English Edition

Nord Stream Secures Funding

Τρι, 16 Μαρτίου 2010 - 13:45

Nord Stream has secured 3.9 billion euros ($5.3 billion) in financing allowing it to start building a pipeline to pump Russian natural gas to Europe under the Baltic Sea, The Financial Times reported on Tuesday. The funds will come from 26 banks with loan guarantees secured for 80% of the financing from the Italian and German credit agencies Sace and Hermes, the paper said.

Power Grab: Albania Considers Nuclear Energy

Τρι, 16 Μαρτίου 2010 - 13:42

Albania is inching closer to building a nuclear power plant. The government demonstrated its political will by establishing the National Nuclear Agency in January, responsible for development of the Albanian Nuclear Energy Programme.

Russia Not Looking To Merge South Stream, Nabucco

Δευ, 15 Μαρτίου 2010 - 20:17

Russia isn't considering merging its South Stream gas pipeline project with the European Union-backed Nabucco scheme, Energy Minister Sergey Shmatko said Monday, refuting a proposal to do so made last week by Italy's Eni SpA (E)'s Chief Executive Paolo Scaroni.

LNG Seen Fueling Growing Europe Gas Demand

Δευ, 15 Μαρτίου 2010 - 20:16

European demand for natural gas is likely to surprise on the upside between 2010 and 2015, as new gas turbine power capacity will come on stream, says Bernstein. Sees LNG as the only solution to fuel new power capacity, as European and Norwegian production is expected to decline

Germany's Merkel Says Iran Sanctions Looming

Δευ, 15 Μαρτίου 2010 - 20:16

German Chancellor Angela Merkel said Monday the time was nearing for sanctions on Iran over its disputed nuclear program as Tehran has rejected Western efforts to find a negotiated solution.

Russian PM: Claim On Arctic Seabed Is Justified

Δευ, 15 Μαρτίου 2010 - 20:15

Russia's claim on the Arctic continental shelf is justified, President Vladimir Putin said Monday and urged other nations to resolve all controversial issues through dialog, the RIA Novosti news agency reports.

Sales Of German Oil Products -11% On Year In February – MWV

Δευ, 15 Μαρτίου 2010 - 20:15

Total sales of oil products in Germany fell 11% on year in February to 6.07 million metric tons, according to provisional data from industry group MWV. Heating oil sales fell 17% on year to 2.11 million tons. Germany is northwest Europe's largest market for heating gasoil.

Slovak, Hungarian Natural Gas Pipeline Operators Take Bids

Δευ, 15 Μαρτίου 2010 - 20:14

The Slovak and Hungarian natural gas transmission and pipeline operators have started taking binding bids for capacity in the planned pipeline that will connect the Hungarian and Slovak natural gas networks, the Slovak pipeline operator said Monday.

Gazprom Starts Drilling its First Exploration Well in Africa

Δευ, 15 Μαρτίου 2010 - 20:00

Gazprom has started drilling its first exploration well in Africa in the El Assel onshore region in Algeria, the Russian energy giant said in a statement on Monday. Under a contract signed with the Algerian National Hydrocarbon Agency (ALNAFT), Gazprom began drilling the Rhourde Sayah-2 well in the Berkine Basin in Algeria, the statement said.

EU Report Favours Trading for Air Pollutants

Δευ, 15 Μαρτίου 2010 - 14:59

After having embraced carbon trading to fight climate change, the European Commission is now eyeing an EU-wide trading scheme for sulphur dioxide (SO2) and nitrogen oxides (NOx) to improve air quality. A draft study assessing the environmental and economic impacts of such a system was recently made public.

OPEC Expands Oil Rigs Most Since 2007 as Quotas Prove Illusory

Δευ, 15 Μαρτίου 2010 - 14:45

OPEC is increasing oil drilling at the fastest rate in 2 1/2 years even as production exceeds its quotas by the equivalent of a supertanker of crude a day and delegates prepare to pledge no increase in output. The 12-nation group boosted its number of oil and gas rigs 8.4 percent in January and February, the biggest two-month gain since June 2007, data from Baker Hughes Inc. show.

Russia, Bulgaria Creating Design Company for South Stream

Δευ, 15 Μαρτίου 2010 - 14:41

Russia and Bulgaria are planning to create soon a design company within the framework of the implementation of the South Stream project, in accordance with a bilateral agreement between the two countries, Russian Minister of Energy Sergei Shmatko told journalists on Monday after his talks with Tsetska Tsacheva, head of the Bulgarian People’s Assembly.

Few EU Countries Plan to Trade Renewable Energy

Παρ, 12 Μαρτίου 2010 - 17:56

Only five EU member states are planning to buy renewable energy from other countries, while the EU as a whole is on track to exceed its 20% collective target, the European Commission said yesterday