Thursday, October 18, 2018

Poland News

Poland Needs Offshore Wind and Nuclear Power, Says Official

© vivoo / Adobe Stock

Poland needs to invest in wind farms in the Baltic Sea and in nuclear power, the government official responsible for power and gas infrastructure Piotr Naimski said on Tuesday.Poland produces most of its electricity from coal and has started to look at cleaner and cheaper technologies to comply with…

Energa Considers Offshore Wind Farm Projects

(Photo: Energa Group)

Poland's state-run utility Energa is interested in developing offshore wind farm projects, the head of Energa's generation unit Piotr Meler told a press conference on Thursday.Speaking at the same event, Energa's deputy head Jacek Koscielniak, said Energa was not running any analysis regarding a potential merger with another energy group.(Reporting by Anna Koper; Writ

Equinor Explores Floating Wind Turbines to Power N.Sea Oilfields

(Image: Equinor)

Norway's Equinor said on Tuesday it is considering whether to build a pioneering offshore wind farm with floating turbines to supply electricity to two North Sea oilfields as part of a strategy to curb greenhouse gas emissions.The project at the Gullfaks and Snorre oilfields would cost around 5 billion…

Nord Stream 2 Dredging Starting Off German Coast

An ROV operates from the vessel Trio to explore the seabed close to Lubmin, Germany. (File photo: © Nord Stream 2 / Axel Schmidt)

A consortium of western companies and Russia's Gazprom that is due to build the controversial subsea Nord Stream 2 gas pipeline to Germany said on Tuesday it was starting preparatory work in the Greifswald bay off Germany's Baltic coast."Five dredgers are now working on the trench for the two pipeline strings…

Equinor Bets on Offshore Wind

Photo: Equinor

Norway's Equinor is focusing its green efforts on offshore wind, a goal it is already on its way to achieve, but some investors are concerned about the impact this shift will have on the company's bottom line.European oil and gas companies are diversifying their portfolio to include less-emitting sources of energy as a result of the Paris 2015 agreement…

BP Concerned Over Planned Merger of Poland's Two Biggest Refineries

Photo courtesy of PKN Orlen

The planned merger of Poland's two largest refiners PKN Orlen and Grupa Lotos could restrict competition in the east European country, BP said in a statement on Wednesday.The London-based oil and gas company has not filed any official complaint with Polish or European Union authories but will consider its options in the future, a company spokeswoman said."If this merg

Poland and Germany Disagree Over Planned Russian Gas Pipeline

Poland, unlike Germany, strongly opposes Russia's plan to build a new gas pipeline across the Baltic Sea, and shares U.S. opinion that the project would help strengthen Moscow's market position, Polish foreign minister Jacek Czaputowicz said.Berlin has given political support to the building of a new…

Repsol to Buy LNG from Venture Global

Image: Venture Global

Venture Global LNG announced that it has entered into a 20-year, binding Sales and Purchase Agreement (SPA) with Repsol for the supply of one million tonnes per annum (MTPA) of liquefied natural gas from the Venture Global Calcasieu Pass LNG export facility, currently under development in Cameron Parish…

Europe Gas Trade Volume on Track for Record in 2018

© Ben Schonewille / Adobe Stock

European gas trading volumes in 2018 may beat the record 51,000 terawatt hours (TWh) recorded in 2016 unless unseasonally warm weather prevails for the rest of this year, Prospex said in a report on Friday.The British research company said slower trading in 2017 was followed by an upturn in the first…

Poland's PGNiG Finalizes LNG Deal with U.S.' Venture Global

Photo: Venture Global LNG

Poland's dominant gas firm PGNiG has finalised the terms of a deal to buy liquefied natural gas (LNG) from U.S. company Venture Global LNG, part of a move to cut reliance on Russian supply, the company said on Wednesday.PGNiG struck an agreement with Venture Global in June to acquire 2 million tonnes of LNG a year for 20 years…

Merkel Sees No Threat in New Gas Pipe to Russia, Poland Disagrees

Photo: Nord Stream 2

The planned Nord Stream 2 gas pipeline connecting Germany and Russia poses no threat to Europe's energy security, Chancellor Angela Merkel said on Friday, publicly disagreeing with her Polish counterpart. Poland, Ukraine and Baltic states fear the pipeline to be laid under the Baltic Sea would increase…

PKN Will Uphold Dividend Policy

(Photo: PKN Orlen)

Poland's biggest oil refiner, PKN Orlen, will stick to its dividend policy despite plans to take over smaller rival Lotos, PKN said on Tuesday. "PKN Orlen's dividend policy will be continued. In the long-term, the decision to consolidate will increase the company's shareholder value," PKN said. PKN's…

Fortum Eyes More M&A With Unspent Uniper Cash

Finland's Fortum, which failed last month in its bid to win majority control of Germany's Uniper, is now considering other acquisitions, Chief Executive Pekka Lundmark said on Thursday. After selling its distribution networks in 2015, state-controlled Fortum was left with about 10 billion euros in cash, much of which the company has said it could use for acquisitions.

Statoil Enters Offshore Poland Wind Markets

Irene Rummelhoff, executive vice president of New Energy Solutions in Statoil. (Photo Ole Jørgen Bratland Statoil)

Statoil has signed an agreement with Polenergia to acquire a 50 % interest in the two early phase offshore wind development projects in Poland, Bałtyk Środkowy III (BSIII) and Bałtyk Środkowy II (BSII). The two projects have a planned capacity of 1200 MW with the potential to power more than 2 million Polish households.

Poland Estimates Investment Up to $22 bln for Nuclear Power Plant

Poland's planned nuclear power plant may cost 70-75 billion zloty ($20.51-21.97 billion), the country's energy minister Krzysztof Tchorzewski said on Thursday. Tchorzewski was asked by reporters why it takes so long for the government to decide whether to give a green light for the project : "Why does it take so long?

Six Dead After Blast at Czech Refinery

An explosion killed six people at a refinery in the Czech Republic on Thursday, rescue officials said. Two other people were taken to hospital with serious injuries, a fire department spokeswoman told Czech Television. The blast occurred at Unipetrol's plant in Kralupy nad Vltavou about 30 km (19 miles) north of Prague.

Nord Stream 2 Pipeline Must Balance Interests - German Minister

File Image (CREDIT: AdobeStock)

Germany's aim with respect to the planned new Nord Stream 2 gas pipeline from Russia is to enable private infrastructure projects while protecting the justified interests of Ukraine, Economy Minister Peter Altmaier said. He was speaking at a joint news conference with European Energy Commissioner Maros Sefcovic…

Allianz Limits Coal Insurance Policies

File Image (CREDIT: AdobeStock / © Snap Happy )

Germany's Allianz will immediately stop insuring single coal-fired power plants and coal mines, the company said on Friday, following criticism from environmental groups. But Allianz said it would continue to insure companies generating power through multiple sources, including coal and other fossil fuels. It wants to phase out any coal insurance by 2040, it said.

Poland Cuts Dependence on Russian Oil but at a Cost

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Poland's imports of Russian oil last year fell to their lowest level since 2005, a central bank report published on Tuesday showed, though Warsaw's bid to diversify its energy imports also meant paying higher prices.Russian oil accounted for 76 percent of all oil purchases, down from 96 percent in 2012…

Russia's Oil Exports to Europe Decline as Quality Worsens

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Russia has exported less crude oil to Europe this year as the quality of the fuel on offer deteriorated and tense diplomatic relations prompted it to redirect more volumes to China.Russia increased oil pipeline exports to China by almost 50 percent in January-April from a year earlier to 12.4 million tonnes…