Macron: European Defense Industry Cooperation Must be Enhanced

France's President Emmanuel Macron holds a news conference during the NATO summit in Brussels, Belgium June 14, 2021. REUTERS/Christian Hartmann
France's President Emmanuel Macron holds a news conference during the NATO summit in Brussels, Belgium June 14, 2021. REUTERS/Christian Hartmann
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Macron: European Defense Industry Cooperation Must be Enhanced

France's President Emmanuel Macron holds a news conference during the NATO summit in Brussels, Belgium June 14, 2021. REUTERS/Christian Hartmann
France's President Emmanuel Macron holds a news conference during the NATO summit in Brussels, Belgium June 14, 2021. REUTERS/Christian Hartmann

French President Emmanuel Macron said on Monday that cooperation in the European Union's defense industry needed to be enhanced, including by the introduction of measures to favor EU companies on strategic issues.

"We need to...have a stronger industrial and technological base for European defense one that is much stronger and much more ambitious. And I will be intractable on this subject," Macron told a defense industry event in Paris.

In his speech, Macron stressed the changed geopolitical situation caused by Russia's actions in Ukraine, reiterating his call for boosting Europe's autonomy when it comes to its defense capacities, Reuters reported.

"The time has come to put in place...a European preference, to build, when necessary and possible, rational mechanisms for the acquisition of common capabilities", Macron said.

Public tender rules among EU states for defense industry contracts should also be simplified to allow more transnational cooperation.



EUROPE GAS-Prices Rise on Lower Wind Speed, Russian Gas Uncertainty

Model of natural gas pipeline and Gazprom logo, July 18, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
Model of natural gas pipeline and Gazprom logo, July 18, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
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EUROPE GAS-Prices Rise on Lower Wind Speed, Russian Gas Uncertainty

Model of natural gas pipeline and Gazprom logo, July 18, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
Model of natural gas pipeline and Gazprom logo, July 18, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

Dutch and British wholesale gas prices rose slightly early on Monday, as they traded in a narrow range, caught between low wind speed and uncertainty over Russian gas flows to Europe when the Ukraine gas transit deal expires at the year-end.

The benchmark front-month contract at the Dutch TTF hub edged up by 0.84 euro to 44.65 euros per megawatt hour (MWh), or $14.3/mmBtu, by 1016 GMT, while the day ahead contract was up 1.08 euro at 44.38 euros/MWh.

In Britain, the day-ahead contract was 2.25 pence higher at 110.25 p per therm.

"The spot and the curve (prices) are still supported by the prospect of a non-renewal of the Russia-Ukraine gas transit deal," analysts at Engie's EnergyScan said in a daily note, according to Reuters.

The situation with European countries that buy Russian gas is very complicated and requires increased attention, the Kremlin said on Monday, after talks between President Vladimir Putin and Slovak Prime Minister Robert Fico.

Fico said on Sunday that Putin had confirmed Russian willingness to continue to supply gas to Slovakia, even though the Slovak leader said this was "practically impossible" once a gas transit agreement between Russia and Ukraine expires.

Russia's Gazprom said it would send 42.1 million cubic metres of gas to Europe via Ukraine on Monday, a volume in line with recent days.

Meanwhile, wind generation will drop sharply today in France and Germany and the confidence for high wind output is reduced, supporting gas for power demand, EnergyScan analysts said.

In Britain, peak wind generation is forecast at 19.1 gigawatts (GW) on Monday, falling to 15.6 GW on Tuesday, Elexon data shows.

In the European carbon market, the benchmark contract was up 0.22 euro at 67.91 euros a metric ton.