Orban: Hungary is in talks with Ukraine about Russian gas deliveries via Hungary
Viktor Orban, the Prime Minister of Hungary, said that Hungary was in talks with Russia, Ukraine and other countries to keep open gas deliveries via Ukraine, even though it imports Russian gas via Turkstream. The pipeline via Ukraine is one of the main Russian gas routes into Europe. However…
Hungary: US exemption of gas payments from Russia Gazprombank sanctioned
In a video on social media, Hungarian Minister of Foreign Affairs Peter Szijjarto stated that the United States had granted exemptions for gas payments from the sanctions they imposed against Russia's Gazprombank. The U.S. implemented sanctions against Gazprombank in November, creating a barrier for European gas buyers.
Prices for European gas rise as renewed Russian focus on gas is renewed
The Dutch and British wholesale gas price rose on Tuesday afternoon due to renewed concerns about Russian gas supplies to Europe starting in January. By 1505 GMT the benchmark front-month contract for the Dutch TTF hub had risen 1.87 euros to 41.83 euros/MWh, or $12.87/mmbtu. This was a continuation of the gains made in the morning.
Hungary declares that the issue of Russian gas payments has been resolved
Hungary's foreign minister announced on Friday that it had found a way to pay for Russian gas via the Turkstream pipe from Bulgaria, while avoiding the U.S. sanction. He did not provide any details about the agreement. The U.S. On Nov. 21, creating a barrier for European gas buyers. Gazprombank has been used by buyers to pay for their purchases…
Russia's oil production in 2024 is expected to decline from 518-521 million T
Interfax news agency reported that Deputy Prime minister Alexander Novak said on Thursday that Russia will produce between 518-521 millions metric tons of oil (10.36-10.42million barrels per day). This amount is also expected in 2025. In September, he had predicted a production of 515-521 millions tons.
Hungary asks for an exemption from US sanctions on gas payments to Gazprombank
Hungary's Foreign Minister said that the United States should exempt Russia's Gazprombank when it comes payments for natural gases, as these sanctions could adversely affect some U.S. Allies. On Nov. 21, President Joe Biden stepped up measures to punish Moscow before he leaves his office in January.
Orban: EU sanctions against Russia must be rethought to reduce energy costs
Hungarian Prime Minster Viktor Orban stated on Friday that the European Union should reconsider its sanctions against Russia, as they keep energy prices high and hinder the bloc's competitiveness. At their informal summit held last week, the leaders of the European Union signed a statement on competitiveness.
Chinese giant CATL expands beyond batteries to power grids and EV platforms
Robin Zeng is the billionaire founder and CEO of CATL. He wants to transform the world's biggest battery manufacturer into a provider of green energy, as well as reduce the costs of developing electric cars, thus upending the economics that have driven the growth of the industry. Zeng said…
The future EU energy chief says he will speed up the end of Russian gas imports
Dan Jorgensen wants to end the EU's dependency on Russian fossil fuels as soon as possible, he said at a Tuesday parliamentary hearing. Ursula von der Leyen, President of the European Commission, has given Jorgensen the task to lower energy prices in order to restore Europe's competitiveness as an industrial powerhouse.
PPA Platform reports that European renewable energy prices dropped in Q3, PPA platform.
The price of European power purchase agreements for green electricity dropped by 12.4% during the third quarter, compared to the same period in 2023. This was revealed on Thursday by the price tracking platform LevelTen. The report cited several factors, including the decline in inflation…
Hungary and Russia's Gazprom are in talks about extra gas for Budapest by 2025
Hungary and Russia’s Gazprom have begun negotiations for an agreement to supply additional gas next year to Budapest. Peter Szijjarto, Hungarian Minister of Foreign Affairs, told the Russian news agency RIA in remarks published Tuesday. "We've already signed an additional agreement for the fourth quarter of this fiscal year.
Gas prices in Europe are falling, but the geopolitical risks remain.
The Dutch and British wholesale prices of gas fell on Friday morning due to a steady supply. However, the market is still closely watching the Middle East situation as there are still geopolitical concerns. LSEG data shows that the benchmark front-month contract for the Dutch TTF hub fell 0.38 euros to 39.70 Euro per Megawatt-hour (MWh)…
Minister: German natgas supplies secure without Ukraine transit
The German Economy Ministry said on Tuesday that Germany's and neighbouring countries' natural gas supplies are safe even if the transit through Ukraine was cut off. The ministry stated that Germany's terminals for liquefied gas (LNG), even those without access to the coast, are an insurance against a natural gas shortage…
Slovakia has a strong interest in ensuring transit of Russian gas and oil via Ukraine
Robert Fico, the Prime Minister of Slovakia, said that the country has a great interest in continuing the flow of oil and gas from Russia through Ukraine to the West. He added that the European Commission was putting pressure on the country to stop these supply flows. Fico said to reporters…
Research group: China has invested over $100 billion in cleantech overseas since 2023.
According to the Australian Climate Energy Finance group, Chinese companies have invested more than $100 billion in clean energy projects since 2023. They do this in order to avoid tariffs on imports from the U.S. CEF's research revealed that China was the largest producer and exporter in the world of solar panels…
Hungary: EU is not doing enough to reduce Russian gas dependency
Hungary's chief energy security official on Wednesday criticised the European Union for failing to provide enough support in order to help smaller countries, which are landlocked, move away from Russian gas. Csaba Maresvari, Hungary’s deputy state secretary of energy security, said at the Gastech Conference in Houston that landlocked…
Four states join forces to build an interconnector for Azeri windfarms
Azerbaijan formed a joint-venture company with Georgia, Romania, and Hungary on Tuesday. The aim is to build an interconnector undersea across the Black Sea to connect planned Azeri Windfarms with Europe. Green Energy Corridor Power Company, based in Bucharest, Romanian capital will oversee the construction of a 1…
Greece's Sole LNG Terminal Ramps Up Imports to Replace Russian Gas
Greece has cut Russian gas imports by more than half this year thanks to increased deliveries from other producers to its sole liquefied natural gas (LNG) terminal near Athens, the country's gas grid operator said on Thursday.Greece has relied on Russia for about 40% of its gas needs for…
Russian Oil Production up 5%; Seaborne Exports up 9.5%
Russia's oil production rose almost 5% in the first half of June compared with May, the Interfax news agency reported on Tuesday, citing a source familiar with the output statistics.Average daily oil production, including condensate, was 1.46 million tonnes in the first 13 days of June, 68…
MOL Poducing Hand Sanitizer to Help Fight COVID-19
Hungarian oil and gas company MOL said it has transformed one of its production facilities at Almásfüzitő into a sanitizer production plant as energy companies around the world pitch in to aid the fight against coronavirus. Lubricants producer and MOL Group member MOL Lub Ltd. shifted production…
