Energy

Monday, January 23

The US and its allies agreed to introduce two ceiling prices for Russian oil products.

The US and its allies agreed to introduce two ceiling prices for Russian oil products. Deputy Secretary of the Treasury Wally Adeyemo met virtually with Deputy Ministers representing the global coalition of countries imposing a price cap on seaborne Russian crude oil (the Price Cap Coal...

Ukraine will start the construction of new power units based on American AR1000 technology.

Ukraine will start the construction of new power units based on American AR1000 technology. The government of Ukraine has decided to begin the development of technical documentation for a new type of reactor that has never been built in Ukraine. According to Ukraine Energy Minister Herman Ga...

A new solar power plant in western Ukraine was opened in December.

A new solar power plant in western Ukraine was opened in December. A new solar power plant (SPP) with a capacity of 996 kW has been put into operation in the Kamianka-Buzka community in the Lviv region. The power plant is located on a plot of land with a total area o...

Friday, January 20

The daily transit of Russian gas through Ukraine is at a historic low.

The daily transit of Russian gas through Ukraine is at a historic low. Since January 19, the daily transit of Russian gas through Ukrainian territory has decreased by more than 20% to a new historical minimum, said the former head of the Ukrainian GTS Operator, Serhii Ma...

A Ukrainian oil and gas well that can produce 32 tons of oil and 17,000 cubic meters of gas per day has been repaired.

A Ukrainian oil and gas well that can produce 32 tons of oil and 17,000 cubic meters of gas per day has been repaired. State oil and gas producer Ukrnafta has completed the overhaul of a well with a transition to a higher level of output in the east of Ukraine. According to the company’s preliminary data, the we...

Thursday, January 19

Bulgaria becomes the leader in diesel fuel export to Ukraine.

Bulgaria becomes the leader in diesel fuel export to Ukraine. The country provides up to 40% of Ukraine’s diesel fuel needs. According to Die Welt, the fuel is produced from Russian crude oil at the Black Sea oil refinery owned by the Russian company Lukoi...

Tuesday, January 17

EU gas prices has fallen to autumn 2021 levels.

EU gas prices has fallen to autumn 2021 levels. Spot gas prices in Europe on January 16 fell by almost 10% to $635 per thousand cubic meters, which is equal to the level from September 2021. Since the beginning of the year, prices have fallen by 22...

Friday, January 13

The IEA has announced the beginning of a new industrial era.

The IEA has announced the beginning of a new industrial era. The International Energy Agency believes that the world is entering a new industrial era, which will be based on the production of environmentally friendly technologies. The IEA report covers wind tur...

Moldova will allow Ukraine to import gas from the LNG terminals in Greece and Turkey.

Moldova will allow Ukraine to import gas from the LNG terminals in Greece and Turkey. The Government of Moldova has approved a decision on the necessary legislative changes, which opens the possibility for all companies to use the backhaul service (virtual reverse) at the connection po...

Wednesday, January 11

The G7 plans to establish two price limits for Russian oil products.

The G7 plans to establish two price limits for Russian oil products. The price cap on Russian oil products, which will come into effect on February 5 as part of the sanctions against Russia, will be twofold. One price will be set for diesel and kerosene, which are more...

The EU has become the world leader in LNG import.

The EU has become the world leader in LNG import. According to 2022’s results, the European Union became the world’s largest buyer of liquefied natural gas, ahead of China, Japan, and South Korea, according to data from Refinitiv. Thus, against...

Tuesday, January 10

European interest in Ukrainian gas storage is growing.

European interest in Ukrainian gas storage is growing. The operator of GTS of Ukraine (OGTSU) explained that the gas price at European hubs has dropped to pre-war levels. Currently, EU gas storages are filled to more than 80% of capacity and are resuming ...

Monday, January 9

Ukrainian wind farms lost more than €550M due to war.

Ukrainian wind farms lost more than €550M due to war. Losses of wind farms from destruction, damage, or theft of equipment by Russian invaders have exceeded €50M, and more than €500M were lost due to forced downtime, said Deputy Minister of Energy Yarosl...

Total gas production in Ukraine fell to a 20-year low due to the war.

Total gas production in Ukraine fell to a 20-year low due to the war. Gas production in Ukraine for 2022 fell by 6% to 18.5 billion cubic meters, the lowest production volume in the last 20 years. The main reason for the reduction in production was the full-scale war. I...

Friday, January 6

Night generation covers Ukraine’s need for electricity consumption.

Night generation covers Ukraine’s need for electricity consumption. The state Energy company Ukrenergo recorded an increase in consumption due to the gradual cooling of temperatures and intensification of industry and business activity after the holidays. However, for...

Thursday, January 5

Energoatom discusses the inability of the IAEA to create a safety zone at the ZNPP.

Energoatom discusses the inability of the IAEA to create a safety zone at the ZNPP. The head of state energy company Energoatom, Petro Kotin, does not believe that the IAEA will be able to achieve the creation of a safety zone around the Zaporizhzhia nuclear power plant. In his opini...

Russia reduced the daily gas transit through Ukraine by another 10%.

Russia reduced the daily gas transit through Ukraine by another 10%. On January 4, the Russian Federation reduced the daily natural gas transit through the Ukrainian GTS to Europe by another 10%, to 38.4 million cubic meters per day. ExPro analysts calculated that this...

Abnormal heat has brought gas prices in the EU to their lowest levels.

Abnormal heat has brought gas prices in the EU to their lowest levels. Natural gas prices in Europe continued to slide as warmer weather dampened demand and eased pressure on policymakers and central bankers. According to Bloomberg, the underlying futures fell 7.8% on Ja...

Wednesday, January 4

Ukraine’s energy system situation is complicated by maintenance on one of the NPP units.

Ukraine’s energy system situation is complicated by maintenance on one of the NPP units. On January 3, one of the units of the state energy company Energoatom was taken offline for a scheduled overhaul. The company noted that planned overhauls are carried out once every four years to ensu...

Ukrainian businesses will be allowed to import electricity from the EU to avoid blackouts.

Ukrainian businesses will be allowed to import electricity from the EU to avoid blackouts. The Cabinet of Ministers approved a regulation that deals with the peculiarities of the import of electric energy during the autumn-winter period of 2022/2023 under martial law. The document creates c...

Tuesday, January 3

Last year, gas production in Ukraine decreased by only 3%.

Last year, gas production in Ukraine decreased by only 3%. In 2022, state gas mining company Ukrgazvydobuvannya, despite the destruction and occupation of part of its production facilities in the east of the country, produced 12.5 billion cubic meters of natu...

The EU reduced the supply of Russian oil by 90%.

The EU reduced the supply of Russian oil by 90%. As a result of the reduction in oil imports the Russian Federation’s profits have decreased, said Matti Maasikas, the EU ambassador to Ukraine. He recalled that after Russia’s full-scale i...

Wednesday, December 28

A US company will assess oil and gas reserves in Ukraine.

A US company will assess oil and gas reserves in Ukraine. Ukrnafta hired the American company Miller and Lents, Ltd. to assess Ukraine’s oil and gas reserves. The relevant contract for $240,000 was concluded on December 20, according to data from the ...

Ukraine has increased the Russian oil transit tariff by 18%.

Ukraine has increased the Russian oil transit tariff by 18%. Beginning January 1, 2023, Ukraine will raise the tariff for the transportation of Russian oil through the Ukrainian section of the Druzhba pipeline in the direction of Slovakia and Hungary by €2.1 to...

Monday, December 26

Warm weather has caused gas prices to plunge in Europe to below pre-war levels.

Warm weather has caused gas prices to plunge in Europe to below pre-war levels. Gas prices in Europe have fallen below the level observed before Russia’s war in Ukraine. The price at the TTF hub in the Netherlands fell by another 10% on December 23 to €83/MWh (about $920 pe...

Crude oil prices increased due to production cuts by the Russian Federation.

Crude oil prices increased due to production cuts by the Russian Federation. Oil prices rose by $2 a barrel on December 23 after Moscow said it might cut crude output in response to G7 price caps on Russian exports. This was the reason for the increase in prices for the second...

The IAEA keeps negotiating with Russia to create a safety zone around the ZNPP.

The IAEA keeps negotiating with Russia to create a safety zone around the ZNPP. Director General of the IAEA, Raphael Grossi, held another round of negotiations in Moscow regarding creating a demilitarized zone around the Zaporizhia NPP captured by the Russians. According to him,...

Thursday, December 22

To reduce dependence on the Russian Federation, the EU will resume uranium mining in 2024.

To reduce dependence on the Russian Federation, the EU will resume uranium mining in 2024. According to the company’s website, the Finnish company Terrafame has announced its intention to start mining uranium by the summer of 2024. Uranium will be exported abroad for further processin...

Wednesday, December 21

Russian gas flows to the EU were unaffected by a pipeline explosion.

Russian gas flows to the EU were unaffected by a pipeline explosion. An explosion hit a Russian natural-gas pipeline that goes to Ukraine for further supply to Europe, reported Bloomberg. The blast occurred on a section of the Urengoy-Pomary-Uzhgorod link. However, the...

Urenco will supply Ukraine with enriched uranium beginning in 2026.

Urenco will supply Ukraine with enriched uranium beginning in 2026. Energoatom President Petro Kotin and Urenco Director Borys Shukhta have agreed on long-term cooperation to provide enriched uranium to Ukrainian nuclear power plants starting in 2026. According to Ene...

Tuesday, December 20

The European Union agrees to set the gas-price cap at €180.

The European Union agrees to set the gas-price cap at €180. European nations have reached a deal to cap natural gas prices at €180, ending months of political wrangling over whether to intervene in an energy crisis that has risked pushing the region into a rec...

A $1T energy bill for the EU is only the beginning of the crisis.

A $1T energy bill for the EU is only the beginning of the crisis. Europe has been hit by roughly $1T in surging energy costs resulting from the fallout of Russia’s war in Ukraine, and the most profound crisis in decades is only getting started. After this winter, ...

The gas price ceiling will help to replenish storage before next winter.

The gas price ceiling will help to replenish storage before next winter. The compromise reached between the energy ministers from the EU countries regarding the introduction of the gas prices ceiling is a clear signal that the EU will not buy natural gas at a price higher ...

The energy system is in poor condition and power outages may be be extended.

The energy system is in poor condition and power outages may be be extended. Ukraine’s power system is in a difficult situation, emergency power outages are ongoing in 10 regions, and recovery may take a long time, reported the state energy company, Ukrenergo. The operat...

Monday, December 19

An energy cable will be laid across the Black Sea.

An energy cable will be laid across the Black Sea. The EU supports a project to lay an energy cable in the Black Sea, said the President of the European Commission, Ursula von der Leyen. Romania, Georgia, Azerbaijan, and Hungary will participate in th...

Friday, December 16

Canada has renewed sanctions against Russian Nord Stream.

Canada has renewed sanctions against Russian Nord Stream. The Canadian government has renewed sanctions on turbines for Russia’s Nord Stream gas pipeline, which were lifted at the request of Germany in the summer, Canadian Foreign Affairs Minister Mela...

Thursday, December 15

Ukraine is waiting for ENTSO-E to increase the import of electricity.

Ukraine is waiting for ENTSO-E to increase the import of electricity. Ukraine expects to cover the electricity shortage in its power system as much as possible by importing electricity from Europe. For this to take place a decision by ENTSO-E on increasing the carrying ...

The EU opens the door to the underground gas storage market for Ukraine.

The EU opens the door to the underground gas storage market for Ukraine. Two decisions have been adopted in Ukraine, allowing Ukrtransgaz to enter the market of underground gas storage in the European Union. The Ukrainian Parliament has adopted draft law No. 8158, which fo...

Wednesday, December 14

Zelenskyy asks for the organization of €800M in electricity imports for Ukraine.

Zelenskyy asks for the organization of €800M in electricity imports for Ukraine. President Volodymyr Zelenskyy has asked for support in organizing the import of up to 2 GW of electricity to Ukraine this winter, worth about €800M at current prices, to fight against Russian energy t...

The French electricity distribution company, Enedis, will undertake a master plan to develop Ukrainian power grids.

The French electricity distribution company, Enedis, will undertake a master plan to develop Ukrainian power grids. The Minister of Energy of Ukraine, Herman Galushchenko, and the President of Enedis, Marianne Lenyo, agreed on cooperative work to develop a master plan for the improvement of Ukraine’s power grids. A...

A 1,000 MW nuclear power unit has been repaired and started supplying electricity.

A 1,000 MW nuclear power unit has been repaired and started supplying electricity. State energy company Energoatom has connected an additional 1,000 MW nuclear power unit, which has been under repair for the past three weeks, to the power grid,the Ministry of Energy reported. It ha...

Tuesday, December 13

Most of Ukraine’s generating capacities have been restored, but a significant electricity deficit remains.

Most of Ukraine’s generating capacities have been restored, but a significant electricity deficit remains. As of the beginning of the week, Ukrainian energy workers restored most of the generating capacities in the country’s energy system. However, the destruction caused by the Russian missile attack...

Monday, December 12

Erdogan decides to organize gas exports to the EU, bypassing Russia.

Erdogan decides to organize gas exports to the EU, bypassing Russia. On December 14, Turkish President Recep Erdogan will discuss with the presidents of Turkmenistan and Azerbaijan the possibility of exporting Turkmen gas through his country to the EU, writes Bloomberg...

Ukraine plans to double commercial electricity tariffs.

Ukraine plans to double commercial electricity tariffs. The national energy company, Ukrenergo, has proposed an increase in tariffs for the transmission of electricity and for dispatching management beginning January 1, 2023. In particular, the company of...

Friday, December 9

Russia continues sabotaging the world with its Zaporizhzhia NPP occupation.

Russia continues sabotaging the world with its Zaporizhzhia NPP occupation. Russian troops have placed several Grad rocket launchers near power unit number six of the occupied Zaporizhzhia nuclear power plant, near the plant’s dry storage of spent nuclear fuel, Ukraine’s nucl...

Thursday, December 8

The US and Britain become energy partners to end Europe’s dependence on Russia.

The US and Britain become energy partners to end Europe’s dependence on Russia. On December 7, the United States and Great Britain announced the creation of a partnership under which they will work to reduce global reliance on Russian energy exports, stabilize energy markets, and...

The Ukrainian electricity market operator will begin preparations for the unification of the Ukrainian and European spot markets.

The Ukrainian electricity market operator will begin preparations for the unification of the Ukrainian and European spot markets. The market operator joined the Committee of European Market Operators, the NEMO Committee, in the status of an observer of the operation of the unified spot market of electric energy of the EU, the st...

Russia has changed their narrative regarding the safety zone around the Zaporizhzhia NPP.

Russia has changed their narrative regarding the safety zone around the Zaporizhzhia NPP. Russian media reports that the Ministry of Foreign Affairs of Russia will strive to reach an agreement on creating a protective area around the ZNPP by the end of the year. “We will strive for t...

Wednesday, December 7

The EU is discussing the upper limit of the gas price cap at €220.

The EU is discussing the upper limit of the gas price cap at €220. EU countries on Tuesday considered the latest proposal to reduce the gas price gap to €220 per MWh, a week ahead of a meeting where they hope to resolve the issue. Several nations, including Europe...

Russia’s invasion of Ukraine will lead to a doubling of green energy capacity.

Russia’s invasion of Ukraine will lead to a doubling of green energy capacity. The International Energy Agency (IEA) noted that the global capacity of renewable energy will double over the next five years. Experts predict that worldwide capacity will increase by 2,400 GW to 5,64...

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