Albania

Much promise, little joy in Albania's long search for oil – (Trust) In 35 years drilling for oil around the world, Leo Aubin says he's made a lot of money for a lot of people…

TAP is major contribution from Caspian region to Europe’s energy security – Ambassador – (Azernews) The final pipeline route connecting Caspian to Europe was the main topic of interview of Azerbaijani ambassador to the United States Elin Suleymanov to the E&E Publishing on July 9…

Bulgaria

Bulgaria's Energy Minister Pledges Increase in Coal Prices – (Novinite) Dragomir Stoynev, Bulgaria's Minister of Economy and Energy, has vowed an increase in coal prices by end-2013 from the current "unrealistically low" levels…

Commission opens proceedings against Bulgarian Energy Holding and its subsidiaries Bulgargaz and Bulgartransgaz – (Europa) The European Commission has opened formal proceedings to investigate whether Bulgarian Energy Holding (BEH), its gas supply subsidiary Bulgargaz and its gas infrastructure subsidiary Bulgartransgaz might be hindering competitors from accessing key gas infrastructures in Bulgaria, in breach of EU antitrust rules. An opening of proceedings does not prejudge the outcome of the investigation…

Bulgaria facing possible gas supply interruption this winter – (The Sofia Globe) Gazprom’s decision to halt prepayment of natural gas transit fees to Ukrainian gas company Naftogaz until at least 2015 creates the potential for modest supply disruptions in South-Eastern Europe this winter, credit ratings agency Fitch Ratings said…

Nuclear energy troubles of Turkey, Russia, Bulgaria – (World Bulletin) The three neighboring countries of Russia, Bulgaria and Turkey have encountered different problems regarding the generating of nuclear energy and the building of nuclear facilities, according to a report from the Kuzey News Ageny…

CEZ and businessmen from Sofia, Pernik discuss Bulgarian energy market – (Balkans) Energy market liberalisation and purchase of facilities were some of the main topics discussed by managers of companies from the CEZ Group in Bulgaria and businessmen from Sofia and Pernik on Tuesday, 24 Chasa daily reports…

Bulgaria will get 50% of a company shares for South Stream project without investing a dime: expert – (Focus) Bulgaria will receive 50% in a joint company for South Stream energy project without investing a dime in the construction of the gas pipeline. That is what energy expert Prof. Atanas Tasev stated for Radio FOCUS…

Energy prices key to Europe’s competitiveness – (Euro Politics) In May this year, the European Council gave a clear signal of the need for affordable and competitive energy prices and thereby fulfilled a long-cherished demand by businesses of all sizes and sectors….

Bosnia and Herzegovina

EBRD is launching €75 million Western Balkans sustainable energy financing facility – (Balkans) The European Bank for Reconstruction and Development (EBRD) is launching the €75 million Western Balkans Sustainable Energy Financing Facility II (WeBSEFF II) to improve energy supply in the eligible countries, with investments in energy efficiency and renewable energy projects…

EBRD announces $97m energy efficiency initiative – (Power Engineering)  The Balkans is set to benefit from an injection of funding aimed at driving energy efficiency and renewable power generation projects in the region.  The European Bank for Reconstruction and Development (EBRD) has unveiled the $97m (€75m) Western Balkans Sustainable Energy Financing Facility II (WeBSEFF II) and the initiative covers the countries of Albania, Bosnia and Herzegovina, Croatia, FYR Macedonia, Kosovo, Montenegro and Serbia…

Trans Adriatic-pipeline project to be discussed at the 2nd Balkans Oil & Gas Summit – (PR Web)  The 2nd Annual Balkans Oil & Gas Summit, taking place on 24th-25th September in Athens, will address the Trans-Adriatic pipeline project, including its history as a project that has been in discussion for more than a decade, developments it’s going to bring to regional and European markets, and opportunities for diversification of gas imports…

Croatia

EBRD grants EUR 60 million loan to Zagrebacka Banka – (Dalje) The European Bank for Reconstruction and Development (EBRD) and Croatia's Zagrebacka Banka (ZABA) in Zagreb on Thursday signed two loan agreements in the total amount of 60 million euros, of which 40 million is intended for private-sector projects and the rest for private and municipal energy efficiency and renewable energy projects…

Croatia to offer gas, oil concessions in 2014 – (Business Recorder) Croatia plans to sign agreements worth millions of dollars in 2014 for exploration and exploitation of gas and oil in the Adriatic and onshore, Economy Minister Ivan Vrdoljak said on Tuesday…

Croatia To Issue Licenses for Exploration of Oil and Gas –(Fried I News) According to Croatian Minister of Economy Ivan Vrdoljak, the government in Zagreb will designate possible oil and gas fields both in the Adriadic Sea and onshore until the beginning of next year…

Montenegro

Tiny Montenegro struggles with communist-era plant – (Bloomberg Business Week) Montenegro, the tiny country on the Adriatic coast, is struggling with the fallout of the bankruptcy of a massive, communist-era aluminum factory that has bled money for years…

Montenegro continues cooperation with EBRD in infrastructure, tourism, energy, finance, business – (Balkans) Montenegro will continue its cooperation with the European Bank for Reconstruction and Development (EBRD), by building on previous success in areas of infrastructure, tourism, energy, finance, and business and by boosting regional development cooperation, Prime Minister of Montenegro Milo Đukanović said at the press conference following his meeting with EBRD President Suma Chakrabarti…

Romania

After insolvency exit, Romania’s energy producer Hidroelectrica posts unexpectedly high profit in first half of 2013 – (Romanian Insider) Romania’s largest energy producer Hidroelectrica recorded a profit of around EUR 109 million (RON 481 million) in the first half of 2013, compared to a loss of RON 202 million reported in the same period in 2012, according to the company…

Romania’s energy consumption down 7.7 % while electricity production also down in first five months – (Romanian Insider) The electricity consumption in Romania was down 7.7 percent in the first five months of the year compared to the same period of 2012, according to Romania’s Statistics Institute…

Romania to delay IPO of nuclear energy company Nuclearelectrica – (Balkans) The IPO of Romanian nuclear energy company Nuclearelectrica is being postponed at least until late July after a dispute erupted between union members and the company's minority stakeholder Fondul Proprietatea…

Get the Frack out of Romania!  -(The Oxonian Globalist) While Romanians are constantly protesting against fracking, the government prefers to privilege economic interests at the expense of its voters’ desires, their health and the environment…

Romania must urgently change its energy strategy and start shale gas exploitation – (Act Media) President Traian Basescu said, in Brussels, he informed the European Council that Romania is to redefine its energy policy, pointing out that it has an obligation to speed up the evaluation process and to switch to shale gas exploitation…

Gehrlicher Solar completes three additional solar parks in Romania – (Renewable Energy Magazine) Munich-based Gehrlicher Solar has completed construction of three new solar parks in Romania on almost 19 hectares of land located about 360 km northwest of Bucharest…

Romania Infrastructure Report Q3 2013 - New Report Available – (SBWire) Romania's economy as a whole is estimated to have grown by 0.5% in real terms during 2012, and we forecast that growth in 2013 will be 1.7%, according to our Country Risk team's latest macroeconomic outlook…

Armenia

New gas and electricity prices came into effect in Armenia – (ARKA) The new tariffs for gas and electricity came into effect in Armenia on Sunday, July 7th. On June 7, Armenian’s public services regulatory commission approved the new price for gas for customers with monthly consumption of up to 10,000 cubic meters – 156,000 drams per every 1,000 cubic meters (including VAT), as compared to the previous 132,000 drams…

Armenia May Hand Gas Monopoly to Russians – (Institute for War and Peace Reporting) Controversy as government considers ceding total control of gas distribution and sales network… 

Armenia braces for gas-fired inflation hike – (BNE) Armenia is preparing for a sharp inflation hike as consumer prices are already reported to be reacting to the large increase in energy tariffs implemented on June 7. That move was in turn motivated by the recent hike in the price of Russian gas imports…

Training on how to protect people in case of NPP accident kicks off in Yerevan – (ARKA) “Atom 2013” training on national reaction in case of NPP nuclear accident kicked off yesterday in Yerevan, the Ministry of Emergency Situations (MES) told ARKA…

Gas tariff subsidization negotiation are in final stage – (ArmenPress) The negotiations with the Russian Federation on the Subsidization of the tariff for the natural gas entering the Republic of Armenia are in the final stage…

Energy Minister to announce results of gas price subsidy talks with Russia – (Pan Armenian) Armenia continues negotiations with Russia over gas price subsidizing, Energy Minister said promising to announce the results of talks in a few days…

SOCAR announces conditions for the start of gas supplies to Armenia – (Trend) If Armenia changes its stance with regards to the occupied territories of Azerbaijan, the supply of Azerbaijani gas to the country may be considered, SOCAR said on Monday…

Russia Confirms Interest in Armenia Gas Stake – (Asbarez) Russia’s Gazprom energy giant has expressed readiness to lower the price of its natural gas supplied to Armenia in return for gaining full ownership of the country’s gas distribution network…

Azerbaijan

Azerbaijani state energy company to get 20 pct stake in TAP – (Azernews) Three Shah Deniz Consortium members -- Azerbaijan's state energy company SOCAR, British BP and France's Total -- will get a total direct stake of 50 percent in Trans Adriatic Pipeline (TAP), the pipeline route connecting the resource-rich Caspian region to Europe…

Statoil to expand presence in Azerbaijan by tapping Caspian field – (Azernews) Norway's Statoil is interested in expanding its operations in Azerbaijan, Senior Vice President for Eurasia, Middle East and Asia in Statoil ASA, Torgeir Kydland, said at a meeting with President of Azerbaijan's state energy company SOCAR Rovnag Abdullayev…

Azerbaijani gas is set to flow to Europe – (Balkans) As any American following the Keystone XL pipeline saga knows, finding new energy reserves sometimes is the easy part, while getting the stuff to the folks who want it can be like the fifth labor of Hercules…

Azerbaijan committed itself to independent energy policy – (Azernews) For Europe, the seemingly Herculean task of attaining a diversified energy supply came late last week when the consortium operating the Shah Deniz gas field of Azerbaijan, stewards of what is thought to be the largest natural-gas discovery in a generation, selected the Trans-Adriatic Pipeline to funnel product from Azerbaijan into Europe, Azerbaijan's consul general to the Western United States Nasimi Aghayev said in his article published in Washington Times…

Azerbaijan ambassador to the US discussed final pipeline route connecting Caspian to Europe – (Trend) Azerbaijan ambassador to the United States Elin Suleymanov in interview to the E&E Publishing on July 9 discussed final pipeline route connecting Caspian to Europe, a Counselor of the Embassy of the Republic of Azerbaijan to the US reported…

Azerbaijan determines investors for alternative energy projects – (Mena) The State Agency on Alternative and Renewable Energy Sources of Azerbaijan has made a decision on the sources of funding of projects through external borrowings…

Capital of Azerbaijan Alternative Energy Ltd announced at level of AZN 51.5 million – (abc.az) The State Agency for Alternative and Renewable Energy (ABEMDA) has published the size of capital of Azalternativenerji Ltd (Azerbaijan Alternative Energy; Azaltenergiya). The Ministry of Taxes informs that Azalternativenerji Ltd passed state registration on 19 March with capital of AZN 51.48 million. Its director is Rizvan Veliev…

'Southern Gas Corridor to play important role in European energy security' – (News.az) E & E Publishing (USA), TV channel specializing in energy and environment, aired an interview with Azerbaijani ambassador to the United States Elin Suleymanov on 9 July…

Georgia

Bank of Georgia, Energy fund to finance construction of hydroelectrict power plants – (Azernews) Georgian Energy Development Fund and Bank of Georgia signed a memorandum on cooperation on July 10. According to the memorandum, the fund will carry out the construction of seven hydroelectric power plants in different regions of Georgia…

E-system for river energy potential to be introduced in Georgia – (Trend) A Memorandum of Understanding has been formalised with the Norwegian government to introduce an electronic system for the energy potential assessment of Georgian rivers…

Powerful hurricane left Georgian city of Rustavi without electricity and gas – (Trend) Authorities of the Georgian city of Rustavi started counting the damages caused by an overnight hurricane.  Strong wind and rains with hail damaged infrastructure of Rustavi on the night of July 5…

Russia

Gazprom OAO (EDR) : Gazprom and Bulgaria show interest in building South Stream as soon as possible – (4 Trader) Chairman of the Gazprom Management Committee, the Company's delegation paid a visit today to the Republic of Bulgaria…

19% of Russia’s electricity generating capacity in use for more than 50 years – (PMR) Russia is one of the world’s top producers of electrical energy. In 2012, Russia’s total electricity generating capacity increased by 2.2% y-o-y, reaching 223.1 GW, ranking fourth globally, just behind the USA… 

Europe pins great hopes on Russian nuclear energy – (Pravda) Nuclear technology may help Russia to get a respectable share of the European market. European Union Commissioner for Energy Guenther Oettinger said that the Union was not going to completely abandon nuclear power, and Deputy Director General of the European Commission for Energy Peter Faross spoke about the interest in the Russian technologies…

Russia lower house eases rules for proposed tight oil tax breaks – (Reuters) Russia's lower house of parliament has stripped compliance measures from proposed tax incentives for "tight" oil production, a parliamentary official said…

Russia lifts veil over oil – (UPI) Russian Prime Minister Dmitry Medvedev signed a measure last week making national oil reserve information readily available, a government ministry said…

Is Gazprom, The Russian Natural Gas Giant, A Serious Contender For LNG Exports? – (International Business Times) Gazprom, Russia's huge state-run energy company, will struggle to compete in the liquid natural gas market, say analysts who responded to last week's announcement by the CEO of Gazprom's plans to increase investment in and production of LNG…

Turkey

Energy & Environment: Turkey & USA Comparison – (On Islam) Inevitably, energy is one of the key issues currently effecting economic development in much of the modern world. The fact that fossil fuels are non-renewable and have detrimental effects on the environment has lately shifted our focus to alternative resources, such as using wind or solar power…

Using Solar Energy Sources To Generate Electricity In Turkey – (Mondaq) Turkey enjoys a perfect geographic location to develop solar power plants and benefiting therefrom. The Mediterranean Sun Belt goes through the country, placing Turkey in one of the most advantageous positions in Europe for the purposes of generating solar power…

Will Shale Gas Eventually Make Turkey Energy Independent?  - (EconoMonitor) The U.S. government’s Energy Information Administration notes in its report on Turkey, “Over the last two years, Turkey has seen the fastest growth in energy demand in the OECD, and unlike a number of other OECD countries in Europe, its economy has avoided the prolonged stagnation that has characterized much of the continent for the past few years…

Lets Go Nuclear! – (Mondaq) Nuclear power has always been a controversial issue. In the last 2 years since the INES 7 event (International Nuclear Event Scale) occured at the Fukushima 1 Nuclear Power Plant on 11 March 2011, the world's nuclear power-producing countries were in hot debate on whether to suspend their nuclear projects, while public opinion shifted steadily and swiftly in favor of renewable energy…

KRG to be illuminated with Turkish power – (Daily News) A Turkish company will meet the electricity needs of the Kurdish region of Iraq, the electricity minister of the regional administration has told Anadolu Agency…

Asunim installs large roof-mounted solar PV system in Turkey – (PV Magazine) Asunim Turkey has just finished the installation of a large roof-mounted solar PV system, with a surface area of 12,000 square meters and an installed capacity of 500 kwp…

EBRD begins 2nd round of energy saving funds – (The Daily News) The European Bank of Reconstruction (EBRD) extends a program in which it offers loans to Turkish SMEs to be used in increasing their energy efficiency with its partnering banks…

Ukraine

Ukraine discovers its own worst enemy on energy: Itself – (EurActiv) With oil majors waving billions of dollars around, President Viktor Yanukovych’s party is eager to tap Ukraine’s shale gas deposits. Political foes are no less eager to make hay of the controversial technology, writes Ivan Lozowy…

Reverse Gas Supply May Stimulate Adequate Pricing of Russian Import - Ukraine's Energy Minister – (AG) The total annual volume of gas that can be delivered through the reverse supplies from Europe to Ukraine can reach 30 billion cubic meters…

Ukraine's energy minister sees nothing illegal in gas supplies from EU – (Kyiv Post) Natural gas supplies to Ukraine from the European Union are a normal process, Ukrainian Energy and Coal Industry Minister Eduard Stavytsky has said…

Ukraine, EU to discuss energy issues in September – (Forum) Kyiv and Brussels intend to hold a meeting of a high-level committee on energy issues soon, Interfax informs. Ukrainian Energy Minister Eduard Stavytsky told Ukrainian journalists about this arrangement after a meeting with European Commissioner for Energy Gunther Oettinger…

Major fracking campaign starts in Ukraine – (UPI) An energy company operating in Ukraine said it started what it believes to be the largest hydraulic fracturing operation in Europe to date…

Visegrad Four Ready to Assist Ukraine's European Integration – (The Wall Street Journal) The Visegrad countries are interested in Ukraine's successful European integration, especially in signing the Association Agreement with the EU in Vilnius…

SOCAR opens new fuel station in Ukraine – (Azernews) Azerbaijan's state energy company SOCAR has commissioned a new gas-filling station under its own brand in Ukraine's Odessa region, SOCAR said on July 9…

Ukraine to solve all legal issue on reverse gas supplies from EU – (Kyiv Post) Mr Eduard Stavytsky energy and coal industry minister of Ukraine after the trilateral meeting with European Commissioner for Energy Gunther Oettinger and State Secretary at the Ministry of the Economy Mr Dusan Petrik in Brussels said that Ukraine, Slovakia and the European Union are in active consultation to determine the best legal principles on the reverse gas supplies to Ukraine…

This program is made possible by the support of the American people through the United States Agency for International Development (USAID). The contents are the responsibility of the United States Energy Association and do not necessarily reflect the views of USAID or the United States Government.