EUROPE GAS NETWORK
Hungary, Romania, Bulgaria and Slovakia will sign an agreement to interconnect their natural gas networks whih to allow also the reverse transit, announced on Thursday night the Hungarian minister of Foreign Affairs and Trade Peter Szijjarto on the Hungarian public television station M1, MTI reports, according to Mediafax.
The agreement aims to increase the security of energy supply of all the four countries, stressed Szijjarto. The partners can access both European funds and money from national budgets to finance the necessary investments, he added.
In the context of cancellation of the Nabucco and South Stream projects, it is necessary for countries in the region to seek new opportunities and solutions for the diversification of natural gas supply, the minister said.
"As long as gas networks in the region are not connected and as long as no investment is made in a strategic pipeline, we cannot talk about energy security in Central Europe," said Szijjarto.
The agreement was to be signed at the Eastern Partnership summit in Riga, he announced.
The commercial exploitation of an interconnection between networks in Hungary and Slovakia will become operational this summer, and Hungary and Romania are working to establish a reverse flow between their gas networks.
|November, 24, 09:45:00|
|November, 24, 09:40:00|
|November, 24, 09:35:00|
|November, 24, 09:30:00|
|November, 24, 09:25:00|
|November, 24, 09:20:00|
BLOOMBERG - As Saudi Arabia led OPEC’s output cuts this year to shrink a global glut, it’s lost out on market share in the world’s biggest energy consumer. Russia in September retained the top Chinese supplier spot for the seventh straight month, while the kingdom was third.
PLATTS - The quality of Russia's key Urals crude exports towards Europe will continue to fall next year as more of the country's low-sulfur oil flows are diverted eastward to China, Russian national oil pipeline operator Transneft warned.
FT - OCI — the world’s third-largest polysilicon maker by capacity and South Korea’s biggest — this month reported a 3,373 per cent increase in operating profit to Won78.7bn ($72m) for the July-September quarter, its best performance in five years. Rival Hanwha Chemical saw third-quarter net profit jump 25 per cent to a record Won252bn.
U.S. Rig Count is up 330 rigs from last year's count of 593, with oil rigs up 273, gas rigs up 58, and miscellaneous rigs down 1 to 0. Canada Rig Count is up 41 rigs from last year's count of 174, with oil rigs up 13, gas rigs up 30, and miscellaneous rigs down 2 to 2.