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EU Natural Gas Price Cap
As part of the sanctions imposed on the Russian Federation as a result of the Russo-Ukrainian War, on 3 December 2022, the European Union (EU) agreed to cap the price of natural gas in order to reduce the volatility created by Russia in the gas market. In 2021 the EU imported 83% of its natural gas, but following the invasion of Ukraine gas imports from Russia have fallen, partly due to the increasing cost, partly because of reductions in supply from Russia, partly through reduction of consumption and partly because of a desire to move away from Russia's Gazprom as a supplier. The main effect on Russia, would be the desire of the EU to move quickly away from buying any gas from Russia. The price cap would become effective from 15 February 2023 at €180 per megawatt-hour. Discussions on price cap proposals The EU originally proposed that a gas market correction mechanism would kick in when the price of month-ahead contracts on the Dutch Title Transfer Facility (TTF) exceeded ₠... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Russian Federation
Russia (, , ), or the Russian Federation, is a List of transcontinental countries, transcontinental country spanning Eastern Europe and North Asia, Northern Asia. It is the List of countries and dependencies by area, largest country in the world, with its internationally recognised territory covering , and encompassing one-eighth of Earth's inhabitable landmass. Russia extends across Time in Russia, eleven time zones and shares Borders of Russia, land boundaries with fourteen countries, more than List of countries and territories by land borders, any other country but China. It is the List of countries and dependencies by population, world's ninth-most populous country and List of European countries by population, Europe's most populous country, with a population of 146 million people. The country's capital and List of cities and towns in Russia by population, largest city is Moscow, the List of European cities by population within city limits, largest city entirely within E ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Urengoy–Pomary–Uzhhorod Pipeline
The Urengoy–Pomary–Uzhhorod pipeline (also known as the Bratstvo pipeline, Brotherhood pipeline, West-Siberian Pipeline, or Trans-Siberian Pipeline) is one of Russia's main natural gas export Pipeline transport, pipelines, partially owned and operated by Ukraine. History The pipeline project was proposed in 1978 as an export pipeline from Yamburg gas field, but was later changed to the pipeline from Urengoy field, which was already in use. In July 1981, a consortium of German banks, led by Deutsche Bank, and the AKA Ausfuhrkredit GmbH agreed to provide 3.4 billion Deutsche Mark in credits for the compressor stations. Later finance agreements were negotiated with a group of French banks and the Japan Bank for International Cooperation, Japan Export-Import Bank (JEXIM). In 1981-1982, contracts were signed with compressors and pipes suppliers Creusot-Loire, John Brown Engineering, Nuovo Pignone, AEG-Telefunken, Mannesmann, Dresser Industries, and Japan Steel Works. Pipe-la ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Sanctions
International sanctions are political and economic decisions that are part of diplomatic efforts by countries, multilateral or regional organizations against states or organizations either to protect national security interests, or to protect international law, and defend against threats to international peace and security. These decisions principally include the temporary imposition on a target of economic, trade, diplomatic, cultural or other restrictions (sanctions measures) that are lifted when the motivating security concerns no longer apply, or when no new threats have arisen. According to Chapter VII of the United Nations Charter, only the UN Security Council has a mandate by the international community to apply sanctions (Article 41) that must be complied with by all UN member states (Article 2,2). They serve as the international community's most powerful peaceful means to prevent threats to international peace and security or to settle them. Sanctions do not include the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foreign Relations Of Russia
The foreign relations of the Russian Federation is the policy arm of the Russian government, government of Russia which guides its interactions with other nations, their citizens, and foreign organizations. This article covers the foreign policy of the Russian Federation since the dissolution of the Soviet Union in late 1991. As of present, Russia has critical diplomatic relations with Ukraine due to the 2022 Russian invasion of Ukraine. The Kremlin's foreign policy debates show a conflict between three rival schools: Atlanticism, Atlanticists, seeking a closer relationship with the United States and the Western World in general; Imperialism, Imperialists, seeking a recovery of the semi-hegemonic status lost during the previous decade; and Slavophilia, Neo-Slavophiles, promoting the isolation of Russia within its own cultural sphere. While Atlanticism was the dominant ideology during the first years of the new Russian Federation, under Andrei Kozyrev, it came under attack for i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Energy Crises
An energy crisis or energy shortage is any significant bottleneck in the supply of energy resources to an economy. In literature, it often refers to one of the energy sources used at a certain time and place, in particular, those that supply national electricity grids or those used as fuel in industrial development and population growth have led to a surge in the global demand for energy in recent years. In the 2000s, this new demand – together with Middle East tension, the falling value of the US dollar, dwindling oil reserves, concerns over peak oil, and oil price speculation – triggered the 2000s energy crisis, which saw the price of oil reach an all-time high of in 2008. Causes Most energy crises have been caused by localized shortages, wars and market manipulation. Some have argued that government actions like tax hikes, nationalisation of energy companies, and regulation of the energy sector, shift supply and demand of energy away from its economic equilibrium. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2020s In International Relations
S, or s, is the nineteenth letter in the Latin alphabet, used in the modern English alphabet, the alphabets of other western European languages and others worldwide. Its name in English is ''ess'' (pronounced ), plural ''esses''. History Origin Northwest Semitic šîn represented a voiceless postalveolar fricative (as in 'ip'). It originated most likely as a pictogram of a tooth () and represented the phoneme via the acrophonic principle. Ancient Greek did not have a phoneme, so the derived Greek letter sigma () came to represent the voiceless alveolar sibilant . While the letter shape Σ continues Phoenician ''šîn'', its name ''sigma'' is taken from the letter ''samekh'', while the shape and position of ''samekh'' but name of ''šîn'' is continued in the '' xi''. Within Greek, the name of ''sigma'' was influenced by its association with the Greek word (earlier ) "to hiss". The original name of the letter "sigma" may have been ''san'', but due to the complica ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sanctions And Boycotts During The Russo-Ukrainian War
A sanction may be either a permission or a restriction, depending upon context, as the word is an auto-antonym. Examples of sanctions include: Government and law * Sanctions (law), penalties imposed by courts * Economic sanctions, typically a ban on trade, possibly limited to certain sectors (such as armaments), or with certain exceptions (such as food and medicine), e.g., ** Sanctions against Iran ** Sanctions against North Korea ** Sanctions against Russia * International sanctions, coercive measures adopted by a country or a group of countries against another state or individual(s) in order to elicit a change in their behavior ** International sanctions during the Russo-Ukrainian War * Pragmatic sanction, historically, a sovereign's solemn decree which addresses a matter of primary importance and which has the force of fundamental law Arts, entertainment, and media *''The Eiger Sanction'', a 1972 thriller novel by Trevanian, the pen name of Rodney William Whitaker ** ''The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
TurkStream
TurkStream ( tr, TürkAkım or ''Türk Akımı'', russian: Турецкий поток; former name: Turkish Stream) is a natural gas pipeline running from Russia to Turkey. It starts from Russkaya compressor station near Anapa in Russia's Krasnodar Region, crossing the Black Sea to the receiving terminal at Kıyıköy. Some gas flows onwards to Serbia, and likely in future Hungary. The 2022 Russia–European Union gas dispute cut off deliveries to Bulgaria but they will likely resume with the new Bulgarian government. History The first direct gas pipeline between Russia and Turkey under the Black Sea was Blue Stream, which was commissioned in 2005. In 2009, Russia′s prime minister Vladimir Putin proposed the Blue Stream II line parallel to the original pipeline. The Blue Stream II project never took off and the South Stream project took the lead, until it was abandoned in 2014. The TurkStream (then named Turkish Stream) project was announced by Russia′s president Vladim ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Natural Gas Transmission System Of Ukraine
The natural gas transmission system of Ukraine is a complex of natural gas transmission pipelines for gas import and transit in Ukraine. It is one of the largest gas transmission systems in the world. The system is linked with natural gas transmission systems of Russia and Belarus on one hand, and with systems of Poland, Romania, Moldova, Hungary and Slovakia on the other hand. The system is owned by Government of Ukraine and operated by Ukrtransgaz. Some local transmission lines together with distribution sets are owned by regional gas companies. History The development of Ukrainian gas pipeline system started in Galicia, then part of Poland. The first gas pipeline was Boryslav–Drohobych pipeline in 1912. In 1924, after discovery of the Dashava gas field the Dashava–Stryi–Drohobych gas pipeline was constructed. In 1928, the Dashava–Lviv and in 1937, the Dashava–Tarnów pipelines were built. After Soviet annexation of Eastern Galicia, the Dashava–Tarnów pipeline bec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bloomberg News
Bloomberg News (originally Bloomberg Business News) is an international news agency headquartered in New York City and a division of Bloomberg L.P. Content produced by Bloomberg News is disseminated through Bloomberg Terminals, Bloomberg Television, Bloomberg Radio, ''Bloomberg Businessweek'', ''Bloomberg Markets'', Bloomberg.com, and Bloomberg's mobile platforms. Since 2015, John Micklethwait has served as editor-in-chief. History Bloomberg News was founded by Michael Bloomberg and Matthew Winkler in 1990 to deliver financial news reporting to Bloomberg Terminal subscribers. The agency was established in 1990 with a team of six people. Winkler was first editor-in-chief. In 2010, Bloomberg News included more than 2,300 editors and reporters in 72 countries and 146 news bureaus worldwide. Beginnings (1990–1995) Bloomberg Business News was created to expand the services offered through the terminals. According to Matthew Winkler, then a writer for ''The Wall Street Journal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Urengoy Gas Field
The Urengoy gas field in the northern West Siberia Basin is the world's second largest natural gas field after South Pars / North Dome Gas-Condensate field. The gas field has over ten trillion cubic meters (1013 m³) in total deposits. It lies in Yamalo-Nenets Autonomous Okrug in Tyumen Oblast of Russia, just south of the Arctic circle and named after the settlement of Urengoy. The gas field is serviced by the town of Novy Urengoy, founded in 1973. History Urengoy gas field was discovered in June 1966. The first drilling hole hit gas on 6 July 1966 and the field started production in 1978. On 25 February 1981, Urengoy extracted its first one hundred billion cubic meters (1011 m³) of natural gas. From January 1984, Urengoy gas started to be exported to Western Europe through the Urengoy–Pomary–Uzhgorod pipeline. Production The Urengoy gas field extracts 260 billion cubic meters of natural gas, more than 5,000 tons of condensate and 825,000 tons ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
