RUSSIAN GAS DOWN
Russia cut natural gas supplies to European Union member Slovakia by 50% Wednesday, Moscow's latest and most significant reduction in energy supplies to an EU country that is helping Ukraine build gas supplies ahead of winter.
Slovakia's prime minister said the supply cut is a politically driven message to the EU as it negotiates fragile gas talks between Moscow and Kiev.
"What's interesting in the case is that it isn't about a lack of gas, but this is about playing with gas supplies as an instrument of political posturing," Robert Fico said Wednesday.
Slovakia this year began supplying natural gas to its eastern neighbor as an act of solidarity after Russia's OAO Gazprom stopped supplying Ukraine with gas in June amid a price dispute and the broader conflicts between the two countries.
Mr. Fico said Slovakia will "fulfill its commitments" to supply Ukraine with the fuel.
Eustream, the Slovak gas pipeline operator, Wednesday said its supplies to Ukraine were taking place without interruption.
Gazprom earlier reduced gas flows to Slovakia and Austria, as well as to Poland, which also is supplying Ukraine with gas.
Hungary, which had been supplying gas to Ukraine, last week halted all gas shipments there, leaving Slovakia and Poland as Ukraine's lone suppliers.
Hungary Wednesday said it is receiving all contracted supplies of gas from Russia.
The fall in supplies to the EU states comes as Russia and Ukraine have been unable to agree on terms to resume gas flows to the former Soviet country.
Last Friday the two sides agreed to a tentative deal brokered by European Commissioner for Energy Günther Oettinger, but Moscow and Kiev haven't agreed on details and the compact remains on ice as the winter heating season approaches.
As of Sept. 30, Ukraine's underground gas storage facilities were only at 52% of capacity, according to Gas Infrastructure Europe, a Brussels-based trade group. Ukraine faces a gas shortage if supplies cannot be resumed, analysts have said.
To cope domestically with the fall in gas supplies, Slovakia's natural gas import and distribution company SPP AS said that it has made an "extraordinary purchase" of gas on the spot market from alternative suppliers. The volume it acquired is sufficient to cover the current daily consumption of its customer base, while also enabling the country to continue filling its underground storage facilities, the company said.
Slovakia's storage facilities were at 95% of capacity on Tuesday.
SPP said it would continue injecting gas into the underground storage units until the end of October and Slovak households and businesses will continue to receive all gas needed.
Should gas supplies to Slovakia remain reduced or even stop, SPP said it has adopted measures enabling it to source gas from Austria, the Czech Republic and Germany.
Mr. Fico said he doesn't believe Russia will completely halt gas supplies to the EU country.
|December, 15, 13:20:00|
|December, 15, 13:15:00|
|December, 15, 13:10:00|
|December, 15, 13:05:00|
|December, 15, 13:00:00|
|December, 15, 12:55:00|
LUKOIL - The plan is based on the conservative $50 per barrel oil price scenario. Sustainable hydrocarbon production growth is planned in the Upstream business segment along with the growth in the share of high-margin projects in the overall production. In the Downstream business segment, the focus is on the improvement of operating efficiency and selective investment projects targeted at the enhancement of product slate.
BP - BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. The great majority of this investment will fund Lightsource’s worldwide growth pipeline. The company will be renamed Lightsource BP and BP will have two seats on the board of directors.
REUTERS - Brent crude was up 69 cents, or 1.1 percent, at $64.03 a barrel by 0743 GMT. It had settled down $1.35, or 2.1 percent, on Tuesday on a wave of profit-taking after news of a key North Sea pipeline shutdown helped send the global benchmark above $65 for the first time since mid-2015. U.S. West Texas Intermediate crude was up 45 cents, or 0.8 percent, at $57.59 a barrel.
ROSATOM - On December 10, 2017, the construction start ceremony took place at the Akkuyu NPP site under a limited construction licence issued by the Turkish Atomic Energy Agency (TAEK). Director General of the ROSATOM Alexey Likhachev, and First Deputy Minister of Energy and Mineral Resources of the Turkish Republic, Fatih Donmez, took part in the ceremony.