Watt’s Happening aims to provide breaking news, sharp analysis, and thoughtful commentary from the cutting edge of the energy sector as this dynamic area of the world continues to expand and grow before our eyes.
Weekly Highlights:
European Commission Pledges to Phase Out Russian Gas by the End of 2027
While the European Union imposed a ban on Russian oil imports in the wake of the invasion of Ukraine, a ban on Russian gas has remained elusive—until now. Recently, the EU unveiled a two-step plan to finally wean itself off of Russian gas by 2027. The first step in this process is ending new contracts with Russian suppliers by the end of 2025. “No more will we allow our member states to be blackmailed. No more will we indirectly help fill up the war chest in the Kremlin,” pledged EU Energy Chief Dan Jorgensen.
Czech Court Blocks KHNP Nuclear Plant Deal
After receiving a complaint from the French utility company EDF, a Czechian court has issued an injunction stopping the Czechian energy company ČEZ from signing a €16 billion contract with South Korea’s Korea Hydro & Nuclear Power (KHNP) at the Dukovany nuclear power plant, located in southern Czechia. While this isn’t the first injunction imposed on the project—an earlier one involved American energy company Westinghouse and concerned intellectual property rights regarding KHNP’s use of Westinghouse’s technology in its reactors—the first reactor is still scheduled for completion by 2036.
The Saudi Oil Pivot Continues
On May 3, OPEC+ continued to accelerate the pace of ending the production cuts that have been in place since 2020. That’s not new. Everyone expected that. What has changed is that Saudi Arabia is no longer banking on strong global demand growth to make up for the drop in supply. Not only has demand barely risen, but non-OPEC+ suppliers have managed to fill the gap left behind by OPEC+’s retreat. To read the latest TNI analysis, go here.
Seventeen States go to Court Over President Trump’s Halt of Wind Power Projects
Calling the president’s constitutional authority to halt projects like Equinor’s Empire Wind, as well as the massive cost in jobs, already-invested dollars, green energy and well-being, seventeen states and the District of Columbia have sued the Trump administration over the president’s executive order halting the permitting process for new wind power projects on charges that the Biden administration didn’t do their due diligence in the approval process.
Syria Attempts to Court Trump With Oil
New Syrian President Ahmed al-Sharaa has been given the task of both rebuilding the country after years of civil war and convincing the world that he has stepped away from his Islamicist roots and aims to build a more inclusive Syria. By courting American oil companies and winning over the Trump administration, President al-Sharaa has achieved his goal of getting American sanctions against the regime dropped. To read the latest TNI analysis, go here.
About the Author: Toni Mikec
Toni Mikec is the Managing Editor for Energy World, a publication of the Center for the National Interest. Before that, he worked as a political consultant for Your Voter Guide in Sacramento and as a Senior Editor at Eagle Financial Publications in Washington DC. He holds a B.A. in International Relations (summa cum laude) from the University of California, Davis and a M.A. in International Relations and International Economics from the Johns Hopkins School of Advanced International Studies.
Image: Shutterstock/jamesteohart
