Tag: Europe gas

Austria Reviving Coal-Fired Power Plants as Safeguard Against Reduced Russian Gas Supply

June 20, 2022
Austrian ChancellorBusiness & MarketscommoditieseconomyEuropeEurope gasMarketsrussian gasRussian sanctionsWorld
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The Austrian government has decided to use coal power to produce electricity in case curtailed Russian gas supply creates an energy emergency in the nation. “The federal government and the energy group VERBUND have agreed to convert the Mellach (Styria) district heating power plant, which is currently shut down, so that in an emergency it…

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Excess Gas Drives Down Prices in UK, Even as Prices Across Europe Rise

May 12, 2022
Business & EconomyEuropeEurope gasMarketsrussian gasUnited KingdomWorld
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An unprecedented supply glut of liquefied natural gas (LNG) has driven down wholesale gas prices in the United Kingdom to low levels, while across the English Channel, Europe struggles with high gas prices. Britain’s terminals are receiving LNG cargoes intended to be transported to Europe through subsea pipelines. However, “the rate of LNG imports has…

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