Germany and the Netherlands are pushing for Europe to cut back its energy use more drastically to save money this winter.
The two countries are pressing for deeper energy savings as an alternative to a Europe-wide price cap on gas.
They also urged Europe to make progress on signing joint gas contracts, in the hope that suppliers such as Norway and the US will offer a lower price.
The crisis is playing out against the backdrop of Russia’s invasion of Ukraine and Moscow’s resulting energy standoff with the EU.
Energy ministers from the European Union’s 27 countries were discussing how to navigate the energy crisis at a meeting in Prague on Wednesday.
The question of limiting gas prices has divided the EU, with at least 15 members demanding a wholesale cap.
Others argue that capping the price would reduce Europe’s buying power on the world market, putting supplies in doubt.
Norway, a non-EU member which is one of the bloc’s main gas suppliers, said on Wednesday that it would not recommend setting a cap.
“Everybody agrees that prices now are insane,” said Roberto Cingolani, Italy’s Minister for Ecological Transition.
“But of course there are different possible solutions. We agree on the diagnosis, the therapy is still under discussion.”
German and Dutch diplomats circulated a paper suggesting measures to calm energy markets without imposing a cap.
They include joint purchasing to bring the EU’s market power to bear on the world market, an idea first proposed in March.
Fatih Birol, the head of the International Energy Agency, told EU ministers in Prague that they should already start turning their attention to filling up gas stocks next summer in preparation for another energy crunch in 2023/24.
Austria suggested Norway and the US, both Nato members, could agree to lower prices in the spirit of western solidarity in the face of Russian pressure.
“We need to finally step up and implement the common purchasing of gas,” said Sven Giegold, Germany’s representative at the talks.
The German and Dutch plan also calls for further measures to reduce demand, going beyond a voluntary 15 per cent cut in gas consumption agreed in July.
Germany said any cap on prices should not eliminate incentives for consumers to use less energy this winter.
The Netherlands said it would like to see more binding targets after claiming success in reducing its own consumption.
Gas usage in the Netherlands has fallen by 25 per cent this year, although this is not all good news because it comes partly from lower industrial production, said Dutch Climate and Energy Minister Rob Jetten.
Germany’s gas-saving measures have had less of an impact so far, with household consumption above average in recent weeks.
“We want to have substantial efficiency that can last for several years,” Mr Jetten said.
“I think every country should do its best to get this 15 to 20 per cent energy efficiency.”
European Commission President Ursula von der Leyen is expected to set out detailed proposals before EU leaders meet in Brussels next week.
Ms von der Leyen supports joint purchasing and a partial price cap on gas to reduce the cost of generating electricity.
But anything the commission proposes will have to be passed by all member states, including typically obstinate Hungary which is opposed to a price cap.
Hungarian Foreign Minister Peter Szijjarto said the EU should heed Russia’s warning that it would cut off gas altogether if the price is capped.
“We will not support any proposals which would endanger the safety of supply,” Mr Szijjarto said.
Russian exports via the Nord Stream 1 pipeline came to a halt in September, while the parallel Nord Stream 2 has yet to go into operation.
Both Nord Stream pipelines were hit by leaks last month in apparent acts of sabotage that put them beyond use for the foreseeable future.
Poland on Wednesday announced a leak on the Druzhba oil pipeline that connects Russia to central Europe, but officials said it appeared to be an accident rather than sabotage.
Germany said its eastern refineries were still receiving oil and that its energy security was not affected.
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
The Cockroach
(Vintage)
Ian McEwan
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Mountain%20Boy
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Zainab%20Shaheen%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Naser%20Al%20Messabi%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3C%2Fstrong%3E%3A%203%2F5%3C%2Fp%3E%0A
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
'Fantastic Beasts: The Secrets of Dumbledore'
Rating: 3/5
Directed by: David Yates
Starring: Mads Mikkelson, Eddie Redmayne, Ezra Miller, Jude Law
Killing of Qassem Suleimani
PROFILE OF SWVL
Started: April 2017
Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh
Based: Cairo, Egypt
Sector: transport
Size: 450 employees
Investment: approximately $80 million
Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Cricket World Cup League 2 Fixtures
Saturday March 5, UAE v Oman, ICC Academy (all matches start at 9.30am)
Sunday March 6, Oman v Namibia, ICC Academy
Tuesday March 8, UAE v Namibia, ICC Academy
Wednesday March 9, UAE v Oman, ICC Academy
Friday March 11, Oman v Namibia, Sharjah Cricket Stadium
Saturday March 12, UAE v Namibia, Sharjah Cricket Stadium
UAE squad
Ahmed Raza (captain), Chirag Suri, Muhammad Waseem, CP Rizwan, Vriitya Aravind, Asif Khan, Basil Hameed, Rohan Mustafa, Kashif Daud, Zahoor Khan, Junaid Siddique, Karthik Meiyappan, Akif Raja, Rahul Bhatia
Libya's Gold
UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.
The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.
Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.
A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.
Two-step truce
The UN-brokered ceasefire deal for Hodeidah will be implemented in two stages, with the first to be completed before the New Year begins, according to the Arab Coalition supporting the Yemeni government.
By midnight on December 31, the Houthi rebels will have to withdraw from the ports of Hodeidah, Ras Issa and Al Saqef, coalition officials told The National.
The second stage will be the complete withdrawal of all pro-government forces and rebels from Hodeidah city, to be completed by midnight on January 7.
The process is to be overseen by a Redeployment Co-ordination Committee (RCC) comprising UN monitors and representatives of the government and the rebels.
The agreement also calls the deployment of UN-supervised neutral forces in the city and the establishment of humanitarian corridors to ensure distribution of aid across the country.
Ruwais timeline
1971 Abu Dhabi National Oil Company established
1980 Ruwais Housing Complex built, located 10 kilometres away from industrial plants
1982 120,000 bpd capacity Ruwais refinery complex officially inaugurated by the founder of the UAE Sheikh Zayed
1984 Second phase of Ruwais Housing Complex built. Today the 7,000-unit complex houses some 24,000 people.
1985 The refinery is expanded with the commissioning of a 27,000 b/d hydro cracker complex
2009 Plans announced to build $1.2 billion fertilizer plant in Ruwais, producing urea
2010 Adnoc awards $10bn contracts for expansion of Ruwais refinery, to double capacity from 415,000 bpd
2014 Ruwais 261-outlet shopping mall opens
2014 Production starts at newly expanded Ruwais refinery, providing jet fuel and diesel and allowing the UAE to be self-sufficient for petrol supplies
2014 Etihad Rail begins transportation of sulphur from Shah and Habshan to Ruwais for export
2017 Aldar Academies to operate Adnoc’s schools including in Ruwais from September. Eight schools operate in total within the housing complex.
2018 Adnoc announces plans to invest $3.1 billion on upgrading its Ruwais refinery
2018 NMC Healthcare selected to manage operations of Ruwais Hospital
2018 Adnoc announces new downstream strategy at event in Abu Dhabi on May 13
Source: The National
Killing of Qassem Suleimani
COMPANY PROFILE
Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed
