Russia has agreed to cut the 2016 gas price and has outlined a plan of further reductions for the next few years for Belarus, while Minsk agreed to redeem a $300 million debt for past deliveries, government officials said. “The debt, which has accrued for January gas payments will be redeemed fully until October 20.…
Russia’s average daily oil and gas condensate output grew to 11.2 million barrels daily in October from 11.11 million barrels in September, setting a new post-Soviet record high, Bloomberg reported, citing preliminary data of CDU TEK, an agency that provides data and analysis to the Russian Energy Ministry. Russian Energy Minister Alexander Novak said that…
In 2015 Naftogaz Ukrainy increased production of oil and condensate by 20.7% YoY, to 318,000 tons (2.33 million barrels). According to a company consolidated report, posted on its website, commercial gas production was 192 million cubic meters, up 4.8 times YoY. In general, since the launch of the project in Egypt in 2009 a total…
The Southern Gas Corridor is an excellent example of a new source of energy for Europe, Vice-President of EU Commission in charge of Energy Union Maros Sefcovic said. The Southern Gas Corridor is one of the priority energy projects for the EU. It envisages the transportation of 10 billion cubic meters of Azerbaijani gas from…
Russian independent gas producer Novatek decreased its gas production by 0.3% YoY to 49.95 billion cubic meters in January-September, the company said in a statement. The output of liquid hydrocarbons rose by 43.6% to 9.387 million tons. (Prime/Business World Magazine)
Belarus is ready for a compromise in energy disputes with Russia, President Alexander Lukashenko said. “We are sensible people and we are ready for compromises, but they must be honest”, Lukashenko said. He said that the negotiations had made some progress lately and that there were certain “new proposals” from Russia. “I think that the…
Power plants of the Azerenergy JSC, Azerbaijan’s main electricity producer, generated 16.5 billion kilowatt hours of electricity in January-September as compared to 16.8 billion kilowatt hours generated in the same period of 2015. Azerenergy’s power plants produced about 1.7 billion kilowatt hours of electricity in September. In 2015, Azerenergy produced more than 22.5 billion kilowatt…