“We have to be quick, correct and fair but also critical.” That’s how Snjólfur Richard Sverrisson, Montel News’ Editor- in- Chief, summarises the mission statement of Montel Online and his team of energy market journalists. Snjólfur or Richard (depending on whether he’s wearing his Icelandic or British hat) has led Montel’s news team since April 2019 and has over a dozen years' experience as Montel’s European news editor.
Richard’s time at Montel Online has seen the news service swell to over 40 journalists working in 10 different European newsrooms, with a dedicated ‘green team’ to cover renewables, decarbonisation and the energy transition. It’s a significant change from 12 years ago, when Richard’s European team was a lot smaller. “We’ve had to be both reactive in terms of following key market trends, as well as developing in areas that will be of vital importance in the years to come.”
The energy crisis in focus
"Well it's fair to say that energy market reporting has never been more important," says Richard. And it would be hard to argue otherwise. With energy prices rising to record highs (largely thanks to the war in Ukraine) demand for not just energy price information, but also explanations of the factors causing such price spikes, has never been higher.
"Ultimately it all comes down to the fact that Europe is simply too dependent on Russian gas," he continues, "or rather it might now be more appropriate to say was too reliant."
In the face of reduced supply, European markets turned quickly to LNG imports to make up the shortfall. Expensive in the short term of course, but now at least the continent knows there are other sources of fuel out there to cover interruptions in gas provision.