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Energy & Environment

Interview with Pál Ságvári: Hungary’s response to risks related to natural gas supply

Thursday, September 12, 2019

Pál Ságvári, Ambassador-at-Large for Energy Security, Ministry of Foreign Affairs and Trade of Hungary talks about energy security, diversification of gas supply and alternative routes. Pál Ságvári will be one of the speakers of Budapest LNG Summit from 2-3 December ...

Final electricity consumption up 0.3 pct in first seven months, households consumption 19.4 pct higher

Thursday, September 12, 2019

During 1.I – 31.VII.2019, primary energy resources increased by 2.9%, while those of electricity decreased by 3.0% as compared to the same period of previous year. The final electricity consumption in the first seven months of the current year was 32.556 billion kWh, 0.3 pct higher from the same period of 2018, given that public lighting registered an increase of 12.5 pct, and household consumption rose by 19.4 pct, shows data of the National ...

ANRE sent letter to EC to warn about significant chance of Russia cutting gas deliveries to Ukraine

Thursday, September 12, 2019

The risk of Russia cutting gas transit through Ukraine is mentioned by Romania's energy market regulator ANRE in a document for the second time. This time, it's a letter it sent to the EU last week. According to the document, which was seen by HotNews.ro, ANRE mentions speculation about gas prices in the context of a significant probability of interruption in natural gas deliveries through Ukraine.The letter was sent as part of moves related to a gas-related infringement ...

On-bill financing in Europe: a new project to scale up investments towards deep energy renovations of residential buildings 

Thursday, September 12, 2019

  In order to achieve the European Commission’s long-term energy vision for 2050, yearly energy investments in the EU need to almost double during the decade 2021- 30. Of these investments, energy efficiency improvements in residential buildings represent more than half. Deep retrofits will thus be critical, but, as they can be expensive, new and innovative ways of financing are vital. The Horizon2020 project RenOnBill promotes the development and implementation of on-bill schemes ...

ENEL LAUNCHES THE WORLD’S FIRST “GENERAL PURPOSE SDG LINKED BOND”, SUCCESSFULLY PLACING A 1.5 BILLION U.S. DOLLAR BOND ON THE U.S. MARKET 

Thursday, September 12, 2019

Enel Finance International NV has placed on the capital market the world’s first bond linked to the achievement of a sustainable objective, part of the Group’s corporate strategy and in line with Enel’s commitment to achieving the Sustainable Development Goals (“SDGs”) of the United Nations The issue was almost three times oversubscribed, with orders of about 4 billion US dollars. The strong demand from investors for ...

Petromidia Refinery – four decades of performances and professionalism

Thursday, September 12, 2019

Petromidia Refinery Navodari celebrates 40 years of activity, time frame when from one idea it reached to be the largest such unit in Romania and one of the most modern in the Black Sea region.  Petromidia started up its first installation in 1979 – Atmospheric Distillation – and since then it started an evolution carried on via major investments, every year. Only in 2019, 50 million dollars are allocated for the alignment and continuation of installation revamping, ...

FP portfolio manager Johan Meyer: investing in Cernavoda reactors 3 and 4 makes no sense financially

Thursday, September 5, 2019

Investing in reactors 3 and 4 of the Cernavoda nuclear power plant are not financially justified, and the subject is politically extremely sensitive, Johan Meyer, Franklin Templeton Investments CEO and Fondul Proprietatea portfolio manager told a news conference on Wednesday.Investing in reactors 3 and 4 makes no sense financially whatsoever. Secondly, the fact that the Chinese partner is now being subjected to sanctions in the United States makes this subject extremely sensitive ...

Reuters: Test-ban body chief enters race to lead U.N. nuclear watchdog

Thursday, September 5, 2019

 The head of the global nuclear test-ban agency is running to become the next director general of the U.N. atomic watchdog, he told staff on Wednesday, bringing the number of candidates to four from three continents. International Atomic Energy Agency Director General Yukiya Amano died in July as he was preparing to step down early because of an unspecified illness that had visibly weakened him over the previous year. His right-hand man, Cornel Feruta of Romania, is now ...

The Competition Council analyses the trading through which OMV Petrom Marketing takes over the petrol stations owned by Art Petrol 

Thursday, September 5, 2019

The Competition Council announced on Monday that they analyse the trading through which OMV Petrom Marketing takes over the petrol stations owned by Art Petrol, and the operation would surpass the value thresholds included in the law.  ‘In accordance with the provisions of the law of competition (no.21/1996) this operation is an economic concentration which surpasses the value thresholds included in the law, being under the control of the Competition Council. The ...

Transgaz to build gas pipeline for Black Sea Oil & Gas offshore project

Thursday, September 5, 2019

Romanian state-owned company Transgaz will build until 2021 a gas pipeline connecting the shore of the Black Sea to the national transmission network in order to allow Black Sea Oil & Gas to sold output from its offshore project. The gas pipeline will have a total length of 24.4 km and will be build from the shore of the sea, at Corbu, to ...

Vestas to sell majority stake in three wind power plants in Romania for 136 mln euro

Thursday, September 5, 2019

Danish wind turbine manufacturer Vestas said it has entered into an agreement to sell 80% of its shares in the subsidiaries owning the Romanian wind power plants Pantelimon, Pegasus, and Apollo to a non-disclosed buyer for 136 million euro ($151 million). Closing of the transaction is expected to take place within eight to ten weeks, Vestas said in a press release on Wednesday. The transaction is subject to certain closing conditions, including approval by the Romanian ...

Opposition tries to amend GEO 114/2018, PSD manages to block the return to free markets

Thursday, September 5, 2019

Deputies from the Committee of Budget postponed discussions on GEO 114/2018, with subsequent changes, after the members of the Committee for Industry had previously voted to eliminate the provisions with major impact on the energy markets. During Tuesday’s meeting, ALDE and UDMR representatives in the Committee did not attend, which allowed PSD representatives to have the final say. The elimination of the provisions of GEO 114 could still occur soon, but it all depends on the ...

GEO 114/2018 triggered two new infringement files against Romania; deadlines are close

Thursday, September 5, 2019

Of the 65 active infringement files of Romania at the European Commission, 15 refer to violations of EU law in the fields of environment and climate policies, and six files concern the energy field directly. Two were launched in 2019, following the adoption and implementation of the Government Emergency Ordinance (GEO) 114 of December 2018. Both refer to the impact of GEO 114 in the natural gas sector. The Commission calls on Romania to remove the barriers to natural gas exports; in ...

Stoica, BRM – Waiver of GEO 114 means a return to normal, but the effects will come slowly

Thursday, September 5, 2019

The natural gas market made a tough debut in Romania, being strongly influenced by the political factor. The market started operating a few years ago, when both the law and the secondary regulations functioned within normal parameters, says Septimiu Stoica, President of the General Meeting of Shareholders of the Romanian Commodities Exchange – BRM, during the Energy Breakfast Club – Oil & Gas – E&P, Transport and ...

Zelenskiy slams Nord Stream 2 as Ukraine seeks LNG gas from the US

Thursday, September 5, 2019

Ukraine’s president on Saturday (31 August) slammed the controversial Nord Stream 2 pipeline set to send Russian gas to Germany as a “threat” to Europe and welcomed moves by Kyiv to tap into US gas supplies. Volodymyr Zelenskiy made the comments beside Poland’s President Andrzej Duda in Warsaw, where he attended the ceremonies marking 80 years since the outbreak of World War II. “We hold the same position as Poland: Nord Stream 2 is unacceptable ...

Nord Stream 2 gas pipeline is 75% complete

Thursday, September 5, 2019

Nord Stream 2 gas pipeline is 75% complete, the project’s operator, Nord Stream 2AG, said in a statement. A total of 1,855 kilometers of the Nord Stream 2 pipeline were built along the bottom of the Baltic Sea in the waters of Russia, Finland, Sweden and Germany. That’s about 75 percent of the total length of the pipeline, the release said. Nord Stream 2 AG will be launched in the final quarter of the year. The pipeline has been completed in the waters of Germany ...

ANRE warns of risk of gas supply shortage this winter due to possible transit reduction

Thursday, August 29, 2019

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 In a document posted on its website, the National Energy Regulatory Authority (ANRE) cautions against the risk of a gas supply shortage this winter, which could leave some of Romania's consumers unsupplied, given that there are "reasonable suspicions" that the gas transit through Ukraine will be reduced."Considering that there are reasonable suspicions that natural gas supplies via Ukraine will be reduced for the 2019 - 2020 winter, there is a risk ...

Eurostat:Romania, one of the EU countries least dependent on oil imports

Thursday, August 29, 2019

Romania is among the EU states that are the least depended on the oil imports, with a 61% share of the net imports in the oil consumption, according to the latest findings on 2017 released by Eurostat. In 2017 the European Union (EU) relied on net imports for 87% of its oil consumption. This ratio, known as the oil import dependency rate, is unchanged from 2016 and two percentage points below the peak of 89% recorded in ...

Bulgarian ForMin Zaharieva: Gas inter-connector with Romania to be completed by end of 2019

Thursday, August 29, 2019

 Bulgaria's Deputy Prime Minister and Foreign Affairs Minister Ekaterina Zaharieva stated on Monday that the gas inter-connector with Romania and the compression station will be completed by the end of this year.The high official mentioned that the Bulgarian Government is working very much with Romania's Government in terms of the energy and transport inter-connectivity. She mentioned talking about how important the energy diversification is for the two ...

ENEL ANNOUNCES CHANGES TO SENIOR MANAGEMENT IN ROMANIA 

Thursday, August 29, 2019

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Carlo Pignoloni becomes the new country manager for Enel in Romania  Enel S.p.A. (“Enel”) announces that, as of today, Carlo Pignoloni, who up until now was head of Enel Green Power’s operations in Italy, becomes the new country manager of Enel in Romania, replacing Georgios Stassis who left the Enel Group to take the helm of Greece’s top utility Power Public Corporation ...

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