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California's Independent System Operator (ISO) warned of high temperatures and increased electricity usage during the coming week as the grid operator prepares for tight conditions works to ensure adequate supply.
Pakistan’s June tender for LNG imports received no bids, suggesting the country’s already parlous gas supply position could worsen in the near term. However, longer term, the country is looking to Central Asia, both to meet its own gas needs and potentially enter the LNG market as an exporter. [Gas in Transition, Volume 3, Issue 7]
how a taiwanese firm plans to shake up the world of two—wheeled transport with a cheaper, greener alternative to polluting motorbikes. hello. i'm tadhg enright here with your top business stories. let's start in australia, where workers at the country's lng plants — those that produce liquefied natural gas — will decide this week if they will go on strike over pay and employment rights. european natural gas prices surged almost 40% last wednesday when the strike action was first announced. demand and reliance on lng has grown, especially since the russian war in ukraine has made countries seek out other energy supplies rather than russia's. if more of these proposed strikes take place, then europe could face an energy crisis.
rather than russia's. now, if the proposed strikes take place, then europe could face an energy crisis. the international energy agency has revealed that lng now makes up 35% of europe's energy supplies — not far off the 40% contribution that russia made, before it was sanctioned over ukraine. nitesh shah is head of commodities and macroeconomic research at wisdomtree europe. thank you forjoining us here on the programme. we are waiting obviously to hear the outcome of whether these strikes take place or not but the fallout could well be significant? yes, the relative calm in the global national gas market has been broken by this threat of strikes in australia and it's largely because europe has become much more reliant
the international energy agency has revealed that lng now makes up 35% of europe's energy supplies, not far off the 40% contribution that russia made before it was sanctioned over ukraine. joining me now is ben mcwilliams, who's an affiliate fellow at bruegel. thank you very much for being with us today. what are your concerns about where gas prices could go if these workers do indeed strike? this is certainly a concern, but to be clear up front, nothing comparable to last year. the position we are in is that, as you mentioned, as russian pipeline supplies have been cut over the last 12 months, the eu and uk have become more dependent on liquefied national gas. —— —— natural gas. australia
live now to kurt volker, former us ambassador to nato and former us special envoy for ukraine. thank you very much forjoining us. can you give us a sense of how optimistic you are that these talks will yield results?— optimistic you are that these talks will yield results? well, it depends what ou will yield results? well, it depends what you mean _ will yield results? well, it depends what you mean by _ will yield results? well, it depends what you mean by results. - will yield results? well, it depends what you mean by results. i - will yield results? well, it depends what you mean by results. i think. what you mean by results. i think that there is zero chance of these talks will result in any kind of peace in ukraine. but, i don't think thatis peace in ukraine. but, i don't think that is the point. i think that the point is that the global south, many of the members of the global community, they have been on the sidelines when it comes to russia's aggression towards ukraine. they have been taking more of the neutral stance. and, this was really an opportunity to bring those countries together, and for ukraine to address him directly, to explain what is actually happening, and to explain how russia's aggression against ukraine is actually having global implications, whether it is on energy supplies, implications, whether it is on energy supplies, foodstuffs, inflation... so, |d°
to explain what is actually happening, and to explain how russia's aggression against ukraine is actually having global implications, whether it is on energy supplies, implications, whether it is on energy supplies, foodstuffs, invasion, and so forth. so, i do think that there will be an important result of this, which might be a more sympathetic view in more of the global community towards ukraine. and also, towards the needs of russia to end the war. it is interesting — of russia to end the war. it is interesting in _ of russia to end the war. it is interesting in what _ of russia to end the war. it is interesting in what you - of russia to end the war. it is interesting in what you say, that countries on the sidelines are now being brought deep into the conversation. and encouraged to take on new and less neutral stance. how do you think ukraine will be approaching making that bid? having that conversation? i approaching making that bid? having that conversation?— that conversation? i think that they will be making _ that conversation? i think that they will be making their _ that conversation? i think that they will be making their case _ that conversation? i think that they will be making their case very - will be making their case very clearly. i think it will be partly just presenting people with the facts and information. they will be telling them about attacks on civilians, russia's continuing bombing of ukrainian cities, abducted children. russia hasjust announced that they have abducted
energy supplies, foodstuffs, inflation... so, i do think that there will be an important result from this, which may be a more sympathetic view, in more of the global community, towards ukraine, and towards wanting russia to end the war. ht and towards wanting russia to end the war. , , ., , ., the war. it is interesting what you make in your _ the war. it is interesting what you make in your point, _ the war. it is interesting what you make in your point, about - the war. it is interesting what you l make in your point, about countries on the sidelines being brought deep into the conversation and encouraged to take a less neutral stance. how do you think ukraine will be approaching making that bid? having that conversation? t approaching making that bid? having that conversation?— that conversation? i think they are makin: that conversation? i think they are making their _ that conversation? i think they are making their case _ that conversation? i think they are making their case very _ that conversation? i think they are making their case very clearly. - that conversation? i think they are making their case very clearly. i i making their case very clearly. i think it will hardly be presenting people with the facts and information about the attacks on civilians, about russia's continuing bombing of ukrainian cities, about abducted children. russia has announced that they have abducted almost 700,000 ukrainian children. these are the kinds of things that i think will make some impression. and especially, the impact on global food supplies. where russia has explicitly threatened to attack ships carrying grain to the world.
people should be paid compensation if new electricity pylons are built near their homes — that's according to a government commissioned review on energy supplies. the report says the planning process should be streamlined to halve the time it takes to install new power lines — currently between 12 and 1a years. here's our political correspondent, ione wells. they've been dubbed the motorways of power. power lines like this transport electricity from where it is made to where it is used. but the grid that connects them is very congested. the government and labour have pledged to ramp up offshore wind and other forms of renewable energy, which needs to get onto land. more electric transport and heating
speaking in aberdeen today, was his claim that the deal would deliver energy security, defending the public against the disruption of global energy supplies — something the shadow climate change secretary ed miliband refuted. we'll discuss with the conservatives and labour in a moment — first here's kate. we've been getting oil and gas from the north sea since the 19705. today, even without politics, production is in decline. principally because the gap between what's been used and what's left has shrunk significantly. grant shapps, secretary of state for energy security and net zero, has said he wants to "max out" these small but symbolic reserves — including issuing hundreds of new oil and gas licences. one reason, he suggests, is energy bills. now, it can take decades between a licence being issued and fossilfuels being produced. but even then, the impact on household finances is likely negligible. oil and gas prices are set internationally. and all the uk reserves wouldn't be large enough to distort those global markets. here's conservative chairman greg hands saying exactly that last year when he