The European Commission has given up the inclusion of a ban on LNG imports on Russia in further packages of sanctions. According to unofficial reports, any countries powerfully opposed the early introduction of the embargo, fearing price increases and possible shortages, with unclear alternatives to supplies from Russia.
In early May, the Commission intends to present a "road map" to end dependence on energy sources from Russia, but this time it is expected to last for 2 more years, by 2027. Details are not yet known.
In the latest monitoring study ACER stated, although not explicitly, that the deficiency of gas from Russia could make the situation of the Union much more complicated, especially with respect to the problem of filling up warehouses for the next winter. EU countries must organise 60 billion cubic metres of gas by October to fill heavy drained in winter. And that's great, over current consumption. According to ACER, halting transit of gas through Ukraine at the beginning of 2024 posed a serious structural challenge. The only way to supply gas by pipelines was by Turkstream, which is utilized by Hungarians and Slovakia.
However, Russian LNG flows to Western Europe through a wide stream. In March, this import amounted to nearly 1.8 billion metres, which represented over 13% of the full LNG imported this month.
Meanwhile, the Czech Republic freed itself from Russian oil. transportation from the east was completed with the launch of increased bandwidth on the TAL pipeline from Trieste. erstwhile combined with the IKL pipeline from Germany, the Czech Republic obtains adequate natural material by this route. Thus, the Russian oil collection ended the oil refinery owned by Orlen in Litvinów. The second Orlenian installation in the Czech Republic - Kralupa has already switched to non-Russian oil.
The Chinese turned on American gas
From 6 February to Chinese LNG terminals, not a single methane tanker with American LNG wrapped. This is the consequence of a customs war launched by Donald Trump. On February 10, China, in consequence to US duties introduced a 15% liquefied gas tariff from the US, but as part of the further exchange of blows they raised this work to 49%, making imports from America completely unprofitable.
Thus Trump directed China's attention to Russia and its LNG. And according to any analysts, it is improbable that Chinese importers would have contracted anything else in American terminals. This in turn makes their further expansion questionable.
Bogdanka intends to feed more than 8 million tonnes of coal per year
The majority owned by Enea have a fresh strategy. It assumes that by 2030 it will produce an average of 8.2 million tonnes of coal per year, compared to 7.4 billion tonnes in 2024. After 2030, production of electricity from coal is expected to fall to 6.6 million tonnes per year. The mine besides plans to importantly increase sales to customers another than Enea, the share of these sales is expected to emergence from 15% last year to almost half after 2030.
At the same time, Bogdanka looks at Ukraine, hoping that due to its favourable location it gives it a competitive advantage. The mine estimates possible request in Ukraine for respective million tonnes per year.
Bogdanka assumes that EBITDA for a tonne of net production from 2025 to 2030 will amount to about PLN 97 per tonne, and from 2031 to 2035 approx. PLN 104 per tonne.
Prime Minister on State Energy
State-controlled energy companies are not necessarily expected to deal with maximizing their profits, the first task of the state manager is to guarantee safety and as inexpensive energy as possible - Prime Minister Donald Tusk thundered last week. The head of the government revealed that he had called on the company's energy presidents to talk, although, at the same time, he admitted it was not easy due to the fact that they came out at its time of "dilems". 1 of them seems to be the Prime Minister's further words that "if it were only a maximization of the profits of the state's treasury that made sense, then why the state in specified a company".
The managers who had the chance to answer questions about the gathering with the Prime Minister evidently acknowledged him right.
PGE president Dariusz Marzec confirmed that "the Prime Minister said that we cannot be guided solely by profit". And he assured that PGE had the work for energy safety in its statutes, that is besides for energy availability and the fight against energy exclusion. "These interests simply request to be reconciled" - he said, adding that the liable company with the dominant participation of the state in its offers should take account of marketplace trends alternatively than the position to lift prices.
This was a presentation of the point of view of an crucial shareholder, after this conversation we keep the strategy and the dividend policy - stated president of Tauron Grzegorz Lot. And he added that the possible of the State Treasury as a shareholder is that companies have a large influence on the full economy, and so they gotta do business, but at the same time take care of the influence on their surroundings and neighbourhood.
Nothing fresh at all. I wonder how non-state shareholders feel about it, due to the fact that the basic dilemma remains the same: how many countries in energy, how and where?
