Latest Articles about Energy
Naftohaz Ukrainy Management Change Indicates Turn to Russia
On March 22, the new Ukrainian government completed the formation of the senior management team at Naftohaz Ukrainy, the state oil and gas company (Interfax-Ukraine, UNIAN, March 22; Kommersant, March 23). This team is directly answerable to Fuel and Energy Minister Yuriy Boyko and, equally... MORE
Nord Stream Downloads Financial Risks on German and Italian Governments
Rainer Seele, the Chairman of the German energy company Wintershall, complained in a Russian press interview that commercial banks often “discriminate against” companies involved in Russian projects. According to Seele, the banks generally impose excessive lending costs on such companies (Vremya Novostei, March 19).This should... MORE
“Gross Expropriation” or a Softer Approach at Kovykta?
The Russian government seems to envisage two options for disposing of TNK-BP’s giant Kovykta gas project in Siberia: coercive re-nationalization with compensation for the capital already invested, or without compensation. The state regulatory apparatus claims that the license holder is violating the Kovykta license terms.... MORE
Strategic Implications of China’s Access to the Rajin Port
At the recently concluded National People's Congress (NPC), Chinese Communist Party (CCP) Deputy Secretary-General of the Yanbian Korean Autonomous Prefecture in Jilin Province, Li Longxi, announced that North Korean authorities are currently studying a proposal to grant a 10 year extension to China's lease of... MORE
South Stream: a Casualty of Moscow’s Excess Pipeline Capacity Building
Like all parties involved with South Stream, ENI must rely on the new Ukrainian President Viktor Yanukovych agreeing to share control of Ukraine’s gas transit system with Moscow. In that case, Gazprom would no longer need South Stream as a Ukraine-bypass option, which Moscow had... MORE
Gazprom’s Partner ENI Loses Confidence in South Stream
Italy’s ENI chief executive, Paolo Scaroni, has proposed unifying the Gazprom-led South Stream with the European Union-backed Nabucco pipeline project. The Italian state-controlled energy conglomerate ENI is the key technological and commercial partner to Gazprom in South Stream, the project aimed at transporting gas from... MORE
Turkey Signals a Shift on French Participation in Nabucco
The Turkish parliament ratified the Nabucco inter-governmental agreement (IGA) on March 4, which was signed in July 2009 at a highly-publicized ceremony in Ankara (EDM, July 14, 2009). Consequently, all IGA signatories have concluded the ratification process. The Nabucco consortium welcomed this development, claiming that... MORE
Will Belarus Build its Nuclear Plant?
Over the past three years, there have been numerous discussions about the future Belarusian nuclear power station. Various sites have been studied and canvassed and in December 2008, President Alyaksandr Lukashenka announced that the station would be located in the Astravets district of Hrodna region,... MORE
Medvedev Discards the Ambition of “Energy Super-Power”
Upon his return from the trip to Paris last week, President Dmitry Medvedev held a meeting with Deputy Prime Minister, Igor Sechin, who is supervising the energy sector, and expressed satisfaction about world oil prices that are expected to stay above $80 per barrel (Rossiyskaya... MORE
Russia and Croatia Resurrect Druzhba-Adria Oil Transport Scheme
Prime Minister Vladimir Putin of Russia and Jadranka Kosor of Croatia discussed the oil transportation scheme known as Druzhba-Adria integration during Kosor’s recent visit to Moscow. The trip marked Croatia’s accession to Gazprom’s South Stream project and opened the way for Russian energy companies’ expansion... MORE