukraine
▼ + stars: | 2023-01-25 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

German Chancellor Olaf Scholz declared last year his commitment to bolstering the North Atlantic Treaty Organization in the wake of Russia’s invasion of Ukraine. Mr. Scholz last week demonstrated that he’s now one of the main impediments to NATO unity as his vacillations over military aid to Ukraine force Germany’s allies to create their own coalitions of the willing. The main event was Friday’s summit at Ramstein Air Base in Germany, which failed to dislodge Mr. Scholz’s opposition to new tank deliveries to Ukraine. Mr. Scholz’s refusal to provide Leopard 2 tanks or to allow anyone else to send them has exasperated Washington, as we noted over the weekend, and is damaging Germany’s reputation.

☆ Russia fumes at West's decision to send tanks to Ukraine, says red lines have been crossed
▼ + stars: | 2023-01-25 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +3 min

Germany announced earlier Wednesday that it was ready to send 14 Leopard 2 battle tanks to Ukraine, and to allow other countries to send their own German-made tanks to Kyiv. The U.S. is also expected to announce its own intention to send Abrams tanks to Ukraine imminently. "The United States has unequivocally stated its desire to inflict a strategic defeat on Russia. Following Germany's decision on tanks, all eyes are on the U.S. to see whether it will announce it's ready to send a number of its own Abrams tanks to Ukraine. Three senior U.S. officials told NBC News Tuesday that the Biden administration is preparing to send a couple dozen Abrams tanks to Ukraine although they stressed the decision was not final.

Pressure has been building on German Chancellor Olaf Scholz's government to send its Leopard tanks to Ukraine and let other countries send the ones they own. Ukraine says heavily armoured Western battle tanks would give its ground troops more mobility and protection ahead of a new Russian offensive that Kyiv expects in the near future. Germany has previously said that no country had formally asked for permission to send their Leopard tanks. A German defence source told Reuters that Poland had submitted a request to let it supply up to 14 Leopard 2 A4 tanks to Ukraine. He expressed confidence that a decision on sending battle tanks would come soon.

Still, many Germans feel Scholz is not doing a very good job of explaining his thinking. Scholz has so far neither said he would give the green light nor if he would send tanks from Germany. A main reason given is that Russia could see the deliveries of tanks as tantamount to Germany becoming a party to conflict. The Kremlin would be less inclined to retaliate if another nuclear power such as the United States also sent tanks. Already, Russia's invasion of Ukraine has forced Germany to overcome taboos such as exporting arms to war zones.

FRANKFURT, Jan 24 (Reuters) - Czech Republic-based private investment firm McWin said on Tuesday it had bought a majority stake in Germany's L'Osteria in a deal that values the Italian-themed restaurant chain at around 400 million euros ($434 million). The move is aimed at driving the chain's growth across Europe, with McWin investing alongside L'Osteria founders, Klaus Rader and Friedemann Findeis, and management. Founded in 1999, L'Osteria serves Italian food in 157 restaurants across eight European countries. The investment follows an auction process and has been made via McWin Restaurant Fund (MRF), which totals 525 million euros and was launched in August 2022. McWin's financial adviser was KPMG, while L'Osteria and its shareholders were advised by Ferber & Co and Deutsche Bank (DBKGn.DE).

WASHINGTON, Jan 24 (Reuters) - The United States, in a reversal, appears to be dropping its opposition to sending M1 Abrams battle tanks to Ukraine and an announcement could come as soon as this week, two U.S. officials told Reuters on Tuesday. The officials, speaking on condition of anonymity, said they were not aware of a final U.S. decision to send the Abrams to Ukraine, a move that could encourage Germany to follow. Such a decision by the United States would come just days after Washington argued against sending the Abrams, despite demands from Kyiv and public pressure from Berlin as it faced calls to send German-made Leopard battle tanks. Ukraine says heavily armored Western battle tanks would give its troops more mobility and protection ahead of a new Russian offensive that Kyiv expects in the near future. The disclosure about the softening U.S. position came the same day that Poland said it had submitted a formal request asking Germany to allow the re-export of its Leopard battle tanks to Ukraine.

☆ Explainer: How to correctly re-export German tanks
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: +7 min

The following explains defence export rules in Germany and other countries and the way such deals have been handled previously:HOW DO GOVERNMENTS CORRECTLY RE-EXPORT GERMAN TANKS? The same goes for cases where the weapons may be used to wage a war of aggression or the re-export approval might violate Germany's obligations under international law. As defence exports are a touchy issue in Germany, foreign countries usually do not directly submit a formal request for re-export to the German authorities. If not, the foreign country abstains from submitting a formal re-export request, and no diplomatic harm is done. GERMANY'S HIGH HURDLES FOR DEFENCE EXPORTSGermany has one of the toughest defence export regimes in the world – largely due to its bloody pre-1945 past.

☆ Leopard tanks are the 'right' weapon to send Ukraine, but don't expect a 'silver bullet,' military expert says
▼ + stars: | 2023-01-23 | by ( Jake Epstein | ) www.businessinsider.com time to read: +6 min

European countries are continuing to press Germany to green light Leopard tanks to Ukraine. One military expert told Insider that these German-made weapons are the "right tank" to send. One military expert said the much-sought-after tanks are the "right" tanks to send to Ukraine at this moment and would be "militarily useful" depending on how many are sent, but don't expect them to be a "silver bullet." Germany has been reluctant to send its Leopards or permit other countries that operate the German-made armor to send tanks to Ukraine, and some countries are growing impatient. The foreign minister said on Monday that while Warsaw will seek Germany's permission, his country will "certainly" send the formidable Leopard tanks to Ukraine.

☆ Russia official warns countries supplying Ukraine with more powerful weapons risk their own destruction
▼ + stars: | 2023-01-22 | by ( ) www.cnbc.com time to read: +7 min

The speaker of Russia's parliament warned Sunday that countries supplying Ukraine with more powerful weapons risked their own destruction, a message that followed new pledges of armored vehicles, air defense systems and other equipment but not the battle tanks Kyiv requested. "Supplies of offensive weapons to the Kyiv regime would lead to a global catastrophe," State Duma Chairman Vyacheslav Volodin said. "If it requires our sending some Abrams tanks in order to unlock getting the Leopard tanks from Germany, from Poland, from other allies, I would support that." Since invading Ukraine, Russia also has increased both the scope and the number of its joint military drills with China. Ukraine is asking for more weapons as it anticipates Russia's forces launching a new offensive in the spring.

Despite German efforts to pressure the U.S. into providing Abrams tanks to Ukraine, the Pentagon’s top leaders are against sending them, three U.S. officials said. At the same time, the officials said President Joe Biden would not pressure Germany to send the Leopard tanks to Ukraine. Asked Friday about sending Abrams tanks to Ukraine, Biden was noncommittal. They also have argued they are not the right vehicles for the fight in Ukraine right now, according to the officials. Artur Widak / AP fileU.S. officials said opposition within the Biden administration to sending Abrams tanks to Ukraine is not due to concerns Russia would see the move as escalatory.

☆ Poland ready to send Ukraine tanks even if Germany opposes it -deputy FM
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +2 min

WARSAW, Jan 20 (Reuters) - Poland could send Leopard 2 tanks to Ukraine even without Germany's re-export approval, a deputy foreign minister said on Friday, ahead of a crunch meeting on weapons for Kyiv. The issue looks set to dominate talks between Western allies at the Ramstein Air Base in Germany on Friday. "I do not rule out that we are ready to take such a step," Pawel Jablonski told private radio RMF FM referring to the possibility of sending tanks to Ukraine even if Germany opposes it. Lithuanian Defence Minister Arvydas Anusauskas said on Thursday several countries would announce sending Leopard 2 tanks to Ukraine at the Ramstein meeting. However, Germany has yet to receive a request from any country for permission to re-export German-made Leopard tanks to Ukraine, a German government source said on Thursday.

[1/2] U.S. Secretary of Defense Lloyd Austin meets with Ukraine's Defense Minister Oleksiy Reznikov to discuss how to help Ukraine defend itself, at Ramstein Air Base, Germany, January 20, 2023. But the major focus is on whether Germany will send Leopard battle tanks to Ukraine or at least approve their transfer from third countries. Leopard tanks are seen as especially suitable for Ukraine as they are widely in use, meaning several countries could each chip in some of their tanks to support Ukraine. Government sources in Germany have said it would move on the Leopard tanks issue if the United States agreed to send Abrams tanks to Ukraine. Poland could send Leopard 2 tanks to Ukraine even without Germany’s re-export approval, a deputy foreign minister said on Friday, ahead of a crunch meeting on weapons for Kyiv.

☆ Column: Model no more? Turkey's energy transition reversed in 2022: Maguire
▼ + stars: | 2023-01-19 | 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

As Turkey's overall coal imports grew by only 8.8% in 2022, the surge in Russian purchases came at the expense of other suppliers such as Colombia and Australia. In contrast, Turkey's electricity generation from solar and wind averaged 16% in 2022, meaning that an overwhelming majority of power was generated from other sources. Share of electricity from solar + wind in Turkey, Germany & SpainAn additional 22% of Turkey's electricity came from hydro facilities in 2022, which provided valuable dispatchable clean power for utilities. Yet solar and wind supplies come with the headache of intermittency, when power generation totals slump at night and during cloudy or windless days. Until 2022, Turkey had been on a path to use cleaner-burning natural gas as that main source of baseload supply, with plans to phase out high-polluting coal use over time.

☆ This startup is taking on Tesla with its integrated solar roof tiles. SunRoof used this 9-slide pitch deck to raise $14.6 million from investors.
▼ + stars: | 2023-01-19 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

Solar panel startup SunRoof just raised 13.5 million euros (around $14.6 million) in fresh funds. The Swedish company, founded in 2013, is taking on Tesla's Solar Roof energy system. We got an exclusive look at the 9-slide pitch deck SunRoof used to raise the extension round. A startup taking on Tesla's Solar Roof has just raised a 13.5 million euros (around $14.6 million) extension round to fuel its growth. Swedish company SunRoof provides integrated solar roof tiles to offer homeowners as a slick alternative to mounted solar panels, which it claims are also more efficient and environmentally friendly than those of its competitors.

People and businesses across Europe are increasing their use of such smart thermometers to keep an eye on how much gas they are using. In the winter of 2021-22, the proportion of homes with heating switched on across Europe passed 90% on November 28. The European Union imports 80% of its gas and gas represents 22% of Europe's energy consumption and meets 32% of households' energy needs, according to the EU. "Some 79% of energy consumption in a private home is heating and hot water," said Tado's Managing Director Christian Deilmann. It is still too early to tell from Tado's data whether households' energy discipline is slackening.

☆ All eyes on Germany when defense leaders meet on arming Ukraine
▼ + stars: | 2023-01-18 | by ( Idrees Ali | Thomson Reuters | National Security Correspondent Focusing On The Pentagon In Washington D.C. Reports On U.S. Military Activity | ) www.reuters.com time to read: +4 min

REUTERS/Ints KalninsWASHINGTON, Jan 18 (Reuters) - When dozens of defense ministers meet at an airbase in Germany on Friday, all eyes will be set on what Berlin is - and is not - willing to provide Ukraine. U.S. Defense Secretary Lloyd Austin had been set to meet German Defense Minister Christine Lambrecht in Berlin before the Ramstein conference, but she resigned from her post on Monday. Instead, Germany's new Defense Minister Boris Pistorius will host Austin on Thursday. Some Eastern European officials have publicly called on Germany to allow the transfer of Leopard tanks to Ukraine. Well, they're not alone," British Defense minister Ben Wallace said on Monday.

Many Germans viewed the end of the Cold War as the end of major conflict for the West. Germany has since become one of Ukraine's top military supporters, having spent 2.2 billion euros on weapons deliveries. 'EMPTY-HANDED' ARMYBeyond the immediate decision on tanks, Pistorius faces the mammoth task of upgrading Germany's military, the Bundeswehr, which army chief Alfons Mais, on the day of Russia's invasion, described as "more or less empty handed". Even before Russia's invasion of Ukraine, Germany was 20 billion euros short of reaching NATO's target for ammunitions stockpiling, a defence source said. Analysts and experts say Pistorius will have to find his own voice to push for more spending and an overhaul of Germany's defence and procurement systems.

☆ E.ON CEO: efforts to cut gas consumption must continue
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: 1 min

FRANKFURT, Jan 17 (Reuters) - E.ON (EONGn.DE) CEO Leonhard Birnbaum said it was too early to give the all-clear regarding Germany's energy crisis, saying efforts to cut consumption needed to continue to avoid gas shortages and save costs. Reporting by Christoph Steitz Editing by Paul CarrelOur Standards: The Thomson Reuters Trust Principles.

Airfares from China are now 160% higher than before the pandemic, data from travel firm ForwardKeys shows, due to limited supply. Since Jan. 4, Air China (601111.SS), Hainan Airlines (600221.SS) and China Southern Airlines (600029.SS) have filed schedules with the U.S. Department of Transportation proposing to increase flights to as much as daily on some routes. Foreign carriers seeking to add flights to China require approvals from the Civil Aviation Administration of China, which did not respond to a request for comment. However, other flights were paused as it assessed market demand and government regulations. Many Western airlines parked large planes when international traffic plunged and production of new twin-aisle jets has been limited.

[1/4] LNG Canada site construction activities are held, in Kitimat, Canada, September 2022. LNG Canada, in which Japan's Mitsubishi Corp (8058.T) owns a 15% stake, is set to be Canada's first liquefied natural gas (LNG) export terminal. LNG Canada has previously described this approach as only one of the options it was considering. LNG Canada has full environmental permits from both governments to use natural gas turbines for Phase 2, making it unclear what leverage governments have to force electrification. But buyers may pay more for LNG produced with lower emissions, Klein said, noting that some buyers already purchase carbon offsets for LNG cargoes.

☆ Repaired German Leopard tanks for Ukraine ready in 2024 at earliest, armsmaker says
▼ + stars: | 2023-01-15 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 15 (Reuters) - German armsmaker Rheinmetall (RHMG.DE) could only deliver repaired Leopard 2 battle tanks to Ukraine in 2024 at the earliest, its chief executive was quoted as saying by Bild newspaper on Sunday. Germany announced earlier this month that it would provide Ukraine with Marder infantry fighting vehicles to help repel Russian forces. But Kyiv has also requested heavier vehicles such as the Leopards, which would represent a significant step-up in Western support to Ukraine. Still, critics say German Chancellor Olaf Scholz and his ruling SPD are too slow, waiting for allies to act first instead of assuming Germany's responsibility as the Western power closest to Ukraine. Economy Minister Robert Habeck said earlier this month delivering the heavier Leopard tanks could not be "ruled out".

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