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According to data from the Petroleum The third #GaZwithme protest, the largest so as windfall taxes on the entire energy supply
Industry Foundation of Turkey (PETDER), far, demands the government to give up talks chain, as the energy crisis continues.
gasoline sales in Turkey declined by 3% to with Gazprom, accusing it of national treason. “We are very much thinking about taxing
3mn cubic metres (m3) in 2020, while diesel Earlier in August, Hristov said the talks the entire chain: production, intermediaries,
sales were flat at 30mn m3 and autogas with Gazprom are inevitable, after the suppliers,” Popescu said, as reported by
(automotive LPG) sales were down 9% y/y to government has decided to give up buying Reuters.
3mn tonnes. six tankers of US LNG agreed by the previous “Taxation must be as fair as possible ... we
In 2021, gasoline sales were up 31% y/y to government of Kiril Petkov. Donev’s cabinet tax everybody when profits are very high,” he
4mn m3 (3mn tonnes) while diesel sales were has claimed it was unable to secure slots added.
up 11% y/y to 32mn m3 and autogas was up for unloading the tankers but experts have Major Romania energy companies
7% y/y to 3.1mn m3. opposed that Greece had been offering such including natural gas and electricity producer
slots. Romgaz and nuclear power company
Nuclearelectrica have reported sharp hikes
Bulgaria can lose bns in Klaipedos Nafta lifts H1 revenue in their profits for the first half of 2022,
despite windfall taxes levied by the Romanian
Gazprom arbitragage, ministers 14% to €36mn government on energy producers in order to
finance the ‘cap and subsidy’ scheme. .
warn Lithuania’s state-controlled oil product

Bulgaria can lose billions of dollars in and liquefied natural gas (LNG) terminals Estonian minister shuns making
arbitration case against Russian Gazprom, operator Klaipedos Nafta said on August 25
caretaker Energy Minister Rossen Hristov said that its first-half revenue rose by 13.9% year- fiscally marked diesel pledge
on August 25. on-year to €36mn, BNS, a Baltic newswire,
Gazprom stopped deliveries to Bulgaria at reported on August 25. Estonian business associations want an
the end of April, after the country has refused Klaipedos Nafta’s consolidated net loss amendment that would allow the use of
to pay in roubles and despite having a contract doubled to €13.8mn. Its adjusted net profit fiscally marked diesel in place of gas in
by the end of 2022. came in at €3.1mn, versus an adjusted net loss manufacturing and heating. But minister
Hristov’s statement comes amid decision of €0.2mn in the same period last year, the of Economic Affairs and Communications
of the government to start negotiations with company said in a stock exchange release. Riina Sikkut (SDE) said that the potential
the Russian company for renewed supplies Klaipedos Nafta said its net profit “was effects are being analysed and weighed
and mass protests against that decision. It was significantly affected by unrealised currency against alternatives, ERR.ee, an Estonian
backed also by his colleague, the caretaker exchange losses and by the reduction of the news website, reported on August 24.
Defence Minister Dimitar Stoyanov. LNG security supplement by €26.8mn per Entrepreneurs wrote in a letter to the
The energy minister said that the contract annum as of January 1, 2020”. government that the price of natural gas has
with Gazprom includes a “take or pay” option, Consolidated Ebitda grew by 19% in the grown six times in the past year, whereas
under which the country is obliged to buy first half year to €16.9mn y/y. no one knows what the price will be this
at least 80% of the annual amount of gas. winter or whether there will be enough gas
Hristov said that the country has used 1bn available.
cubic metres (BCM) of natural gas since the Minister says measures to “In such a situation, businesses are
beginning of the year and could be forced to looking for ways to replace gas with
pay for another 1.4bcm. tackle Romanian energy alternative sources of energy. We believe
“Therefore, if we do not use the remaining Estonia should take measures to motivate
quantity it is possible that we go to arbitration crisis will cost €3.2bn entrepreneurs to replace gas with
with the potential possibility to lose billions,” alternatives, if only temporarily,” they wrote.
he said as quoted in a statement. Romanian measures to protect households One proposed solution is to amend
This was pointed out as one more reason and small businesses from rising energy prices the Fiscal Marking of Liquid Fuel Act to
for the caretaker government of Gulub Donev will cost around RON16bn (€3.2bn), Energy temporarily allow fiscally marked fuel to
to seek resumption of the deliveries. Minister Virgil Popescu told journalists on be used for heating. This would lower the
Hristov also said the price of Gazprom’s gas August 24, Reuters reported. excise duty on diesel used in heating from
was close to that of the gas sold by Azerbaijan The scheme was launched in response to €0.372 per litre to €0,021 per litre.
and is by 50% lower compared to that of the soaring gas and electricity prices as the war The proposal would also allow the use of
liquified natural gas (LNG) the country could in neighbouring Ukraine hits global energy fiscally marked diesel in stationary engines
have acquired from the US. Experts claim that markets. – this would allow using diesel to replace
this was not possible. Under the ‘cap and subsidy’ scheme, gas gas in production processes. The exception
However, experts say that it was Gazprom and electricity bills for households and smaller could remain in effect until May 1, 2024, or
that stopped fulfilling its obligations under businesses have been capped, while the for two heating seasons.
the contract with Bulgaria and the country government gives compensation to suppliers. The address has been signed by the
has reasons to file arbitration case against the According to Popescu, the current estimate Estonian Chamber of Commerce and
Russian company and win the case. Moreover, is considerably lower than the RON40bn Industry, the Association of Construction
if Bulgaria starts talks with Gazprom for originally projected by market regulator Material Producers, the Chamber of
renewal of deliveries, the country would lose ANRE. Agriculture and Commerce, the Food
its possibility to win an arbitration case. The government, a coalition between the Industry Association and the Estonian Oil
At the same time, thousands protested centre-left Social Democratic Party (PSD) and Association.
against the government’s plan to turn to the centre-right National Liberal Party (PNL),
Moscow for gas in the evening of August 24. is now considering additional measures such

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