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Gazprom's Power of Siberia project. File photo: REUTERS/MAXIM SHEMETOV
Bury the hatchet
The Kremlin’s ambassador to the EU has called on Europe to mend ties with Moscow to avoid future gas shortages, but insisted that Russia had nothing to do with the recent jump in prices. Vladimir Chizhov said he expected Gazprom, the state-controlled exporter that supplies 35% of European gas needs, to respond swiftly to instructions from President Vladimir Putin to adjust output. "Change adversary to partner and things get resolved easier … when the EU finds enough will to do this, they will know where to find us."
Financial Times
DOMINO EFFECT: Analysts at Moody’s say the ructions in China’s energy markets could disrupt supply chains across the Asia-Pacific region, which would also increase prices along the chain. Picture: Bloomberg/Qilai Shen
Power nightmares
Chinese coal futures rose to record levels as floods shut dozens of mines and displaced more than 100,000 people, throttling the country’s main source of the fuel for electricity and compounding a global energy crisis. Price volatility in global energy markets has sent countries scrambling to procure power supplies at ever-higher costs, while China’s policy confusion over its green energy goals has worsened its power shortages.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
GLOBAL MARKETS: Bury the hatchet
Bury the hatchet
The Kremlin’s ambassador to the EU has called on Europe to mend ties with Moscow to avoid future gas shortages, but insisted that Russia had nothing to do with the recent jump in prices. Vladimir Chizhov said he expected Gazprom, the state-controlled exporter that supplies 35% of European gas needs, to respond swiftly to instructions from President Vladimir Putin to adjust output. "Change adversary to partner and things get resolved easier … when the EU finds enough will to do this, they will know where to find us."
Financial Times
Power nightmares
Chinese coal futures rose to record levels as floods shut dozens of mines and displaced more than 100,000 people, throttling the country’s main source of the fuel for electricity and compounding a global energy crisis. Price volatility in global energy markets has sent countries scrambling to procure power supplies at ever-higher costs, while China’s policy confusion over its green energy goals has worsened its power shortages.
Financial Times
ANDREAS KLUTH: Vladimir Putin, Viktor Orban strive to make most of Europe’s energy crisis
GIULIETTA TALEVI: Energy markets gone mad
JAMIE CARR: The winter of Putin’s content
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