In May Ukraine increased gas reserves in underground gas storage facilities by almost 2 billion cubic meters. As of June 1, they reached 11.46 billion cubic meters, the press service of the NJSC Naftogaz Ukrainy reported. “Ukraine continues to accumulate gas in underground gas storage facilities to go through the next heating season. The gas…
Oil prices this year are expected to reach $65, Director of Fitch Ratings Sovereign Group in Europe Marina Stefani declared. She said that next year oil prices would be at $62.5. The expert also noted that gas production in Azerbaijan would grow due to the production from the second stage of Shah Deniz field’s development.…
While income not received from the production of electricity and oil is still being calculated, Estonian state-owned energy group Eesti Energia may have suffered up to EUR 100,000 in damages as a result of a shutdown of an energy production unit and an oil plant caused by a failure at an Elering-owned substation just outside…
Ukrainians should not expect a low price for natural gas, but measures should be taken to improve energy efficiency, Deputy Prime Minister and Minister for Regional Development, Construction, Housing and Utilities of Ukraine Hennadiy Zubko has said. “I want to warn all Ukrainians: there is no need to wait for a low gas price. If…
The government of Kyrgyzstan will not increase electricity tariffs until it completes the reform of the energy sector, the First Deputy Prime Minister Kubatbek Boronov said at a meeting of Respublika – Ata Jurt faction of the Parliament. He noted that revision of electricity tariffs was not expected in the near future. “We are currently…
Since May 1, Azerbaijan has started supplying electricity to Greece, Romania, Bulgaria and Hungary through Georgia and Turkey, Azerenergy OJSC said in a message. Azerenergy was among the winning companies participating in the auction to supply electricity to Greece and Bulgaria. The company also supplies electricity to Iran, Russia, Turkey and Georgia. In the coming…
While previously a net electricity exporter for many years, Estonia has recently become an importer. As the power industry’s trade union sees it, the domestic energy production sector is at risk, with the end of national electricity markets, Estonia’s ratification of the Paris Agreement, and cheaper electricity available abroad conspiring to see the sector at…