In brief | 6 November '24

Euronews: Thousands of jobs to go at German car parts maker Schäffler

The company is downsizing at 10 locations in Germany and five other sites in Europe, further illustrating the challenges facing the European car industry.

Reuters: Uniper to slow $8.7 billion green overhaul on hydrogen expansion delay

The comments reflect growing scepticism among German companies about whether long-standing government plans to rely more heavily on hydrogen to cut emissions are realistic and affordable.

Stephen Stapzynski (Bloomberg): Europe keeps procuring LNG supply to boost energy security

Germany’s SEFE agreed to buy 1 million tons/year from Adnoc for 15 years from 2028. Germany has acknowledged that gas will play a key role in its energy mix, and has fast-tracked new LNG import plants.

Javier Blas (Bloomberg): Third day of Dunkelflaute in north-west Europe

German wind power output has plunged to less than 0.2 GW, compared to an installed capacity of ~70 GW. Coal, natural gas and imports plugging the (huge) gap.

Financial Times: Hurricane Trump will blow Europe’s wind power recovery off course

Lack of clarity about US president-elect’s plans means confusion over the outlook for new projects and turbine orders.