English Edition

PM Hails Restoration of Democracy, Slams ‘Weakness’ of Hagia Sophia Conversion

Παρ, 24 Ιουλίου 2020 - 17:01

In a message to mark the restoration of democracy in Greece following a seven-year military dictatorship (1967-1974) Greek Prime Minister Kyriakos Mitsotakis said on Friday the country is “celebrating 46 years of undisrupted democracy

Bulgaria to Complete TurkStream Pipeline Extension Amid US Threats to Sanction Russian Energy Projects

Πεμ, 23 Ιουλίου 2020 - 20:07

The Bulgarian section of the TurkStream natural gas pipeline from Russia, known as Balkan Stream, is set to be completed by the end of the year, according to the Russian Foreign Ministry

Russia Considers Emulating The World’s Largest Oil Hedge

Πεμ, 23 Ιουλίου 2020 - 20:01

Russia is considering whether to adopt a kind of state oil hedging program, similar to Mexico’s oil hedge, to protect government revenues from oil price crashes in the future, Russian news agency Interfax reported on Wednesday, quoting sources familiar with the matter

'Situation Unchanged' in Broader Sea Area Off Kastelorizo

Τετ, 22 Ιουλίου 2020 - 19:28

The Hellenic National Defense General Staff (HNDGS) said "the situation remains unchanged" in the maritime zone SE of Kastelorizo island, where the Turkish government has issued a Navtex for seismic research until August 2

Terna Energy Sells Mountain Air Wind Farm in US

Τετ, 22 Ιουλίου 2020 - 19:24

Greece’s Terna Energy has sold the 138 MW Mountain Air wind farm in Idaho in the United States to Innergex Renewable Energy Inc. for USD 215 million.According to the Greek energy company, the operating profit of the project amounted to USD 17.6 million in 2019

Italian LNG Terminal Panigaglia Capacity to Increase by 2021

Τετ, 22 Ιουλίου 2020 - 19:17

The Italian LNG Panigaglia terminal will double in storage capacity by the end of 2021, Snam Rete Gas – who owns the terminal’s operator GNL Italia – said on Tuesday

Rosatom Unit to Deliver Batteries to Bulgaria's Technoimport

Δευ, 20 Ιουλίου 2020 - 19:37

Russian nuclear energy corporation Rosatom said that its unit for production of energy storage systems, Cathode Materials, will deliver ion-lithium batteries to Bulgaria's Technoimport, part of Bulgarian manufacturer of forklifts and electric platforms Balkancar Record

Chevron Buyout of Noble Could Impact Cyprus Drilling Says Minister

Δευ, 20 Ιουλίου 2020 - 19:25

The energy ministry said on Monday the buyout of Noble Energy, the concession holder for Cyprus’ Aphrodite field, by Chevron, which was announced on Monday was a development that could affect the island’s drilling plans

German Floating PV Plant Works Better Than Expected

Δευ, 20 Ιουλίου 2020 - 19:00

Floating PV systems are still relatively new in Germany and the largest, a 750 kW facility, was installed a year ago by gas company Erdgas Südwest and gravel plant operator Armin Ossola on Lake Maiwald, in Renchen, southern Germany. A year on, the results have been better than predicted

LNG Markets May Not Recover Until 2021

Δευ, 20 Ιουλίου 2020 - 18:56

The cash margin for U.S. LNG exporters improved slightly in the second quarter, but will likely remain negative for the duration of 2020, according to a new report. The LNG glut is hurting both buyers and sellers. In Japan, the largest power generator, JERA, is losing tens of billions of yen because it has contracted to buy LNG at prices linked to crude oil, but because it cannot use all of the gas, it typically resells some cargoes. The problem is that JERA has to resell cargoes on the spot market, where prices are much lower than the oil-linked price. In effect, the group is buying high and selling low

Limit for Electric Vehicle Incentives in Croatia Reached in Just Two Minutes

Παρ, 17 Ιουλίου 2020 - 19:41

In just two minutes, the Fund for Environmental Protection and Energy Efficiency has received 546 applications from citizens for co-financing of the purchase of energy-efficient vehicles, of which 470 refer to electric vehicles

Warren Buffett Bets $9.7 Billion on a Long Future for Natural Gas

Παρ, 17 Ιουλίου 2020 - 19:36

Warren Buffett’s $9.7 billion bet on natural gas looks even more contrarian today. As Democrat Joe Biden unveils a staggering $2 trillion clean-energy plan—the most ambitious climate package ever offered by a presumptive presidential nominee—Buffett’s recent deal to buy Dominion Energy Inc.’s natural gas assets is a stark sign he’s expecting that the market’s shift away from fossil fuels won’t happen overnight

ERU’s First Supply of Natural Gas to Romania with Moldova Being a Transit Country

Πεμ, 16 Ιουλίου 2020 - 19:24

On the basis of the trilateral agreement between Moldovatransgaz LLC, Moldovagaz JSC and ERU Management Services LLC, which is part of the Energy Resources of Ukraine (ERU) Group, the first supply of natural gas to Romania with Moldova being a transit country took place. Historically, this route was used solely by Russia’s Gazprom

US Tells Companies to 'Get Out' of Russian Gas Projects

Πεμ, 16 Ιουλίου 2020 - 19:21

US State Secretary Mike Pompeo warned on Wednesday the companies working at Nord Stream 2 and the second line of Turk Stream energy pipeline projects are at risk of US sanctions, citing Russia's "malign" influence in Europe

Bulgarian Parliament Approves Creation of State Petroleum Company

Τετ, 15 Ιουλίου 2020 - 19:42

Bulgaria’s National Assembly approved at second reading on July 9 a bill to amend the State Reserve and War-time Storage Act, which creates a new State Petroleum Company, tasked with maintaining the state oil and petrol reserves, as well as operating petrol stations

OPEC Prepares to Ease Oil Production Cut to 7.7 Mbpd

Τετ, 15 Ιουλίου 2020 - 19:30

The Organization of Petroleum Exporting Countries (OPEC) and its allies are preparing to lower their current crude oil production cut level to 7.7 million barrels per day (bpd), from the existing 9.7 million bpd