If Ukraine doesn't pay for its February natural gas deliveries in full, the country could end up owing Russia's Gazprom some $2 billion, Russian President Vladimir Putin said Tuesday, according to Reuters.
MOSCOW (AP) — Russian President Vladimir Putin said Moscow reserves the right to use all means to protect Russians in Ukraine as U.S. Secretary of State John Kerry was on his way to Kiev. Tensions remained high in the strategic Ukrainian peninsula of Crimea with troops loyal to Moscow firing warning shots to ward off protesting Ukrainian soldiers.
In his first comments since Ukraine President Viktor Yanukovych fled Kiev, Putin said he considers him to still be Ukraine's leader, and hopes that Russia won't need to use force in predominantly Russian-speaking eastern Ukraine.
He rejected the Western threat to punish Russia with sanctions over its action in Ukraine, saying they will backfire against the West.
With a mild winter easing demand and inventories 49 percent full, Europe has enough natural gas stockpiled to handle any potential disruption in supplies coming from Ukraine for around 45 days, Bloomberg reports.
BINGHAMTON, N.Y. (AP) — A new coalition of labor groups, farmers, landowners and businesses from New York counties along the Pennsylvania border is calling on state officials to lift the nearly 6-year-old moratorium on shale gas development.
Binghamton attorney Scott Kurkoski says Monday that the coalition called Southern Tier Residents for Economic Independence favors well-regulated, responsible development of natural gas resources.
The coalition is similar in makeup to the now-defunct Clean Growth Now, formed several years ago for the same purpose.
Some Republican lawmakers, including leaders of two congressional energy committees, are calling on President Barack Obama to expand U.S. energy exports, with one criticizing the administration's deliberate pace of liquefied natural gas export approvals given the deepening crisis over Ukraine.
"The Department of Energy's approval process for LNG exports is unnecessarily putting our allies at the mercy of Vladimir Putin," said House Energy and Commerce Chairman Fred Upton, R-Mich., in a statement late Monday.
KIEV, Ukraine (AP) — Russia called for the adoption of a national unity deal in Ukraine even as it tightened its stranglehold over Crimea, an audacious combination of diplomacy and escalating military pressure. The U.S. and European Union floundered for solutions — while global markets panicked over the prospect of violent upheaval in the heart of Europe.
Fears grew that the Kremlin might carry out more land grabs in pro-Russian eastern Ukraine, adding urgency to Western efforts to defuse the crisis. U.S. Secretary of State John Kerry was heading to Kiev in an expression of support for Ukraine's sovereignty, and the EU threatened a raft of punitive measures as it called an emergency summit on Ukraine for Thursday.
Citing concerns about Ukraine's ability to pay for the natural gas it imports, Russia's Gazprom said it is reviewing whether to extend its contract with the country at the current pricing, The Wall Street Journal reports.
PHILADELPHIA (AP) — The mayor on Monday announced an agreement to sell the city-owned gas utility to UIL Holdings Corp. for $1.86 billion and using some of the proceeds to prop up its distressed pension fund.
Mayor Michael Nutter said the deal, which requires the approval of City Council and state utility regulators, would inject at least $424 million into the city's pension fund, which is now less than 50 percent funded.
Natural gas prices gained for a second day, Bloomberg reports -- gaining 2.8 percent in New York, well over $4.70 per million Btu, as a winter storm is expected to slam the Northeast and mid-Atlantic states and worries grow in Europe over the fate of Ukraine.
Americans support construction of the Keystone XL pipeline by a margin of nearly 3-to-1, although many have concerns about its environmental impact, according to a new poll commissioned by ABC and The Washington Post, the Post reports.
The major concern for the world's top oil company executives, gathered in Houston for the CERAWeek conference this week, appeared to be the soaring costs of exploration and production, The Wall Street Journal reports.
Administrator Gina McCarthy wouldn't say whether the EPA might consider a carbon rule for refineries, telling the CERAWeek conference Thursday that her agency's focus now remains on power plants, National Journal reports.
Oil companies aren't publishing all of the information they should in the FracFocus registry, according to a draft report by an Energy Department advisory panel, which also found errors in some of the data, FuelFix reports.