Latest Articles about Energy
MOL, Gazprom to Build Gas Storage Site in Hungary Independent of South Stream
On March 10 in Moscow, Hungary's privately-owned MOL oil and gas company signed an agreement with Gazprom Export in Moscow to jointly establish a gas storage company in Hungary. Prime Ministers Vladimir Putin and Ferenc Gyurcsany witnessed the signing. This project is separate from and,... MORE
Chancellor Merkel Says Nein to Nabucco
Shifting gears from an ostensible equidistance between pipeline projects, German Chancellor Angela Merkel has come out against proposals to use European Union funds to kick-start the Nabucco pipeline project for bringing Caspian gas to Europe. Although Germany was never interested in this project in a... MORE
Security Service Raids Ukrainian State Gas Companies
On March 4 and 5 armed units of the Security Service of Ukraine (SBU) conducted raids on the headquarters of Naftohaz Ukrainy, the state-owned oil and gas company, and UkrTranshaz, the operator of the Ukrainian gas pipeline company. According to a March 5 report by... MORE
Hungary’s MOL Driving Efforts to Interconnect Gas Markets
On March 3 the Hungarian gas transmission operator FGSZ—a subsidiary of MOL, the Hungarian oil and gas company—signed a contract with Croatia's state pipeline operator Plinacro to build an interconnector gas pipeline between the two countries. The project fits within MOL's strategy of promoting construction... MORE
Turkey’s Stalling on Nabucco Hurts Europe, Azerbaijan, and Itself: Part Two
Ankara's stalling tactics in the negotiations on the Western-backed Nabucco project (see EDM, March 4) are partly inspired by the AKP government's vision of a strategic partnership with Russia. Turkish officials have from time to time mooted the inclusion of Gazprom in the Nabucco project.... MORE
Turkey’s Stalling on Nabucco Hurts Europe, Azerbaijan, and Itself: Part One
During the recent Nabucco summit in Budapest on January 26 and 27 (see EDM, January 29, 30), EU Energy Commissioner Andris Piebalgs underscored the importance of signing the intergovernmental agreement on the Nabucco project by the time of the European Union's summit, to be hosted... MORE
Ukraine Warns of Looming Gas Payment Default to Gazprom
Will the European Union face a new cutoff of gas supplies from Russia in March? This possibility became more ominous when Ukraine's states-owned gas monopoly, Naftohaz Ukrainy, warned that it might not be able to pay its February gas bills on February 19. Barely a... MORE
Russia’s New Energy Doctrine
The Kremlin articulated some details of its new assertive energy strategy, following the inauguration of a major energy project on the Pacific island of Sakhalin and a significant energy deal with China. Russian President Dmitry Medvedev dismissed perceived attempts to exclude Russia from global energy... MORE
Russia Enters Global LNG Market Thanks to Foreign-Built Plant
Russia's first-ever plant for liquefied natural gas (LNG) was inaugurated near Yuzhno-Sakhalinsk on February 18 in the presence of Russian President Dmitry Medvedev, Britain's Prince Andrew, Netherlands Economic Affairs Minister Maria van der Hoeven, and Japanese Prime Minister Taro Aso. The plant will process gas... MORE
Oil-for-Loans Deal Will Increase Russian Oil Deliveries to China
On February 17 and 18 Russia made its entrance as a significant supplier of oil and gas to Asian countries. Natural gas earmarked for Japan and South Korea came on stream at Russia's first-ever, foreign-built liquefaction plant; and, in a parallel move, Russia signed a... MORE