Turkey to scrap "take or pay" principle for Azeri gas in 2015

22/10/2014 00:32


Turkey decided to give up the “take or pay” clause for Azerbaijani gas delivery in the next 14 months, declared the Turkish Minister of Energy and Natural Resources Taner Yildiz.

Additionally, Turkey is intentioned to quit this clause for gas from Iran in the next two months. Turkey has already abandoned this payment principle from Russia last year. According to minister, it is not fair to pay for the gas you don’t buy and the advances of these payments are supported by citizens. Ankara pays currently $335 for 1,000 cubic meters for Azerbbaijani gas via the Baku-Tbilisi-Erzurum pipeline, $425 for Russian gas and $490 for Iranian gas.

EIB to provide 110 mln euro loan to BEH for Greece-Bulgaria gas link construction

10/10/2019 12:56:00

The European Investment Bank (EIB) said on Thursday that it will provide a 110 million euro ($121 million) loan to state-owned Bulgarian Energy Holding to fund part of the Gas Interconnector Greece-Bulgaria (ICGB) project, which will also help establish a link with the Trans Adriatic Gas Pipeline (TAP).


Daily (10.10.2019): NBP spot tumbled by 19% on Wednesday due to rising imports from the North Sea and higher wind generation

10/10/2019 11:34:00

Crude oil prices were rather constant on Wednesday. Brent crude traded 0.1% up at $58.32 a barrel, as recent Turkish attacks against northeast Syria could affect the economy of the oil-producing Kurdistan region. Meanwhile, a more-than-expected rise in weekly crude stocks put pressure on the WTI futures, which slipped by 0.1% to $52.59 a barrel.


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.