Tag Archives: europe

Europe’s Final Hope For Energy Independence From Russia

Europe’s reluctance towards reliance upon Russian natural gas trade is no secret. It’s also no surprise, due to fallouts between Russia and Ukraine (a major transit country for the trade) in 2006, 2009 and 2014. Currently Russia and Ukraine do not even have a bilateral gas trade, but Russian gas is transported through Ukrainian pipelines to Europe, only to be resold to Ukraine by E.U. countries in “reverse-flow” deals. This doesn’t sound like a stable system, considering the reliance of Europe’s gas supply upon these Ukrainian pipelines (European supplies were cut by 30 percent in […]

Shell Shareholders OK $49 Billion Deal to Buy UK Rival BG

January 2016, Vol. 243, No. 1

LONDON (AP) — Royal Dutch Shell shareholders have overwhelmingly backed the $49 billion bid to buy BG Group, despite a slide in oil prices that have had some critics wondering about the wisdom of the mega-deal. More than 80% of shareholders approved the move on Wednesday. The deal will boost Shell’s oil  and gas reserves by 25% and increase its presence in the fast-growing liquefied natural gas market. BG shareholders vote on the offer Thursday. If approved, the deal’s final value will be determined Feb. 15. Shell CEO Ben Van Beurden says he’s delighted with the “confidence […]