Page 12 - FSUOGM Week 44 2022

FSUOGM NEWS IN BRIEF FSUOGM

Energoatom claims Russia territory. However, the IAEA conducted an would present an updated strategy following
The company said in August that it
inspection at Ukrainian nuclear facilities,
is attempting to connect upon Kyiv’s request, and concluded that no the merger with PGNiG at the turn of the
year.
such dirty bomb is being prepared..
Zaporizhzhia NPP to occupied PLN59.96 on the Warsaw Stock Exchange
PKN Orlen’s share price rose 3.3% to
territories UK bought oil worth GBP250mn on November 3.

Energoatom, Ukraine’s state-owned nuclear from Azerbaijan in July 2021-
operator, warned that Russian troops will India’s MEIL receives LOA to
soon try to connect the Zaporizhzhia June 2022
nuclear power plant (ZNPP) to the occupied build Mongolia’s first oil refinery
territories, Ukraine Business News reported The trade turnover between Azerbaijan and
on November 4. the UK increased by 4.3% from July 2021 India’s Megha Engineering & Infrastructures
The ZNPP went into full blackout to June 2022, to about GBP1.1bn, ($1.23bn) Limited (MEIL) has received the letter
mode after Russian shelling on November according to The British Department of award (LOA) for the Mongol Refinery
2 damaged the last two high-voltage of International Trade. The volume of Project, which entails building Mongolia's
communication lines, forcing the plant to British exports to Azerbaijan amounted to first oil refinery to help lessen the country’s
run on 20 diesel engines that have enough GBP702mn (growth by 0.4% year on year). dependency on fuel imports from Russia,
fuel for 15 days, the Kyiv Independent In turn, exports from Azerbaijan to the the company said in a November 3 press
reported. The company stated that the UK amounted to GBP370mn (an increase release.

shelling was “another attempt” to connect of 12.5% y/y). The structure of British MEIL said that on a greenfield site it
the NPP to the Russian energy grid. exports was dominated by power generators would “build EPC-2 (Open Art Units,
“In the near term, they will try to repair (GBP93.7mn) or 27.4% of all merchandise Utilities & Offsites, Plant Buildings)
and connect the ZNPP transmission lines exports, vehicles (GBP47.7mn) and and EPC-3 (Captive Power Plants) at a
in the direction of the temporarily occupied jewellery (GBP28.3mn). cost of USD 790 million using advanced
Crimea and Donbas,” the company wrote on In turn, oil supplies from Azerbaijan technology in Mongolia”.
Telegram. to the UK amounted to GBP249.6mn or The refinery is to have a capacity of
Earlier this week, it was reported that 81.3% of all exports. In addition, deliveries 30,000 barrels of crude oil per day or 1.5mn
100 Ukrainian workers at the ZNPP signed of electric generators to the UK amounted tonnes annually. It will help Mongolia meet
contracts with the Russian state-owned to GBP34.7mn, appliances GBP3.8mn. its needs for petroleum products including
nuclear operator Rosatom, following a In general, Azerbaijan's share in the UK's gasoline, diesel, aviation fuel and liquefied
decree from Russian President Vladimir foreign trade was 0.1%. petroleum gas (LPG).
Putin to transfer the plant to Russian The project is part of the Development
federal ownership last month. According to Partnership Administration initiative of
UBN, 6,700 workers remain at the ZNPP, Poland’s PKN Orlen completes the Indian Ministry of External Affairs. It
the majority of whom are pro-Ukrainians will be built using a line of credit from the
resisting and delaying the attempted merger with PGNiG government India.
transition to the Russian grid, and it is likely Engineers India Limited (EIL) is the
that the workers signed the contracts under State-controlled Polish energy conglomerate project management consultant (PMC) for
pressure. Nevertheless, several signatories PKN Orlen has officially completed its this government-to-government (G2G)
are reportedly collaborating with the merger with another state entity, the oil and project.
Russian troops. gas exploration and production company According to MEIL's spokesperson:
The plant has repeatedly been under PGNiG, Orlen announced on November 3. "This downstream project is of enormous
fire since Russian forces captured it at the The merger-through-acquisition importance and marks a critical turning
start of March, with damages currently completes a long process put in motion by point in the relationship between India and
exceeding $760mn. With both Moscow and the Law and Justice (PiS) government to Mongolia and in MEIL's expansion strategy
Kyiv accusing each other of carrying out create an energy company able to become a in the hydrocarbons sector. In addition, the
attacks, the International Atomic Energy major international player. project will bring economic prosperity and
Agency (IAEA) sent a mission to inspect “We have merged with PGNiG. Thus, energy independence to Mongolia."
the plant on September 1 and demanded we are finalising the takeover processes,
Russian forces leave in a resolution backed thanks to which we are joining the group of
by 26 UN member states as well as the EU 150 largest companies in the world,” PKN Turkey’s October trade gap
on September 15. The mission noted “the Orlen’s CEO Daniel Obajtek said in a tweet.
presence of Russian military personnel, PKN Orlen formally completed another widens 430% y/y on high
vehicles and equipment at various places merger, with second largest Polish refiner
at the ZNPP”, in a report published last Grupa Lotos, on August 1. energy import bills
month. It expects annual turnover will reach
Moscow has ignored this demand and PLN400bn (€85.3bn) following the mergers. High energy import costs continued to
instead accused Kyiv of plotting a terrorist That is approximately four times the plague oil and gas import-dependent
attack at the plant by blowing up all six annual revenue of Hungary’s MOL but Turkey in October, causing the foreign trade
units. The Kremlin also claimed that still some distance behind the biggest oil deficit of the Middle East’s largest economy
Ukraine was manufacturing a radioactive companies operating in Europe, whose to expand for the 12th consecutive month.
dirty bomb in three nuclear facilities to annual revenues are in the hundreds of The trade gap for October registered
detonate in a false-flag attack on its own billions of euros. 430% higher year on year at $8bn, according

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