Energy
From Russia with hub
Ambitious plans to turn Baumgarten into Europe's most liquid gas hub face many challenges, but if successful could radically change the continent's gas trading landscape. Roderick Bruce reports
Ready for takeoff?
With aviation joining the EU Emissions Trading Scheme in 2012, Alex Meredith of Hunton & Williams asks whether the aviation sector is ready and looks at the potential impact on the carbon market
Oil change
George W. Bush ruled that the US Strategic Petroleum Reserve was to be released in significant amounts only in a national emergency. But incoming US president Barack Obama could change that, finds Susan Arterian
Ready for any weather
Roderick Bruce looks back at the highlights of the Weather Risk e-symposium, a live online conference hosted by Energy Risk in late November
RWE to buy Essent
Germany's RWE is buy Dutch utility Essent in an all-cash €9.3 billion deal. Essent will become RWE's operating company in the Netherlands and Belgium, and will continue as an independent entity.
Liquidity floods into Powernext Gas
French exchange Powernext's recently-launched natural gas spot market has already become the most liquid in continental Europe, says Powernext.
CME launches dual listing of oil and gas options
CME Group has announced the dual listing of financially settled crude oil, Brent crude oil and natural gas calendar spread options on the New York trading floor and ClearPort Clearing.
Russia gas dispute hits European markets
Two days of Ukrainian natural gas transit flow cuts, combined with cold weather, have sparked a rise in both short and medium term European natural gas prices.
Obama plans alternative energy boost
US President-elect Barack Obama has pledged to double alternative energy production over the next three years and construct a new smart grid as part of an economic stimulus plan.
Russian gas exports to Europe via Ukraine halted
Exports of Russian natural gas to Europe through Ukraine have now been completely halted, according to statements from Ukraine's Naftogaz and Russia's Gazprom.
Russian gas exports to Europe “seven times less” after pipeline closures
Gazprom Export director general Alexander Medvedev stated today that an overnight shutdown of three transit pipelines by Ukraine had caused a seven-fold drop in Russian natural gas exports reaching Europe.
EU officials move to settle Russia / Ukraine gas dispute
The European Union today moved to end the impasse in negotiations between Ukraine and Russia to resolve a natural gas supply dispute.
Growth in US oil consumption to slow significantly
The latest Annual Energy Outlook (AEO) from the Energy Information Administration (EIA) has forecast virtually no growth in 2009 US oil consumption for the first time in more than 20 years.
RGGI allowances reach $3.38 clearing price
Regional Greenhouse Gas Initiative (RGGI) allowances sold at a clearing price of $3.38 at the scheme's second pre-compliance auction on 17 December 2008.
Australia to start carbon trading in 2010
Australia's carbon trading scheme will be up and running by the middle of 2010, according to a statement made by the Australian government minister for climate change and water, Penny Wong, at the Poznan climate change negotiations last week.
Global oil demand to slump
Global oil demand is set to fall this year and next, marking the first consecutive two-year decline in three decades, according to the Energy Information Agency (EIA).
Liffe to launch commodities on Bclear
Liffe, the international derivatives business of Euronext, has announced that it will launch a range of soft and agricultural commodities on its Bclear OTC derivatives platform in the first quarter of 2009.
Essent Trading expands into Nordics and Asia-Pacific
Essent Trading, the Geneva-based trading arm of Dutch utility Essent, has opened representative offices in Norway and Singapore.
European carbon emissions saw increase in 2007
Despite reduction targets, major European electricity producers have increased their carbon emissions since 2007 according to a report released by PricewaterhouseCooper (PwC) last week.