DTEK, CMEC to Build one of Europe's Largest Solar Projects
Ukraine's largest private power producer DTEK and China Machinery Engineering Corp (CMEC) said on Friday they had agreed a joint project to build one of Europe's largest solar energy generators at a cost of 230 million euros ($282 million). The solar power station will be built in the central Ukrainian region of Dnipropetrovsk with a planned capacity of 200 megawatts (MW), making it the third largest in Europe in terms of potential output.
Putin Says Nord Stream 2 is Purely Economic Project
Russian President Vladimir Putin said on Wednesday the Nord Stream 2 pipeline was a purely economic project, as he met the head of German chemicals group BASF. Russia's Gazprom has formed a consortium with BASF and other firms for the new pipeline, which some European governments say risks increasing reliance on shipments from Russia, benefiting Germany but undermining unity in the European Union on energy issues. The pipeline "has a purely economic character.
Naftogaz CEO says EU Should Block Nord Stream-2
The chief executive of Ukraine's state energy firm Naftogaz on Friday said the European Union should block the Nord Stream-2 gas pipeline as it would give Russia too much leverage over Germany, Poland and Slovakia. "There is an easy legal way (to stop it). The EU should apply the same logic like with South Stream, apply the Third Energy Package, then you can't build Nordstream 2.
Ukraine Inks Gas Deal with European Suppliers
Ukrainian state energy firm Naftogaz has agreed to buy 1.7 billion cubic metres (bcm) of gas from European suppliers at a price of $188-$211 per thousand cubic metres, the company said in a statement on Thursday. Ukraine, which is still in a protracted gas pricing dispute with Russia, has been seeking to cover its needs with its own production and supplies from Europe. The…
Ukraine: Russia Looted Two Crimean Oil Rigs
Ukraine accused Russia on Wednesday of looting two of its oil rigs after Crimea-based oil and gas firm Chornomornaftogaz moved the equipment off the coast of the annexed peninsula into Russian waters. Russia annexed Crimea from Ukraine last year and the loss of the peninsula's valuable energy assets has been a particular sore point for cash-strapped Kiev given a long-running energy dispute between the two countries.
Ukraine Has No Critical Need for Russian Gas
Ukrainian Energy Minister Volodymyr Demchyshyn said on Monday Ukraine had enough gas in reserve to ensure it was not critical for it to buy gas from Russia at this stage. Gas consumption has been up to 19 percent lower year-on-year this season and reserves will stand at around 16 billion cubic metres by early December, 2 billion higher than at the same point last year, he said. (Reporting by Pavel Polityuk; Writing by Alessandra Prentice)
Ukraine Backs Naftogaz Reforms to Unlock EBRD Loan
The Ukrainian government has backed plans to reform the management of state energy major Naftogaz, which will allow the company to receive a much-needed $300 million loan to buy gas this winter, its chief executive said on Friday. The European Bank for Reconstruction and Development (EBRD), which approved the loan in September, has urged Ukraine to give Naftogaz more independence, including a board of independent directors.
Naftogaz Sends Prepayment to Russia for Gas
Ukrainian state-run energy firm Naftogaz has transferred a prepayment to Russia for gas supplies and plans to buy 2 billion cubic metres (bcm) in October, a spokeswoman for the company said on Friday. "We have sent the prepayment ... We want to buy 2 billion cubic metres in October," a Naftogaz spokeswoman said by telephone, declining to say how much Ukraine had paid. Russia's…
Ukraine Seeks More Than $16b from Gazprom
Ukraine is seeking more than $16 billion from Russia's Gazprom in its appeal to an arbitration court in Stockholm over a long-running gas pricing dispute between Kiev and Moscow, Prime Minister Arseny Yatseniuk said on Friday. Ukraine's state gas business Naftogaz and Russia's Gazprom are bound by a 10-year gas agreement signed in 2009. Kiev is challenging the price of Russian gas…
Naftogaz Wants to Boost Stored Gas for Winter -CEO
Ukraine's Naftogaz wants to build up its stored gas to 19 billion cubic metres (bcm) by the start of the 2015-16 heating season in the autumn, Chief Executive Andriy Kobolev said in a briefing on Wednesday. Earlier, Prime Minister Arseny Yatseniuk said he hoped talks on natural gas supplies would take place with European partners and Russia on March 20. At the start of the heating season last October, the level of gas in storage stood at 16.75 bcm.
Naftogaz Says Russia Failed to Deliver Prepaid Gas
Ukrainian state energy firm Naftogaz said on Monday Russia's Gazprom had violated the terms of a supply agreement by failing to supply gas that Kiev had paid for in advance. Naftogaz said it had ordered 114 million cubic metres (mcm) of gas from Russia last Thursday, which had to be delivered on Sunday. Of this Gazprom supplied only 47 mcm, Naftogaz said. (Reporting by Natalia Zinets; Writing by Alessandra Prentice)
Russia to Supply Coal, Electricity to Ukraine
Russia has agreed on a new deal to supply coal and electricity to Ukraine, which is struggling with a lack of raw fuel for power plants due to a separatist conflict in the industrial east, Russian officials said on Saturday. The move comes a day after Kiev said it would suspend train and bus services to Crimea, effectively creating a transportation blockade to and from the region annexed by Moscow in March this year.
Naftogaz Transferred $1.65b Trache of Gazprom Debt
Ukrainian state energy firm Naftogaz said on Tuesday it had transferred $1.65 billion to Russia's Gazprom - the second tranche of a debt repayment agreed under a deal that saw Moscow resume gas supplies to Ukraine earlier this month. In November, Moscow, Kiev and the European Union reached a deal under which Russia would restart flows to Ukraine over the winter in return for Ukraine paying $3.1 billion in two tranches by the end of the 2014.
Ukraine Power Company Boss Detained Over Botched Coal Deal
The head of a Ukrainian state energy firm has been detained on suspicion of embezzling funds after a botched deal to buy South African coal deepened the country's electricity crisis, prosecutors said on Friday. Without Russian natural gas imports since June and hit by separatist violence that has disrupted its own coal mining, Ukraine has been forced to introduce mass electricity cuts.
Ukraine to Prepay for Russian Gas Today or Tomorrow
Ukraine will make a prepayment for 1 billion cubic metres of Russian gas on Wednesday or Thursday, Ukrainian Energy Minister Volodymyr Demchyshyn said, as the deepening winter forces the country to rely for energy on its powerful neighbour. Russia, which cut off supplies to Ukraine in June because of a standoff over prices, has insisted that Ukraine pay for supplies in advance.
Ukraine Must Buy Coal From Russia to Get Through Winter
Ukraine will be forced to buy coal from Russia to get through the winter, a serious setback to the country's efforts to lessen energy dependence on its powerful neighbour, Ukrainian Energy Minister Yuri Prodan said on Wednesday. Conflict between pro-Russian rebels and Ukrainian forces in Ukraine's industrial east has disrupted coal supplies to thermal power plants (TPP)…
Ukraine's Naftogaz Says Has Repaid $1.67b Eurobond
Ukraine's state gas company Naftogaz said on Wednesday it had repaid $1.67 billion to the holders of its 5-year sovereign-guaranteed Eurobond which matured on Sept. 30. Earlier Ukraine's central bank said it would sell foreign currency to Naftogaz so that the state energy firm could pay holders of the bond. "Naftogaz is determined to continue to meet its financial obligations in a proper and diligent manner," the company said in a statement.
Ukraine Reserved $3.1b for Winter Gas Needs
Ukrainian state-owned gas company Naftogaz has put aside $3.1 billion to buy gas for the forthcoming winter, Ukrainian Prime Minister Yatseniuk said on Friday, warning that the country was not able to survive without supplies of Russian gas. Yatseniuk said Ukraine, to whom Russia's Gazprom cut supplies on June 16 in a row over pricing, needed a further 5 billion cubic metres (bcm) of Russian gas.
Coal Sector Casts Shadow on Ukraine Electricity Market
Intense fighting in eastern Ukraine has forced coal mines to cut production or close entirely, imperilling the country's electricity market and potentially forcing the government to cut exports or limit consumption. Coal mining is centred in the industrial regions of Luhansk and Donetsk, where a months-long conflict between pro-Russian separatists and Ukrainian forces has seen infrastructure destroyed by artillery fire and supply networks disrupted.
Naftogaz Warns of Possible Gas Transit Disruptions
Ukrainian state-owned gas company Naftogaz said on Wednesday European companies should look into purchasing gas on the Russia-Ukraine border, warning of potential disruptions to supplies arising from the gas pricing row. "Naftogaz considers it its duty to warn European partners of possible risks," the company said in a statement. The firm also said that any Ukrainian sanctions…
