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EU moves ahead with plans to buy gas jointly and secure lower prices

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EU moves ahead with plans to buy gas jointly and secure lower prices

The European Union is transferring forward with novel plans to purchase gasoline collectively in a bid to leverage the bloc’s buying energy and safe decrease costs from worldwide suppliers.

The scheme was accredited in mid-December as a part of a broader raft of emergency measures to fight the vitality disaster. However in contrast to most of those measures, the collective purchases have but to be rolled out and yield any tangible impact for households and firms.

Brussels is stepping up the work to have the system up and working by summer season when member states are anticipated to begin refilling their underground gasoline storage – a concentrated push that final yr despatched costs to astronomical highs by no means seen earlier than.

Costs have since steadily decreased and are now hovering at €47 per megawatt-hour, much like the degrees seen earlier than Russia launched the full-scale invasion of Ukraine however exceptionally elevated in comparison with pre-pandemic developments.

“The worth of gasoline within the EU stays inflated. As an example, it’s nearly seven instances larger than in america,” mentioned Maroš Šefčovič, the European Fee Vice President tasked with steering the joint procurement.

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“This naturally impacts Europe’s competitiveness and the price of residing for our residents.”

The struggle has compelled EU international locations to instantly abandon their vitality dependence on Russian fossil fuels and do no matter is critical to diversify gasoline suppliers, even when comes with a hefty price ticket.

Liquefied pure gasoline (LNG) from america, Qatar and Nigeria, along with boosted pipeline flows from Norway and Algeria, have emerged because the main options to interchange Moscow.

However these producers, notably LNG merchants, are sought-after all world wide, resulting in tight provides and steep charges.

The European Fee needs to collect all member states collectively in a standard enterprise to purchase gasoline and stop competitors from fuelling costs additional up.

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Nations can be required to pool a minimum of 15% of their storage obligations into an digital platform, which can then match corporations with worldwide suppliers in line with their wants.

Each LNG and pipeline gasoline can be up for grabs.

Following Thursday’s assembly with nationwide representatives, Vice-President Šefčovič mentioned the aggregated gasoline demand can be between 23 and 24 billion cubic metres (bcm) unfold over the subsequent three years.

5 member states, which Šefčovič didn’t title, haven’t but notified the volumes they want to purchase.

In complete, the bloc has the capability to maintain round 100 bcm of gasoline underground and a mandate to fill underground amenities by 90% earlier than the beginning of subsequent winter. The saved gasoline is a necessary backup to forestall shortages and blackouts when chilly temperatures set off spikes in demand.

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“Now we have to be completely vigilant, positively not complacent, as a result of we’re residing in a really troublesome interval the place now we have struggle in Ukraine. We’re in a time of very tight markets,” Šefčovič informed reporters.

“Now we have to work with sure reserves. Now we have to make certain that we is not going to face the identical dilemmas as (we did) the final yr in terms of the safety of provide.”

Below the joint platform, European corporations can be allowed to purchase gasoline both individually or by consortia with different companies. The scheme may even provide the potential of assigning one firm as a “central purchaser” to steer the negotiations on behalf of the others.

Brussels thinks this cooperation will assist smaller and landlocked international locations safe extra inexpensive costs as they might in any other case do on a bilateral foundation, though it stays to be seen how low costs will go given the tight market situations.

“The worldwide LNG market is predicted to stay risky attributable to restricted volumes of recent LNG turning into out there, the potential rebound of the Chinese language economic system and drastically lowered imports of Russian pipeline gasoline to Europe, which helped us fill storages final yr,” Šefčovič mentioned on Thursday.

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“Due to this fact, I consider we should always make full use of the EU Power Platform for joint gasoline buying – not solely to guard ourselves towards gasoline shortages but additionally to sort out excessive vitality costs.” 

The platform can be restricted to aggregation of demand and matching with suppliers. Contracts can be really negotiated outdoors of the mechanism, with a most period of 12 months.

Nations, nonetheless, will solely have a authorized obligation to combination demand and can be entitled to reject the worth supplied by the provider if it fails to match their expectations.

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CBS Fall Schedule: Tracker on Move, Georgie & Mandy Claim Sheldon’s Spot, Matlock Replaces Todd

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CBS Fall Schedule: Tracker on Move, Georgie & Mandy Claim Sheldon’s Spot, Matlock Replaces Todd


CBS Fall Schedule 2024: Tracker, Young Sheldon Spinoff, NCIS: Origins



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Head of Greek far-right Golden Dawn party is granted early release from prison

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Head of Greek far-right Golden Dawn party is granted early release from prison

The head of Greece’s extreme far-right Golden Dawn party was granted conditional early release from prison Thursday, after serving part of his sentence for running a criminal organization blamed for violent hate crimes.

A council of judges accepted the request by Nikolaos Michaloliakos, 66, who had served the minimal legal requirement for early release. The decision also took into consideration that he was aged over 65, which increases the time he is formally considered to have served. He is in poor health and spent 18 months in pre-trial detention.

GREECE’S FAR-RIGHT GOLDEN DAWN, COUNTER-DEMONSTRATORS, CLASH IN ATHENS

Restrictions imposed on him include a ban on traveling outside the greater Athens region.

Nikos Michaloliakos, the leader of the extreme far-right Golden Dawn political party speaks during a pre-election rally, in Athens, Wednesday, Sept. 16, 2015. The head of Greece’s extreme far-right Golden Dawn party was granted conditional early release Thursday, May 2, 2024, from prison, after serving part of his sentence for running a criminal organization blamed for numerous violent hate crimes. A council of judges accepted the request by Michaloliakos, 66, who had served the minimal legal requirement for conditional release, which also took into consideration his age.  (AP Photo/Lefteris Pitarakis)

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Michaloliakos and five other former Golden Dawn lawmakers were convicted in October 2020 of running a criminal organization and sentenced to 13 years in prison. Other party members received lesser sentences, following a five-year trial.

Golden Dawn was founded as a Nazi-inspired group in the 1980s and rose to become Greece’s third-largest political party during most of the country’s 2010-2018 financial crisis. Its support later declined, and the party failed to enter parliament post-crisis.

The crackdown on the party followed the 2013 fatal stabbing of a left-wing musician in Athens, for which a Golden Dawn associate was given a life sentence.

Greek political parties and the family of the slain musician expressed dismay at Thursday’s decision.

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UN, EU, US urge Georgia to halt ‘foreign agents’ bill as protests grow

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UN, EU, US urge Georgia to halt ‘foreign agents’ bill as protests grow

Thousands gather in Tbilisi to protest against the bill, which passed its second reading in parliament this week.

The European Union, United Nations, and the United States have condemned legislation making its way through Georgia’s parliament on “foreign agents”, as thousands of protesters snarled traffic in the country’s capital Tbilisi on Thursday with a large new protest against the bill.

Protesters poured into Heroes’ Square, a key junction through which much of Tbilisi’s traffic passes between the city’s neighbourhoods. Long queues of vehicles remained blocked.

“We are all together to show the Kremlin’s puppets that we will not accept the government that goes against the Georgian people’s wishes,” said protester Giorgi Loladze, 27, from Kutaisi, Georgia’s third-largest city.

Tens of thousands of protesters had shut down central Tbilisi a day earlier in the largest anti-government rally yet. Police fired tear gas and stun grenades to clear some of them.

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The bill – attacked by opponents as authoritarian and Kremlin-inspired – has completed two of three readings in the parliament and the latest comments reflected alarm in both Washington and Brussels over the country’s future direction.

The ruling Georgian Dream party says the law, which would require organisations receiving more than 20 percent of their funding from abroad to register as agents of foreign influence, is needed to ensure transparency.

The party’s billionaire founder said this week that Georgia must defend its sovereignty against Western attempts to dictate to it.

Crowds have protested nightly for weeks outside the parliament in Tbilisi. Inside the building, lawmakers have come to blows.

‘Deeply concerned’

The standoff is seen as part of a wider struggle that could determine whether Georgia, a country of 3.7 million people that has seen war and revolution since the fall of the Soviet Union, moves closer towards Europe or back under Moscow’s influence.

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Gert Jan Koopman, director general of the European Commission’s enlargement directorate, reiterated the EU’s warning that the bill would put at risk Georgia’s hopes of becoming a member of the bloc.

“There are concerning developments in terms of legislation. The law … as it stands is unacceptable and will create serious obstacles for the EU accession path,” he told a news conference in Tbilisi.

Koopman said “the ball is very firmly in the court of the government”, adding it still had time to change course.

But the government – which put forward a similar law last year, only to withdraw it in the face of protests – has shown no sign it will climb down a second time, which could be damaging ahead of a parliamentary election in October.

Police officers lead a demonstrator away as people hold a rally to protest against a bill on ‘foreign agents’ in Tbilisi, Georgia [Irakli Gedenidze/Reuters]

UN rights chief Volker Turk on Thursday called on Georgia’s government to withdraw the bill and expressed concern at police violence against protesters.

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The White House also expressed concerns on Thursday about the chilling effect such legislation could have on Georgians’ ability and willingness to express themselves.

“We are deeply concerned about this legislation – what it could do in terms of stifling dissent and free speech,” White House national security spokesman John Kirby said at a US briefing.

Earlier, US Ambassador Robin Dunnigan said the Georgian government’s choices “have moved the country away from its Euro-Atlantic future” and urged it to recommit to integration with the West.

In a statement, Dunnigan said that senior US leaders had invited Georgia to discuss the issue, but that the country had not accepted the offer.

Britain, Italy and Germany have also criticised the bill.

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Georgia’s parliament on Wednesday approved the second reading of the bill, which the opposition says is modelled on a law the Kremlin has used to crack down on opponents in Russia.

Parliamentary debates on Thursday were cancelled after what officials called an “attack” on the legislature.

Georgian television on Thursday showed Tbilisi’s Mayor Kakha Kaladze berating a reporter who asked him about police actions at Wednesday’s protest, calling her a “shameless scumbag”.

Lawmakers are expected to give the bill its third and final reading in around two weeks.

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