Gazprom UK trading arm’s chiefs seek buyout, Russian gas flows to Europe dip: NRG Wrap

Gazprom Energy supplies more than 20 percent of the gas used by British companies. (Getty)
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Updated 23 March 2022
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Gazprom UK trading arm’s chiefs seek buyout, Russian gas flows to Europe dip: NRG Wrap

Executives at Gazprom’s British trading arm have been exploring potential buyout possibilities from its Russian state-owned parent, as it teeters on the brink of insolvency, according to an exclusive report published on Sky News. 

Top officials including senior managers are apparently hatching plans to acquire the division, as large customers including Mcdonald’s and Siemens have already started seeking alternative suppliers to meet their energy needs. 

Gazprom Energy, the division’s UK trading firm name, supplies more than 20 percent of the gas used by British companies. 

Following the Ukrainian invasion, Gazprom CEO Alexei Miller was among several Russian oligarchs who were sanctioned by western countries including the UK, US, and Australia. 

The NHS in the UK has also confirmed it has stopped using energy supplied by Gazprom. 

Russian gas flows to Europe dip

Russian gas deliveries to Europe through the Nord Stream 1 pipeline across the Baltic Sea dipped slightly on Wednesday, while gas continued to flow eastwards from Germany into Poland along the Yamal-Europe pipeline.

Flows to Germany through Nord Stream 1 stood at 65,361,776 kilowatt-hours per hour by 0728 GMT, slightly down from 67,955,181 kWh/h at midnight, the Nord Stream website showed.

Eastbound flows into Poland from Germany along the Yamal-Europe pipeline were at 1,717,560 kWh/h at the Mallnow border point, down from 2,362,830 kWh/h at midnight, according to data from operator Gascade.

European natural gas edges higher

European natural gas edged higher on Wednesday as traders weighed potential sanctions on Moscow and their possible impact on Russian gas flows.

Dutch front-month futures rose 4.1 percent to $113 per megawatt-hour at 10:21 a.m. in Amsterdam, while the UK equivalent gained 4 percent.

Hungary rejects sanctions on Russian energy shipments

Hungary made it clear that it does not support any sanctions on Russian energy shipments as it would endanger the nation’s energy security. 

“It is not Hungary’s fault that natural gas and oil from Russia plays a big role in the energy supply of Hungary, Central Europe, and all of Europe,” said Hungary foreign minister Peter Szijjarto. 

China sets green hydrogen target for 2025

China’s top economic planner announced a target on Wednesday to produce up to 200,000 tons per year of green hydrogen, a zero-carbon fuel generated from renewable energy sources, by 2025 but envisions a more widespread industry over the long term.

The country aims to produce 100,000 tons to 200,000 tons of green hydrogen a year and have about 50,000 hydrogen-fueled vehicles by 2025, the National Development and Reform Commission said in a statement.

“Development of hydrogen is an important move for energy transition and a great support for China’s carbon peak and carbon neutrality goals,” said Wang Xiang, the deputy director of the High Technology Department at the NDRC, at a press briefing.

(With inputs from Reuters)

 


Over 3k flights cancelled across the Middle East after attack on Iran by the US, Israel

Updated 01 March 2026
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Over 3k flights cancelled across the Middle East after attack on Iran by the US, Israel

RIYADH: US and Israeli strikes on Iran led to widespread airspace shutdowns in the Middle East, canceling and rerouting thousands of flights and paralyzing key international travel corridors.

Flight cancellations affected seven airports across the Middle East, including Dubai and Abu Dhabi in the UAE, Doha in Qatar, and Manama in Bahrain.

Emirates Airlines said in a statement: “Due to multiple regional airspace closures, Emirates has temporarily suspended all operations to and from Dubai, up until 1500 hrs UAE time on Monday, 2 March.”

A flydubai spokesperson said the situation is evolving, and the airline is closely monitoring developments while coordinating with authorities to adjust its flight schedule.

“Our teams are working diligently to implement comprehensive welfare for all affected customers. The safety of our passengers and crew remains our highest priority,” the spokesperson said.

He added: “We are currently experiencing a high volume of calls and appreciate our customers’ patience while our teams work to assist everyone as quickly as possible.”

Qatar Airways announced that the airport will remain closed until at least the morning of March 2.

“Qatar Airways flights to, and from, Doha have been temporarily suspended due to the closure of Qatari airspace,” the airline said.

It added: “Qatar Airways will resume operations once the Qatar Civil Aviation Authority announces the safe reopening of Qatari airspace.”

Saudia also said in an official statement that it had canceled a number of flights due to developments in the region and the closure of airspace.

The organization said the decision was taken in line with aviation safety and security standards, noting that its Emergency Coordination Center is closely monitoring developments with relevant authorities.

Saudia urged passengers to verify the status of their flights before heading to the airport and said guests would be notified of updates through the contact details associated with their bookings.

The carrier added that further information would be announced in a subsequent statement if available.

Air Arabia also said its flights were experiencing cancellations, delays, or rerouting as a result of the evolving situation and airspace closures.

Airlines cited airspace closures and safety concerns as the main reasons for flight disruptions, urging passengers to check official channels for updates as the situation develops.

Israeli airspace also remained closed on March 1st. Israeli airline El Al said it was preparing a recovery effort to bring home Israelis stranded abroad once the airspace reopened.

Travelers were either stranded or diverted to other airports on Feb. 28 after Israel, Qatar, Syria, and Iran as well as Iraq, Kuwait and Bahrain, closed their airspace.

After the UAE announced a temporary partial airspace closure, FlightRadar24 recorded no flights over the country.

The closures affected key hub airports in Dubai, Abu Dhabi, and Doha. Emirates, Qatar Airways, and Etihad, airlines that operate from these hubs, normally handle around 90,000 passengers daily, with even more traveling to other Middle Eastern destinations, according to aviation analytics firm Cirium.

Airports hit by attacks

Two airports in the UAE reported incidents as the government there condemned what it called a “blatant attack involving Iranian ballistic missiles” on Feb.28.

Dubai International Airport, the UAE’s largest and one of the world’s busiest, reported four injuries, while Abu Dhabi’s Zayed International Airport said a drone attack killed one person and injured seven others. Strikes were also reported at Kuwait International Airport.

Though Iran did not publicly claim responsibility, the scope of retaliatory strikes that Gulf nations attributed to Iran extended beyond the US bases that it previously said it would target.

Flight delays, cancellations are likely to continue

“For travelers, there’s no way to sugarcoat this,” said Henry Harteveldt, an airline industry analyst and president of Atmosphere Research Group.

“You should prepare for delays or cancellations for the next few days as these attacks evolve and hopefully end,” he added.

To avoid conflict zones, airlines are rerouting Middle East flights over Saudi Arabia, adding hours and fuel costs, which could push ticket prices higher if the tensions persist.

The extra flights will strain air traffic controllers in the Kingdom, who may need to slow traffic for safety. Meanwhile, countries that closed their airspace will lose out on overflight fees from passing airlines.

Mike McCormick, former head of air traffic control at the FAA and now a professor at Embry-Riddle Aeronautical University, said some countries may reopen parts of their airspace in the coming days once US and Israeli officials provide airlines with details on military flight zones and Iran’s missile capabilities.

“Those countries then will be able to go through and say, ok, we can reopen this portion of our space but we’ll keep this portion of our airspace closed,” McCormick said.

“So, I think what we’ll see in the next 24 to 36 hours is how the use of airspace evolves as the kinetic activity gets more well-defined and as the capability of Iran to actually shoot missiles and create additional risk is diminished due to the attacks,” he added.

But it is unclear how long the disruption to flight operations could last. For comparison, the Israeli and US attack on Iran in June 2025 lasted 12 days.