Cocaine Entering Europe in Shipping Containers Presents ‘Major Challenge’ as Seizures Hit Record

By Axel Bugge LISBON, June 6 (Reuters) - The amount of cocaine seized by authorities in Europe doubled in 2017 to reach a record 140 tonnes in a strong indication of soaring mass supply of the drug coming from Latin America, the Lisbon-based EU drugs agency said on Thursday. Cocaine has made a dramatic comeback in Europe since the financial crisis when its high price dented … [Read more...]

The Giant Soviet Pipeline System That’s Full of Tainted Crude

By Julian Lee (Bloomberg) -- Russia’s giant Soviet-era oil pipeline is a vital piece of Europe’s energy infrastructure, carrying crude to refineries across the region. This week it’s been hit by probably the biggest crisis in its 55-year history: both branches of the Druzhba pipeline have been closed due to the presence of contaminated crude oil that can cause serious … [Read more...]

LNG Heads Out the Door as Asia Outbids European Utilities

By Anna Shiryaevskaya (Bloomberg) -- Northwest European liquefied natural gas terminals are for the first time exporting more of the fuel than they are feeding into the region’s pipeline networks. Even with the European benchmark at a record for this time of year, surging demand in Asia to South America means traders are sending ships with the super-chilled gas there instead … [Read more...]

EU Touts U.S. LNG Imports to Woo Trump on Trade

BRUSSELS, Aug 9 (Reuters) - The European Union said it was delivering on a deal with U.S. President Donald Trump to buy more U.S. liquefied natural gas (LNG) on Thursday but called on Washington to do more to make its prices competitive. In talks to urge Trump to drop hefty new tariffs last month, the EU's chief executive Jean-Claude Juncker agreed to work to increase … [Read more...]

Development of France’s Long-Planned Seine-Nord Canal Depends on Funding, Minister Says

By Geert De Clercq PARIS, Aug 9 (Reuters) - A project to build a canal to link Paris with major harbours of northern Europe will depend on lining up the necessary funds, the French government said on Wednesday, without saying if it believed the finance could be found. France has long planned to build the waterway dubbed the Seine-Nord canal to allow large barges to sail from … [Read more...]