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Nord Stream-2 and US sanctions 

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Washington's threats of sanctions against the Nord Stream-2 project are nothing more than attempts to oust Russia from the European gas market with non-market instruments. This was stated by the head of Gazprom export ("daughter" of Gazprom PJSC) Elena Burmistrova, speaking at online conference, writes Alexi Ivanov, Moscow correspondent.

"Unfortunately, there is an additional threat, which increasingly affect our co-operation is a political confrontation in General and, in particular, the threat of US sanctions against the Nord Stream-2," she said.

According to Burmistrova, American suppliers of liquefied natural gas (LNG) have disturbed the European market and are unable to stabilize him. "Now the US is trying to oust Russia using non - market instruments," the top Manager believes.

US threats to impose sanctions on Nord stream 2 are attempts to oust Russia from the European gas market with non – market instruments, said Elena Burmistrova.

Earlier, Russian Ambassador to the United States Anatoly Antonov said that the actions of the American side in relation to the "Nord stream – 2" are caused by the desire to make Moscow pay for an independent foreign policy.

Meanwhile, in early October, Denmark found a way to circumvent US sanctions against Nord Stream-2. According to many news reports, Copenhagen, which had been dragging its feet for many years with a permit to build the pipe, gave the go-ahead for its operation in advance and how this would affect the completion of the project.

On the first day of the work of the new Polish government, in which the position of Deputy Prime Minister responsible for national security was given to the Russophobe Jaroslaw Kaczynski, the head of the Polish antitrust regulator UOKiK Tomasz Krustny said that his Department had completed the investigation on Nord Stream-2 the day before and decided to impose a fine of 29 billion zlotys ($7.6bn) on Russia's Gazprom. In Warsaw they are convinced that the project participants should have previously notified UOKiK and received consent.

"We are talking about construction without the consent of the Antimonopoly German Chancellor Angela Merkel makes similar statements: "We have different views on Nord stream-2. We consider this project an economic one. We are in favor of diversification. The project does not constitute a threat to the diversification," said the politician at a meeting with Polish Prime Minister Mateusz Morawiecki in February 2020.

The Germans are really in favor of diversification. The German energy doctrine for the next three years refers to the construction of terminals for receiving liquefied natural gas (LNG). Simply put, Berlin was going to import fuel from other suppliers: Americans or Qataris. This looks somewhat strange, given the current relations between Germany and Gazprom (in which Germany has every chance to become a key player in the European energy market). At the same time the cost LNG is definitely more expensive than main gas. Not to mention that the construction of LNG infrastructure also costs money (at least 500 million euros for one terminal in Brunsbuttel, according to Bloomberg).

On the other hand, the same German energy doctrine prescribes a complete rejection of the use of coal (by 2050). This is done for environmental reasons. Coal is an inexpensive fuel, but its use is dangerous because of harmful substances released into the atmosphere. Gas is a much safer type of fuel for the environment. It turns out that the demand for it from Germany will grow, but the Germans will not be able to meet their gas needs by importing LNG from the United States and Qatar. Most likely, Berlin's plans for liquefied natural gas are just a step to diversify supplies, but the country will not be able to refuse Russian fuel, experts say..

Germany has always been the main lobbyist for the construction of Nord Stream-2. This is understandable: after the gas pipeline is put into operation, Germany will become the largest gas hub in Europe, gaining both political points and financial flows. Two German companies are taking part in the construction of the second branch of Nord stream: E.ON and Wintershall (both have 10% each).

The other day, German foreign Minister, Heiko Maas, claimed that the gas pipeline project is economic. "Nord stream-2 is a project within the private economy. This is a purely commercial, economic project," Maas was quoted as saying by TASS.

German Chancellor Angela Merkel makes similar statements: "We have different views on Nord stream. We consider this project an economic one. We are in favor of diversification. The project does not constitute a threat to the diversification," said the politician at a meeting with Polish Prime Minister Mateusz Morawiecki in February 2020.

It seems that no one else in Europe cares about the issue of US sanctions in connection with the construction of the Nord stream - 2 gas pipeline. They have long understood that their own economic interests are much more important than American claims, and therefore they are trying to overcome American pressure in every possible way for the sake of their economic benefits.

Energy

Germany to speed up wind and solar energy expansion

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The German government plans to speed up the expansion of wind and solar energy by 2030 as part of its climate protection programme, a draft law seen by Reuters showed on Wednesday (2 June).

The new plan aims to expand installed production capacity of onshore wind energy to 95 gigawatts by 2030 from a previous target of 71 GW, and of solar energy to 150 GW from 100 GW, the draft showed.

Germany's installed capacity of onshore wind power stood at of 54.4 GW and of solar energy at 52 GW in 2020.

The climate protection programme also envisages funding of around 7.8 billion euros ($9.5 billion) for next year, including 2.5 billion euros for building refurbishment and an extra 1.8 billion euros for subsidies for electric car purchases.

The plan also includes doubling support to help industry change processes to cut emissions of carbon dioxide, such as in steel or cement production.

However, these financial pledges can only be approved after the German federal election in September.

The move comes after Germany's Constitutional Court ruled in April that Chancellor Angela Merkel's government had failed to set out how to cut carbon emissions beyond 2030 after plaintiffs challenged a 2019 climate law. Read more.

Earlier this month, the cabinet approved draft legislation for more ambitious CO2 reduction targets, including being carbon neutral by 2045 and cutting German carbon emissions by 65% by 2030 from 1990 levels, up from a previous target for a 55% cut.

($1 = €0.8215)

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Energy

Commission and Breakthrough Energy Catalyst announce new partnership to support investments in clean technologies for low-carbon industries

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Commission President Ursula von der Leyen and Bill Gates have announced a pioneering partnership between the European Commission and Breakthrough Energy Catalyst to boost investments in the critical climate technologies that will enable the net-zero economy. Presented on the occasion of the sixth Mission Innovation Ministerial meeting, the new partnership aims to mobilize new investments of up to €820 million/$1 billion between 2022-26 to build large-scale, commercial demonstration projects for clean technologies – lowering their costs, accelerating their deployment, and delivering significant reductions in CO2 emissions in line with the Paris Agreement. 

This new partnership intends to invest in a portfolio of high-impact EU-based projects initially in four sectors with a high potential to help deliver on the economic and climate ambitions of the European Green Deal: green hydrogen; sustainable aviation fuels; direct air capture; and long-duration energy storage. In doing so, it seeks to scale up key climate-smart technologies and speed up the transition towards sustainable industries in Europe.  

European Commission President Ursula von der Leyen said: “With our European Green Deal, Europe wants to become the first climate-neutral continent by 2050. And Europe has also the great opportunity to become the continent of climate innovation. For this, the European Commission will mobilize massive investments in new and transforming industries over the next decade. This is why I'm glad to join forces with Breakthrough Energy. Our partnership will support EU businesses and innovators to reap the benefits of emission-reducing technologies and create the jobs of tomorrow.”

A press release is available online.

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Energy

EU Reporter partners "All Things Energy Forum" 02-04 June

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Starting tomorrow, Wednesday 2nd June, EU Reporter is All Things Energy Forum June 02-04 is an international digital stage that will engage more than 140 Speakers and 1000 Attendees in an interactive dialogue. This high-level event will welcome more than 30 countries to deal with six mega phenomena in a novel manner, combining approaches and contemplating interrelated impacts.

The event will span over two and a half days. The first day (02/06/2021) will host government ministers and high-level industry and public executives, in two introductory panel discussions:

  • All Things Energy the EU Green Deal and the Impact of COVID-19
  • Energy Projects in SE Europe and the East Med


During the following two days, Thursday 03 - Friday 04/06/2021, the conference will host more than 100 speakers in plenary as well as specialised parallel sessions that will cover all the aspects and challenges of the energy ecosystem. The agenda will not follow the classic lines of supply, demand, policy, technology, finance etc. Instead, a novel combinatorial approach will be used focusing on the links between 1. Epidemics, 2.Economics, 3. Energy trade, 4. International politics,
5. Energy/Environment policies and 6. Disruptive Technologies.


Key issues to be discussed include:

  • New Visions of Energy: Succeeding in a disruptive context
  • New regional perspectives: The role of gas in the transition to a lower carbon economy
  • What major technology breakthroughs are revolutionizing the energy sector
  • Dynamic resilience: Preparing for extreme weather, water stress and cyber risk
  • The business outlook for oil
  • The outlook for hydrocarbon economies
  • Megaprojects: Global impact and implications
  • Rethinking hydro: Powering tomorrow’s world
  • Driving innovation: The role of governments in the future of energy


Register here to join the first edition of #ATEForum2021: https://www.eventora.com/en/Events/allthingsenergyforum-2020

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