World Bank will not support new coal power plant in Kosovo

11/10/2018 09:03 Coal

news

President of the World Bank Group Jim Yong Kim confirmed that the international organization will not support a coal power plant in Kosovo.

The Kosovo government stated in 2015 that the Ministry of Economic Development reached an agreement with the World Bank and US company Contour Global that would pave the way to a contract for building the plant.

 

In 2016, the World Bank told BIRN that they would only support the project after all relevant environmental, social, and technical analyses were conducted, and after consultations with the public and other shareholders.

 

After the Kosovo government signed a 1.3 billion euro-worth contract with Contour Global, the Kosovo Civil Society Consortium for Sustainable Development, KOSID, said that “the project would undermine Kosovo’s European future,” and that the government should work on developing efficient energy in Kosovo.

 

 

Due to the high cost of its construction, if the plant were to be built, Kosovo citizens would have to pay 50 per cent more for their energy bills, and that there would be a significant impact on the environment due to the burning of lignite as fuel.

 

Prime Minister of Kosovo Ramush Haradinaj said earlier this year that the plant had to be built despite environmental dangers, in order to produce energy locally.

Source: prishtinainsight.com

BP starts producing gas from major field in Egypt

11/02/2019 13:01:00

BP is celebrating its first gas production from the second stage of its West Nile Deltadevelopment offshore Egypt.

<READ MORE

Daily (11.02.2019): German spot power prices plummeted by nearly 84% on Friday due to lower demand and rising wind output

11/02/2019 12:00:00

Oil prices rose on Friday, due to the modest support from the news that specific trade issues might be resolved between U.S. and China by March 1. Brent oil climbed by 0.8% to $62.10 a barrel. At the same time, WTI crude edged 0.2% up at $52.72 a barrel.

READ MORE

Kazakhstan achieves biggest oil extraction in its history

11/02/2019 11:28:00

Kazakhstan achieved the biggest oil production in its history during 2018, with 90 million tons, governmental sources said on February 8. In 2017, crude oil output amounted to 86.2 million tons.

READ MORE