There is a looming state of emergency in Ukraine’s energy sector, as anthracite stocks in the warehouses of Ukrainian thermal power plants are enough for 40 days of work, according to the operator of the Ukrainian power grids, state-run national energy company Ukrenergo. The introduction of the state of emergency in the energy sector foresees that the power grids will operate with minimum workload of thermal power plants, which consume anthracite coal, being a deficit type of coal after the war in Donbass, a major supplier, broke out.
Italian energy company Eni plans to increase its energy exploration investments in Egypt to $3.5 billion in 2017, the company’s CEO Claudio Descalzi said on Thursday after a meeting with Egyptian President Abdel-Fattah El-Sisi. Descalzi briefed the Egyptian President on the latest developments regarding the massive Zohr gas field recently discovered off the Mediterranean coast, saying production is expected to start before the end of the year, a presidency statement read. Zohr, discovered by Eni in August 2015, is the largest gas field in the Mediterranean with an estimated 850 billion cubic metres of gas.
The Chairman of the Libyan National Oil Corporation (NOC), Mustafa Sanalllah, said Libya won’t export oil to Egypt in the forthcoming period of time. In a press statement on the margins of his participation as the head of Libya’s delegation in the OAPEC meeting in Cairo, Egypt, Sanallah said all of the news stories told about Libya’s efforts to export oil to Egypt are incorrect and mere speculations, pointing out that there is no official agreement made by the NOC in that regard.Several eastern political figures, including Khalifa Haftar’s legal advisor, House of Representatives members and Al-Thanni government officials, stated earlier this year that Libya would export oil to Cairo for free so it can help Egypt to recover from the halt of Saudi oil supplies.
Azerbaijan has never considered the Southern Gas Corridor project as a kind of alternative or kind of competitor to any other gas projects being implemented in the region, said Azerbaijan’s President Ilham Aliyev. He made the remarks on Nov. 17 during a meeting with a group of participants of the 5th News Agencies World Congress. “Our project is only aimed at the target, which I identified – to produce, to supply, to satisfy the needs of consumers, to make happy transit countries, and also to earn money for the country,” noted President Aliyev. “So implementation of the project is on schedule. There were certain delays in Europe regarding some ecological concerns. But, as far as I know, they are being resolved.”
Trade turnover between Azerbaijan and China increased by 56 percent in the first nine months of 2016 as compared to the same period of 2015, said Azerbaijani Economy Minister Shahin Mustafayev. He made the remarks during a meeting with Chinese businessmen in Baku, said Azerbaijan’s Economy Ministry in a message on Nov. 11. Azerbaijan is interested in further development of relations with China, noted the Minister. He added that there is a big potential between the two countries in development of relations in the spheres of energy, transportation, transit freight traffic and investment.
Azerbaijan’s state and private companies are investing capital abroad. SOCAR, SOFAZ and other private companies invested large amount of capital in our region, including the region where Croatia is located, Azerbaijani president Ilham Aliyev said at the Azerbaijan-Croatia business forum. He also spoke about the energy policy: “Azerbaijan and Croatia signed a Memorandum of Understanding. The expansion of the Southern Gas Corridor, construction of pipeline in Adriatic Sea will allow us to enter Croatian and Balkan markets.