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  • Chart: LNG in Europe: Ready or Not?

    One of Europe's answers to the crisis is the increase of liquefied natural gas (LNG) imports. Circumventing the use of pipelines from the east, LNG terminals open up a wider variety of potential suppliers. One of the main benefactors of this shift so far has been United States. In the first half of 2022, the U.S. became the world's largest LNG supplier, with 71 percent of its exports going to the EU and the UK.

  • Beirut ‘neighbourhood watch’ echoes troubled past | Reuters

    In the darkness of Beirut's unlit streets, men wielding batons and torches are taking security into their own hands in an initiative they hope will keep neighbourhoods safe but critics see as a worrying echo of Lebanon's troubled past. The neighbourhood watch, launched earlier this month in some of Beirut's most salubrious streets, is the latest symptom of the crisis that has afflicted Lebanon since its economy collapsed in 2019, paralysing much of the state and fuelling poverty in the worst shock since the 1975-90 civil war.

  • Deutsche Bank Targets Asia, Middle East for Wealth Ambitions

    The head of international private banking at the German lender plans to “significantly invest” in the Middle East and Southeast Asia to tap an expansion of wealth and flow of funds to the regions. De Sanctis singled out markets such as Saudi Arabia and Indonesia -- where resource-rich governments are spending heavily -- as key markets for expansion.

  • Europe to be hit hardest in global slowdown -OECD

    The global economy should avoid a recession next year but the worst energy crisis since the 1970s will trigger a sharp slowdown, with Europe hit hardest, the OECD said, adding that fighting inflation should be policymakers' top priority. National outlooks vary widely, although Britain's economy is set to lag major peers, the Organisation for Economic Cooperation and Development said on Tuesday.

  • Egypt Dims the Lights in Cairo to Free Up More Gas for Europe

    The Egyptian government started this summer to direct the scaling back of domestic electricity consumption, reducing lighting in some streets, squares and other public areas, as well as in shops and government buildings. The aim is to try to lower the amount of natural gas needed for generating electricity by 15% and ship that surplus to buyers in Europe, who are paying top dollar for liquefied natural gas.

  • Opinion: There’s a $15 Solution to the US-Saudi Oil Feud

    The optimal outcome is an oil-price range that Texas can rely on, Washington can stomach and Riyadh can live with. On that basis, a market in which Riyadh knows Washington would release strategic barrels when the price hits, say, $100 but buy them back when it sinks to, say, $75 — and where Riyadh also works toward maintaining that band — could foster a more stable relationship.

  • Saudi Arabia targets Europe, Asia-Pacific in global hydrogen push

    Saudi Arabia has set its sights on becoming a global supplier of renewable and low-carbon hydrogen, configuring production standards to meet market requirements in both Europe and the Asia-Pacific region, the energy ministry's head of hydrogen, Zeid al-Ghareeb, said at the UN Climate Change Conference in Egypt Nov. 15.

  • Saudi Arabia targets Europe, Asia-Pacific in global hydrogen push

    Saudi Arabia has set its sights on becoming a global supplier of renewable and low-carbon hydrogen, configuring production standards to meet market requirements in both Europe and the Asia-Pacific region, the energy ministry's head of hydrogen, Zeid al-Ghareeb, said at the UN Climate Change Conference in Egypt Nov. 15.

  • ‘Usual tactics’: Euro, US diplomats see Iran dangle to avert IAEA censure as ‘too little, too late’

    “It’s clear that there has not been any game-changing moves presented by the Iranian side to make the Americans and the Europeans think that they can revamp the political track for restoring the JCPOA,” said Ellie Geranmayeh, senior fellow and deputy head of the Middle East program at the European Council for Foreign Relations, referring to the acronym for the nuclear pact, the Joint Comprehensive Plan of Action.

  • Europe’s energy crisis gives boost to green hydrogen

    “There has been a dramatic change in the price of [conventional] hydrogen sparked by the invasion of Ukraine by Russia,” says Mbuk. Whatever the outcome of the conflict, he adds, the result will be greater interest in expanding renewable energy sources, including green hydrogen. He calculates that roughly $73bn has been committed globally to produce green hydrogen since the start of the conflict. At current prices, hydrogen derived from clean power sources will be cheaper to produce in Europe than hydrogen from more polluting alternatives, he argues.