Turkey’s total offshore wind power potential stands at 75 gigawatts (GW), Offshore Wind Energy Association (DÜRED) Chairperson Murat Durak said Monday, noting that they have reached a certain stage in works at some ports in the Marmara and Aegean regions and that they can now carry out offshore wind power …
Read More »Volkswagen Eyes 15% Share in Chinese Electric Car Market
German carmaker Volkswagen plans to increase its share in China’s market for cars with alternative engines, like those powered by electricity, to about 15%, equivalent to the share it currently enjoys in the sales of standard automobiles, the head of its branch in the Asian country said. “Volkswagen has a …
Read More »EU Continues to Rely on Russian Gas as Competition Gains Pace
Driven by political motives, the liquefied natural gas (LNG) competition will continue in the European Union. Russia, as one of the major players, will have to battle for its share of the gas market in Europe against the influx of the U.S.’ LNG and tougher competition in general, according to …
Read More »US Warns Germany over Russia’s Nord Stream 2 Gas Pipeline
The United States warned Germany Monday that it is not willing to compromise on the dispute over the Nord Stream 2 gas pipeline project, which will carry Russian gas to Europe, German media reported. Washington’s new administration is “determined to use all available levers to prevent the completion of Nord …
Read More »Turkish Energy Minister: “A Natural Gas Futures Market will be Opened this Year”
According to the Turkish Daily Sabah, Fatih Donmez was speaking on Turkey’s efforts to ensure energy supply security and strengthen its place in energy markets in order to provide itself with better bargaining opportunities, at the 7th Southern Gas Corridor Advisory Council meeting. The launching of the Natural Gas Futures …
Read More »Venezuela Hopes New Path with Biden-Era US Revives Oil Sector
Venezuelan President Nicolas Maduro on Saturday expressed willingness to “turn the page” with the U.S., following the presidency change, especially to revive the sanctions-hit oil industry. Maduro’s desire is that the two nations can reach a “new path” after years of tension between the Maduro government and the Trump administration. …
Read More »US Plans to Sanction Russian Vessel Involved in Nord Stream 2
The United States has informed European allies about plans to sanction Russian vessel Fortuna, which is involved in the construction of the Nord Stream 2 gas pipeline from Russia to Germany, German business daily Handelsblatt reported on Monday. The U.S. administration told government officials in Berlin and other European capitals …
Read More »US Oil Inventories Down by 4.7M Barrels
Crude inventories in the United States fell by 4.78 million barrels in the week ending Dec. 25, private data from the American Petroleum Institute (API) reportedly showed Tuesday. Meanwhile, oil reserves in Cushing, Oklahoma, rose by 131,000 barrels in the same seven-day period. Gasoline stockpiles in the U.S. declined by …
Read More »Gazprom, Turkish Partners Discuss Using TurkStream to Supply Gas to more of Europe
Russian energy giant Gazprom is currently in talks with its Turkish partners to carry natural gas deliveries via the TurkStream pipeline to more European markets. “We are now in talks on the issue with our Turkish colleagues,” said Elena Burmistrova, chief executive of the Russian holding’s export arm, Gazprom Export, …
Read More »Hungary to Join TurkStream Gas Pipeline via Serbia
A Hungarian firm announced Saturday it will join the TurkStream gas pipeline, running from Russia to Turkey. MOL said it will join the gas pipeline through Serbia. The regulator approved a 10-year development plan that includes the construction of a new Serbian-Hungarian gas inter-connector, with a capacity of 6 billion …
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