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EU Issues Guidance on Russian Gas Payments in Rubles

The European Union has softened its stance on the purchase of Russian gas and oil, as it released a series of guidelines for European companies to purchase fuel from the country and avoid breaching sanctions on Monday. The bloc proposed...

Greek Shipper to Provide Germany with Liquified Gas Storage Facilities

A Greek shipping company has struck a deal this week with Germany to provide two floating liquified gas units as Berlin tries to reduce its reliance on Russian gas. George Prokopiou’s Dynagas Ltd signed the agreement for the storage and...

Biden, EU Agree Gas Deal to Curb Reliance on Russia

US President Joe Biden and the EU President Ursula von der Leyen announced on Friday a major deal on liquified natural gas, in an attempt to reduce Europe's reliance on Russian energy. The agreement will see the US provide the...

Inflation in Greece Soars by 7.2% Following Rise in Electricity, Fuel

Greece's annual inflation rate soared by 7.2% in February compared to 6.2% in January, which has accelerated a trend that has followed the COVID-19 pandemic and now the Russia-Ukraine conflict, official statistical data released Thursday indicates. The surge in consumer...

Gas Prices in Greece: Cheaper to Fly to Paris Than Drive to Thessaloniki

Gas prices have risen so much in Greece -- just as they have in the rest of the world -- that it is cheaper for an Athenian to take a flight to Paris than to drive to the northern...

Gas Prices Reach New Highs in US in Wake of Ukraine War

The average price of gas in the US passed $4 this weekend, making it the first time gas prices had reached such heights since 2008. The war in Ukraine has fueled the price jump, as Russia is currently the third-largest...

Greece in Race to Reduce Energy Dependence on Russia

Greece is in a race to reduce energy dependence on Russia following Moscow's invasion of Ukraine, Prime Minister Kyriakos Mitsotakis said on Tuesday. Speaking in Parliament Mitsotakis said: “We cannot rule out attempts by Russia to blackmail. We all realize...

Stocks Plunge, Oil Soars as Markets Reel From Ukraine Invasion

Global stocks plunged, while oil soared after Russian President Vladimir Putin launched a military attack on Ukraine, on Thursday. Putin's moves drew universal condemnation from the West, making punishing sanctions all but certain. "The world is shocked as Russia launches...

Nord Stream 2 Pipeline Nixed by Germany after Russian Invasion

German Chancellor Olaf Scholz called a halt to the Nord Stream 2 Baltic Sea gas pipeline project on Tuesday as a result of Russia's invasion of two separatist regions of Ukraine. Originally meant to enable a doubling of the amount...

East Med Gas Feasible Only Through Turkey, Erdogan Says

The EastMed pipeline project, which aimed to bring natural gas from Israel directly to Europe cannot become a reality without Turkey, Turkish President Recep Tayyip Erdogan said on Monday. “This is not a project that can be materialized. They (the...