CNBC Russia’s gas supplies to Eastern Europe are looking highly uncertain after the country’s state-run gas giant Gazprom told Poland and Bulgaria that it would halt supplies. The move comes after both countries refused Moscow’s recent demand to pay for gas supplies in rubles, but also coincides with a sharp rise in tensions between Western allies and Russia as the war in
Nasdaq BRUSSELS – Germany on Thursday lost its fight in Europe’s top court against a ruling limiting Gazprom’s GAZP.MM access to the OPAL pipeline that links the Russian gas producer’s Nord Stream pipeline to the country. The case is part of a long-running dispute over the transportation of Russian gas to Europe, which has pitted Poland and other eastern European countries against
Reuters WARSAW – Poland should scrap a plan to merge state-run energy groups after they have shifted coal assets into a separate entity because it won’t deliver on EU climate targets, a report by environmentalist group ClientEarth and think tank Instrat said. The chief executive of state-run utility PGE said last month that merging PGE with peers Tauron and Enea
Reuters WARSAW/MOSCOW – Poland has fined Russia’s Gazprom GAZP.MM more than 29 billion zlotys ($7.6 billion) for building the Nord Stream 2 gas pipeline without Warsaw’s approval, its watchdog said on Wednesday, prompting the company to say it will appeal. The project has stoked concern about Moscow’s dominance of European energy supplies and attracted U.S. sanctions, although rival sales of Azeri
Firm secured 20 year contract to supply gas to Poland starting in 2022 From Reuters Venture Global LNG Inc’s Calcasieu Pass liquefied natural gas (LNG) export terminal in Louisiana took a big step toward receiving federal approval for construction on Monday after staff at the U.S. energy regulator issued a final environmental report. In the report, known as a final
From AP/Washington Post WARSAW, Poland — The United States and Poland on Saturday took a strong stand against a planned gas pipeline linking Russia to Germany, saying it is part of a Kremlin scheme to politicize energy and undermine attempts to make Europe less dependent on Moscow. U.S. Secretary of State Rex Tillerson and Polish Foreign Minister Foreign Minister Jacek
Polish Oil and Gas Company Group (PGNiG) signed a five-year contract with the UK’s Centrica LNG Company Limited. The LNG supply will be sourced from Cheniere Energy’s Sabine Pass LNG Terminal, USA (ticker: LNG). The contract is on a DES delivery basis and will begin in 2018. Up to nine cargoes will be delivered during the term of contract to
Gazprom continues to sell an increasing amount of gas to Europe Russia’s state-owned gas giant Gazprom (ticker: OGZPY) announced its financial results for full-year 2016 Thursday, reporting a stronger profit despite lower sales prices. The company supplied a record 178.3 Bcm to what it calls the Far Abroad (Europe plus Turkey, excluding members of the former Soviet Union), but reported
Warsaw-based ORLEN announces two acquisitions ORLEN Upstream, a Warsaw, Poland, based subsidiary of PKN ORLEN SA (ticker: PKN), which trades on the Warsaw Stock Exchange, announced two separate acquisitions today for assets in Canada and Poland. The deals included the purchase of all outstanding shares of FX Energy (ticker: FXEN) for total consideration of US$119 million for assets concentrated in
Calling it quits in Poland ConocoPhillips (ticker: COP) has joined the ranks of oil majors saying “no more” to shale gas development in Poland. Tim Wallace, ConocoPhillips country manager in Poland, said the company would not continue shale gas development in Poland, reports Reuters. “We understand the disappointment surrounding this difficult decision,” said Wallace, but “unfortunately, commercial volumes of natural
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