EU approves Polish public subventions for the construction of underground gas storages

30/06/2010 09:18 Natural Gas


In 2009, Poland asked the permission of the EU to offer financial support to a company planning to construct 4 natural gas underground storages in Poland.

Poland’s funding for this project is estimated at 390 million euros, or 1,539 millions PLN. The four storages will be built by the public company Polskie Gornictwo, the main gas distributor on the Polish market. The project will be finalized in 2015. The new storages will increase Polish storage capacity by 1 billion cubic meters, arriving at 2.6 billion, and will improve energetic security of the country. This way, Poland is coming closer to the European storage capacity (which is 14 % of total yearly demand). The storages will be available to all the competitors on the Polish market, helping them to better fulfill their obligations by making gas reserves.

Exxon Mobil considers sale of Malaysian offshore assets for up to $3 bln

09/10/2019 14:54:00

U.S. energy giant Exxon Mobil Corp is considering a sale of its Malaysian upstream offshore assets for up to $3 billion, Bloomberg reported on Wednesday.


Zimbabwe hikes average electricity tariff by 320% - energy regulator

09/10/2019 13:25:00

Zimbabwe has increased the average electricity tariff by 320% to let the state power utility ramp up production and improve supplies at a time of daily rolling power cuts, the national energy regulator said on Wednesday.


Daily (09.10.2019): European carbon prices reached EUR 23 a tonne on Tuesday, on worries over Brexit negotiations

09/10/2019 10:50:00

Crude oil prices traded lower on Tuesday, after Donald Trump reported that a quick trade deal will unlikely happen soon. Meanwhile, oil prices were supported by protests in OPEC members Iraq and Ecuador, which threatened to disrupt their oil output. Hence, WTI futures fell by 0.2% to $52.63 a barrel, while Brent crude edged 0.2% down at $58.24 a barrel.