NORD STREAM'S EXTENSION
The plan to build a new gas pipeline linking Russia with Germany is politically motivated and will deepen European Union's reliance on gas deliveries from Russia, the Polish energy minister said on Friday.
Krzysztof Tchorzewski was speaking after a meeting with EU Climate and Energy Commissioner Miguel Arias Canete, who he said agreed with that view.
Known as Nord Stream 2, the pipeline would be an extension of the existing link, that would enable Russia to deliver increased volumes of gas straight to Germany.
Russia's Gazprom and a group of European companies agreed on the project last year, raising protests mostly among central and southern European countries.
"The two sides agreed that the project has no business ground and is carried out only due to political reasons," the Polish Energy Ministry said in a statement following the visit of Miguel Arias Canete.
Polish Energy Minister Krzysztof Tchorzewski also said that Poland expects the European Commission to publish as soon as possible the draft of a gas winter package.
Lat year Russia, Ukraine and the Commission initialled a deal on a so-called "winter package", to secure winter gas supplies for Kiev.
The minister also told Arias Canete that Poland is ready to talk with the Baltic states on power markets integration. Poland's electricity market is one of the most isolated in the EU.
Tchorzewski also asked Arias Canete for support in launching flow-based cross-border capacity calculations, that would help prevent the so called loop flows of electricity generated from renewable sources in Germany to Poland, which limit the latter's import capacities.
|September, 20, 09:05:00|
|September, 20, 09:00:00|
|September, 20, 08:55:00|
|September, 20, 08:50:00|
|September, 20, 08:45:00|
|September, 20, 08:40:00|
BP and its partners in Azerbaijan's giant ACG oil production complex agreed Thursday to extend the production sharing contract by 25 years to 2049 and to increase the stake of state-owned SOCAR, reducing the size of their own shares.
The U.S. current-account deficit increased to $123.1 billion (preliminary) in the second quarter of 2017 from $113.5 billion (revised) in the first quarter of 2017, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit increased to 2.6 percent of current-dollar gross domestic product (GDP) from 2.4 percent in the first quarter.
U.S. West Texas Intermediate (WTI) crude futures CLc1 were trading up 41 cents, or 0.8 percent, at $50.30 by 0852 GMT, near the three-month high of $50.50 it reached last Thursday. Brent crude futures LCOc1, the benchmark for oil prices outside the United States, were at $55.91 a barrel, up 29 cents, and also not far from the near five-month high of $55.99 touched on Thursday.
“The principal risk regarding Russian and Chinese activities in Venezuela in the near term is that they will exploit the unfolding crisis, including the effect of US sanctions, to deepen their control over Venezuela’s resources, and their [financial] leverage over the country as an anti-US political and military partner,” observed R. Evan Ellis, a senior associate in the Center for Strategic and International Studies’ Americas Program.