Page 17 - EurOil Week 35 2022

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Estonian ministry says it is up (MEKH) said on August 30. business partner. Allegedly, the gas was re-
sold at a price of €28 per MWh, N1 reported.
Hungary is obliged to store 3.65 bcm of gas
to companies whether to use by the end of October, based on the European 2020 and August 27, 2022, when its members
The group resold the gas between June
Union’s gas storage regulation.
Russian oil import exemption Gas reserves currently equal 37.17% of the were arrested.
After the Estonian Ministry of Foreign Affairs annual average consumption of the last five
published a list of companies that have years, enough to cover 98% of households’ Turkey reports higher oil but
applied for a Russian oil import exemption, annual needs, MEKH said.
Undersecretary Erki Kodar explained on Hungary is ranked fourth in the EU in lower gas imports in June
September 1 that whether a company utilises terms of share of reserves to consumption.
the exemption or not will remain up to them, Gas reserves are at 61.3% of the total Turkey’s oil and oil product imports moved
ERR.ee, an Estonian news website, reported capacity of 6.33 bcm. up while natural gas imports declined in
on September 1. Part of the gas reserves are set aside for June on a year on year basis, according to the
The exemption relates to firms that had Hungary’s southern neighbour, local media latest monthly report of the country’s energy
existing contracts with Russian businesses or write. watchdog EPDK.
intentions of importing oil. According to an energy agreement Oil and oil product imports moved
As reported by bne IntelliNews, Estonia’s between Budapest and Belgrade signed in up 4.9% to 4.19mn tonnes, with crude oil
Foreign Ministry on August 31 published a list June, Serbia is to store around 500 mcm of accounting for 3.17mn tonnes, up by 11%.
of companies that had applied for exemptions gas in the county, which will be released from The majority of Turkey’s oil and oil product
that would allow them to continue importing October 1. needs were met by Iraq with 1.42mn tonnes.
oil products from Russia during a transition Russia and Kazakhstan exported 1.34mn
period. The EU imposed sanctions on Russian tonnes and 319,847 tonnes, respectively.
oil imports this June. Croatia’s PM criticises Turkey lately released data that
Currently at issue are two exemptions — controversially showed Russia’s oil exports to
one for crude oils derived from petroleum management of INA for failing to the Turkish market doubling, at the same time
and bituminous minerals, which may be as Europe is trying to squeeze Russian oil sales
imported through December 5, and another prevent embezzlement in response to Moscow’s invasion of Ukraine.
for other petroleum oils and oils derived from Also in June, Turkey’s oil refinery product
bituminous minerals as well as oils which are Croatia’s Prime Minister Andrej Plenkovic exports increased by 14.7% y/y to 1.16mn
the basic constituents of these preparations criticised the management of oil and gas tonnes, while output rose by 5.3% y/y to
and waste oils, which may be imported company INA on August 31 for failing to 3.34mn tonnes, EPDK said. Total domestic oil
through February 5. That is — in cases where prevent embezzlement worth hundreds of product sales expanded 15.2% y/y to 2.32mn
contracts were concluded prior to June 4 this millions that was discovered by the anti- tonnes.
year. corruption body, USKOK, earlier this week. The watchdog said that, year on year,
Businesses were informed in June that they USKOK has arrested five people suspected June gas imports were down by 5.6% to
must report existing contracts to the ministry. of reselling natural gas that belonged to around 3.84bn cubic metres (bcm), from
The list published August 30 included two INA, causing damages worth HRK800mn approximately 4.06 bcm in June 2021.
companies connected to Estonian energy (€113mn). The country imported 3.27 bcm of natural
company Alexela — Nord Terminals AS and “We are very unhappy that the gas via pipelines. Also purchased were
Alexela Bunkering. Alexela said that these management of INA has not seen what was 561.8mn cubic metres (mcm) of liquefied
companies are both purely transit companies happening. This case shows that the model of natural gas (LNG). These shipments marked
that don’t have a single contractual Russian management of INA is bad,” Plenkovic said as a decrease of 13.5% in pipeline imports and
client, nor has either company declared a quoted by N1. increase of 102% in LNG shipments.
single ton of goods for domestic consumption. He added that the government will hold Russia supplied the majority of Turkey’s
The list of companies has been submitted the whole management of INA accountable, gas imports, at 1.69 bcm. Iran and Azerbaijan
to the European Commission; further including the Croatian and the Hungarian followed with 855 mcm and 729.4 mcm,
companies will not be added to the list. members. respectively.
According to the undersecretary, the Currently, Hungary’s MOL owns 49% of But gas imports from Russia and Iran
businesses’ contract volumes in question aren’t INA and the Croatian state owns 45%.9 fell by 29.5% and 1.4%, respectively, while
very big. The five arrested by USKOK include a imports from Azerbaijan expanded by 39.6%,
manager of INA. They are believed to have EPDK said.
received INA’s natural gas at a price much Turkish gas consumption in June dropped
Hungary’s gas reserves lower than the market price, subsequently by 21.2% to approximately 3.05 bcm.
reselling it abroad at a significantly higher
Household consumption grew by 3.7% to
above level expected by EU price, making huge profits. 400.1 mcm. Gas usage in power plants shrank
by 43.9% to 948.4 mcm.
According to USKOK’s investigation, the
Reserves in five Hungarian gas storage gas was acquired from INA at a subsidised The natural gas volume in storage, said
facilities have reached 3.88 bcm by August 25, price of €19.5 per MWh by a regional gas EPDK, in June move up by 4.5% to around
some 227 mcm more than would be necessary distributor in Eastern Slavonia. 2.72 bcm.
by November 1 based on the European It was resold via a company named OMS
Union’s gas storage regulations, the Hungarian that is controlled by Josip Surjak, head of
Energy and Public Utilities Regulatory Office Croatia’s national bar association, and his

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