Page 15 - FSUOGM Week 12 2022

FSUOGM NEWS IN BRIEF FSUOGM

LNG with a capacity of 10.8mn tpy. Most dependent on gas supplies from Russian
of the work on the latest project had been gas giant Gazprom, has already said that it Former Albanian president
completed, but the resumption of US will seek to completely diversify away from
sanctions in 2018 meant that the German Russian gas. Bulgaria's sole oil refinery is claims he turned down
Linde was unable to deliver equipment to owned by Russian private oil major Lukoil.
Iran. It provides more than 60% of the fuel used “dizzying” bribe from
As noted by Argus, in 2019 the country in the country.
produced 244bn cubic metres of gas, but Gazprom
with high consumption, only 20 bcm was
exported, which went to Turkey and Iraq. Pakistan, Russia reportedly Former Albanian president and prime
Russian Foreign Minister Sergei Lavrov minister Sali Berisha claimed on March 17
said Moscow had received US written close to agreement on that he had been offered “dizzying” amounts
assurances that sanctions would not apply by Russian gas giant Gazprom to sabotage
to Russia's co-operation with Iran and was Pakistan Stream the Trans Adriatic Pipeline (TAP) project.
in favour of resuming the deal as soon as The TAP pipeline carries gas from
possible. Pakistan and Russia are close to finalising a Azerbaijan, which is initially transported
plan to build the Pakistan Stream pipeline, through the Trans Anatolian Pipeline
media reported this week. However, the (TANAP) to the Turkish border, then via
EU considers Russian oil South Asian country will have to proceed TAP across Greece and Albania and under
with caution, given the severity of current
the Adriatic Sea to Italy. The pipeline forms
embargo for fifth sanctions sanctions against Russia as its war on part of the Southern Gas Corridor (SGC),
Ukraine continues.
intended to give Europe an alternative to
package Revenues Shaukat Tarin told various media Russian gas.
Pakistani Minister for Finance and
Trans Adriatic Pipeline AG announced
The European Union will consider placing outlets in recent days that Islamabad and on March 17 that a total of 10bn cubic
an oil embargo on Russia as part of a Moscow had broadly agreed to move metres of natural gas from Azerbaijan has
fifth sanctions package in response to forward with Pakistan Stream, which is entered Europe where TAP connects to
the invasion of Ukraine, which is to be also known as the North-South project. TANAP. Around 8.5 bcm of the total was
discussed with the US President Joe Biden The pipeline would actually run in the delivered to Italy.
at a series of summits this week, Reuters opposite direction from what the name Commenting on the news to journalists
reported on March 21, citing unnamed suggests, transporting gas that arrives in outside the Albanian parliament, Berisha
senior EU diplomats. Karachi on the southern coast as LNG to said that the negotiations took place
As reported by bne IntelliNews, the US power plants in Punjab Province in the when he was in government, and claimed
has already banned imports of Russian country’s north-east. Gazprom had made a direct attempt to
oil, while the UK has said it will phase out “We need a gas pipeline to transport bribe him.
imports of Russian oil by 2022. While calls LNG from south to north. That’ll become “The greatest efforts were made to
for an embargo on Russian oil and gas have almost essential for us in the next two sabotage [the TAP project] so that Russia
gained traction in the EU, Germany is or three years,” Tarin told the Financial could occupy the southern corridor,”
resisting the measure. Times. “Either there’s an alternative for us Berisha said, according to a transcript of his
Russian oil made up about 3% of all or we’ll go ahead with this deal … This is comments published by Top Channel TV.
US oil imports in 2021 and accounted the best alternative as of now, and this was “Only for TAP, Sali Berisha was offered
for about 8% if various oil products are obviously done before Ukraine.” the largest sums, but I rejected them
considered. At the same time, Russia is The pipeline would be built by a because I was convinced that Russian gas
the largest exporter of crude oil to the EU, collection of Russian companies and is was not right for Europe. The offer came
accounting for 27% of imports in 2019. expected to cost more than $2bn – and directly from Gazprom,” he added.
The unnamed diplomats told Reuters potentially $3bn by some estimates. In May 2021, the US State Department
that Baltic countries including Lithuania Media have cited government officials as named Berisha as persona non grata due to
were pushing for an embargo as the next attributing the project’s escalating costs to his involvement in “significant corruption”.
logical step, while Germany continued to the rising price of steel and other products Close members of his family were also
warn against acting too quickly because of in the international market. banned from travelling to the US.
already high energy prices in Europe. Pakistani Prime Minister Imran Khan “In his official capacity as prime minister
Sources told Reuters that a Russian has said he wants to remain neutral when of Albania in particular, Berisha was
chemical weapons attack in Ukraine, or a it comes to the war in Ukraine, and visited involved in corrupt acts, such as
heavy bombardment of the capital Kyiv, Russia on the same day the invasion started misappropriation of public funds and
could be a trigger for an energy embargo. in February. Tarin said he hoped Russian interfering with public processes, including
Previously, Russia threatened to retaliate officials would soon visit Pakistan to using his power for his own benefit and
by shutting down the Nord Stream 1 finalise the deal for the pipeline following to enrich his political allies and his family
pipeline to Europe should its hydrocarbon Khan’s visit to Moscow. members at the expense of the Albanian
supplies be targeted with sanctions. The However, international pressure to public’s confidence in their government
EU relies on Russia for 40% of its gas isolate Moscow economically means that institutions and public officials,” the
supplies, with Germany being among the Pakistan risks straining its relationship statement from the US State Department
most gas-dependent. with Western countries. said.
Bulgaria, which is almost completely While the statement did not specify

Week 12 23•March•2022 www. NEWSBASE .com P15