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Energy & Environment
Slovenia Wins Contest to Host European Energy Agency
Thursday, December 10, 2009
The European Union chose Slovenia’s capital Ljubljana as the headquarters of an energy agency that will help spur competition in the EU electricity and natural-gas markets, highlighting growing eastern demand for such rewards. Ljubljana defeated Romania’s capital Bucharest and Slovakia’s capital Bratislava in the contest to be the seat of the Agency for the Cooperation of Energy Regulators. The organization will oversee national authorities and transmission- system operators, advise EU ...
Wind energy projects worth 2bln euros in northern Romania
Thursday, December 10, 2009
A consortium headed by Celsa Team SRL plans to invest about two billion euros in the development of several wind parks in the eastern Iasi County and the first turbine might be erected next year, in the area of Mironeasa- Tibana village area. Celsa Team SRL manager Adrian Gavrila said that the project is at an advanced stage, land having been already bought and concessions concluded. According to him the Consortium plans to have 250 wind turbines erected in the eastern counties ...
Programme meant to reduce carbon dioxide emissions to cost Romania 6.1 billion euros till 2015
Thursday, December 10, 2009
The cost Romania will have to bear in order to be in keeping with the pledges it made to the European Union as regards reducing the carbon dioxide emissions is 6.1 billion euros till 2015 and 12.5 billion euros till 2020, reads a report drawn up by the Romanian Centre for European Policies (CRPE).According to the above-mentioned source, the contribution mainly consists of increasing the renewable energy levels and energy efficiency projects in residential buildings, industry and ...
Romania to guarantee Transgaz’s EUR417M contribution to Nabucco
Thursday, December 10, 2009
Romanian gas pipeline operator Transgaz Medias’s (TGN.RO) contribution to the Nabucco project, amounting to EUR417 million, will be guaranteed by the state, according to a draft executive decision approved Wednesday. Romania's government approved a draft law ratifying the agreement signed in July between Romania, Austria, Hungary, Turkey and Bulgaria regarding the construction of the Nabucco pipeline.The draft law was sent to parliament for urgency debates, caretaker Premier Emil Boc said. ...
Romania campaigns for greenhouse gas emissions cuts in Copenhagen
Thursday, December 10, 2009
Romania and its EU partners will make the required efforts, at the 15th climate change - COP 2009 Conference in Copenhagen to boost the negotiations process, so that the accord to be concluded should generate obligations of attaining some tangible targets of cutting greenhouse gas emissions in all the developed countries, reads the Ministry of Agriculture, Forestry and Rural Development (MAPDR) release on Monday.Romania is attending the United Nations Climate Change Conference in ...
Hidroelectrica contracts banking loan worth 60 M euros
Thursday, December 3, 2009
The hydroelectric plant Hidroelectrica contracted a loan worth 60 million euros, with another three loans to be contracted possibly by year-end, general manager Mihai David on Thursday announced, in the end of the 80th session of the Romanian-Serbian joint commission for Iron Gates hydroelectric plant (southeastern Romania, on the Danube River).He also specified half the loan contracted on Wednesday will be available right away, following the remaining 30 million to enter the ...
Hidroelectrica to organise a tender in 2010 for Islaz waterpower plant
Thursday, December 3, 2009
Hidroelectrica will organise a tender in the spring of 2010 for the construction of a waterpower plant at Islaz, on the Olt River, Hidroelectrica Director General Mihai David said at the end of the 80th session of the Joint Romanian-Serb Commission for the Iron Gates.He said the investment is estimated at 316 million euros, for a four-unit plant with an installed power of 28 MW.Works on the Islaz plant will last four years, said David, adding that the Serb party was informed about ...
Nucleareletrica sells 836,000 MWh in November on OPCOM
Thursday, December 3, 2009
As many as 836,000 MW was sold in November on the Centralized Market for Bilateral Contracts (OPCOM), the sole bidder being Nuclearelectrica, according to figures carried on OPCOMS's web site. Nuclearelectrica has released five sell offers, each targeting 167,200 MWh at a starting price worth 160MWh. The electricity is to be delivered over January 1-Dec. 31 2010, with pauses during the unplanned stops of the Cernavoda-based nuclear power plant's units. Buyers are Electromagnetica ...
Hidroelectrica borrows €60 million
Thursday, December 3, 2009
State-owned electricity generator Hidroelectrica borrowed €60 million from a private bank, and is in advanced talks for another three loan facilities of €30.70 million and €135 million, said the managing director of the company, Mihai David. “The loan arrangement has been finalized yesterday (e.n Wednesday, November 25). Half of the amount will be disbursed soon, and the remaining €30 million in the first half next year. Soon, we will conclude the other three agreements for €30 million, €70 ...
Electric power made from vegetable scraps in Buzau
Thursday, December 3, 2009
A company from the US will produce in Buzau (north-east of Bucharest) electric power from barley and wheat straw as well as from other vegetable scraps, said mayor of the city of Buzau Constantin Boscodeala.The town planner told a news conference on Thursday that 'an American company wants to build a plant making power from barley and wheat straw as well as from other vegetable scraps.' The building would be erected near malt producing plant, which was built by the French company ...
Gabriel directors resign, CFO to leave
Thursday, December 3, 2009
TSX-listed Gabriel Resources, which is already looking for a new CEO, said on Friday that three directors will leave the board immediately and that the company's CFO and general counsel will both resign within the next four months.Directors Alan Hill, who resigned as CEO in March, Britt Banks and Randy Engel are stepping down effective immediately, while finance chief Richard Young and general counsel Frank Wheatley will depart in the future to “pursue other interests”, Gabriel ...
EC sets deadline for details on reactors 3 and 4
Thursday, December 3, 2009
The European Commission has given Romania until January 2010 to present technical and economic details requested by the institution on nuclear reactors 3 and 4 the country will build at Cernavoda, director of Nuclearelectrica, Pompiliu Budulan told NewsIn.“The European Commission has sent us the main areas of interests related to the reactors 3 and 4 from Cernavoda. The European Commission has set a deadline for January to provide it with these details, and we have the obligation to respond ...
France joins South Stream gas pipeline
Thursday, December 3, 2009
French company Electricité de France (EDF) on 27 November signed a memorandum of understanding with Russia's Gazprom regarding its possible participation in the South Stream gas pipeline, seen as a competitor to the EU-backed Nabucco project. The document, which concerns EDF's participation in the construction of the offshore section of the South Stream pipeline, was signed in Paris during a visit by Russian Prime Minister Vladimir Putin. The memorandum specifies that the details of EDF's ...
Joint statement by Multilateral Development Banks and the IMF in anticipation of the Copenhagen Conference
Thursday, December 3, 2009
Leading international financial institutions committed to fight against climate change and call for comprehensive Copenhagen agreementThe heads of the world’s leading international financial institutions today called for a comprehensive agreement to combat climate change at this month’s Copenhagen Conference and agreed to further coordinate their own efforts to help achieve the meeting’s ambitious goals.In a joint statement, the leaders pledged to use their own ...
Oil and gas royalties drop 18% in Jan-Sep
Thursday, November 26, 2009
National Agency for Mineral Resources said the royalties from companies that pump oil and natural gas from Romanian territory in the nine months ending September 30 fell 18.5% to 667 million lei (€157.7 million) from the same period of last year. The royalty paid by companies under oil exploration agreements in Jan-Sep 2008 period stood at 819.263 million lei.“Reasons underlying the decline in royalties are first of all the drop in oil and natural gas production, in the benchmark price of ...
White&Case provides legal advisory to EnergoNuclear
Thursday, November 26, 2009
Law firm White&Case signed €400,000 contract with EnergoNuclear, the constructor of 3 and 4 reactors from Cernavoda nuclear power plant for 10 years, said the managing director of EnergoNuclear, Dan Ionescu.“The contract was concluded few days ago, effective immediately and will span 10 months, until September 2010 when the pre-project phase begins. EnergoNuclear decided to award the contract to White&Case due to its international expertise, under the provisions of the regulations in force”, ...
Companies in energy sector make 1.2bln euros worth of investments
Thursday, November 26, 2009
The investments in the projects conducted by the companies in the energy sector totalled 1.2 billion euros this year, which has brought about a recovery of the Romanian economy, Economy Minister Adriean Videanu told a news conference on Thursday.'The October results prove that the economic downturn has come to an end. Growth will be reported in November and December. The energy sector is the one having put an end to the economic drop. As much as 1.2 billion euros was invested in the ...
Imports of natural gas down 18.8 pct in January-September
Thursday, November 26, 2009
Romania imported 2.963 M TOE (tonnes of oil equivalent) of natural gas January through September this year, that is a decrease by 18.8 percent (687,300 TOE) compared with the same interval a year before, according to data centralized by the National Institute of Statistics (INS).The domestic production totalled 7.1 M TOE, that is a decrease by 5.4 percent (411,800 TOE) compared with the January-September 2008 interval. ...
Romania's three-quarter coal output at 4.89 toe
Thursday, November 26, 2009
Romania's net coal output over the first nine months of the year was of 4.89 million tonnes of oil equivalent, by 3.5 percent less (plus 163,100 toe) against the same period in 2008, according to data centralized by the National Institute of Statistics.Between January-September 2009, Romania's net imports of coal amounted to 2.297 million toe, by 663,900 (40.6 percent) more compared to same period of the previous year. ...
Azomures challenges fine over ammonia emissions
Thursday, November 26, 2009
Romanian-based fertilizer producer Azomures (ticker: AZO) said it would challenge in court the decision of the National Guard for the Environment to impose a fine of 80,000lei for higher-than-permitted ammonia emissions, citing disregard to weather conditions when the measurements were carried out.“The evaluation of ammonia emission abatement carried out by Environmental Protection Agency (AMP Mures) during November 19 and 22 was conducted under heavy fog conditions which hindered the ...