REUTERS - “Europe completely miscalculated when they assumed that they won’t need much additional gas and if they need some it can be supplied from outside Russia,” Medvedev, who looks after exports for the world’s top gas producer and exporter, said.
REUTERS - “The Ministry maintains that the Norwegian rules on reimbursement of exploration costs and interest on carry forward of losses ... do not constitute state aid under Article 61 of the EEA Agreement, and are therefore in compliance with the EEA (European Economic Area) law,” the ministry said in a letter.
BLOOMBERG - Norway’s $1.1 trillion wealth fund shocked the world last year when it announced a plan to divest all its oil and gas stocks, worth $35 billion at the time.
IAEA - An International Atomic Energy Agency (IAEA) team of experts said France demonstrated a comprehensive commitment to safety with a responsible approach to the management of radioactive waste and spent nuclear fuel. The team also made suggestions aimed at further enhancements and noted several good practices.
REUTERS - U.S. Secretary of State Rex Tillerson said in Warsaw on Saturday that the United States sees Nord Stream 2 as a threat to Europe’s energy security.
U.S.DT - The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today designated 21 individuals and 9 entities under four Executive Orders (E.O.s) related to Russia and Ukraine, including three individuals and two entities related to Russia’s transfer of four turbines made by a Russian-German joint venture to Crimea.
REUTERS -Speaking at the European Gas Conference in Vienna, Gazprom Chairman Viktor Zubkov said the company’s share of the European gas market, where it generates the majority of its revenue, rose last year to a record high of more than 35 percent, from about 33 percent in 2016.
BLOOMBERG - With crude back at $70 a barrel, and a petroleum industry that cut costs to the bone after the oil crash, the stage is now set for another boom. But the good times could hamper Prime Minister Erna Solberg’s main aim of moving the economy away from a reliance on oil. As optimism now returns to the economy, signs of real progress on that project are few.
BLOOMBERG - The expansion of Russia’s gas pipeline to Germany under the Baltic Sea, which bypasses a number of east European nations, will allow the Kremlin to use energy as a “political tool,” U.S. Secretary of State Rex Tillerson said in Warsaw.
WNA - France derives about 75% of its electricity from nuclear energy, due to a long-standing policy based on energy security. This share may be reduced to 50% by 2025. France is the world's largest net exporter of electricity due to its very low cost of generation, and gains over €3 billion per year from this. The country has been very active in developing nuclear technology. Reactors and especially fuel products and services have been a significant export. About 17% of France's electricity is from recycled nuclear fuel.