Page 15 - EurOil Week 10 2023
P. 15

EurOil                                      NEWS IN BRIEF                                             EurOil

       Green movement opposes US           the EU’s attention from reducing its gas   Russian Urals supplies to
                                           consumption – an inevitable need and
       fossil gas reaching Estonia         objective for the union in the near future.  Turkey’s STAR refinery said to hit
                                              “Just like tobacco companies are not
       through Lithuania                   invited to the process of legislative drafting   four-month high
                                           in healthcare, oil and gas companies should
       Lithuania should reject shale gas being   not be given any say in the development of   Flows of Russian Urals crude oil to Turkey
       delivered from the United States to a   legal instruments necessary for protecting   reportedly hit a four-month high in
       liquefied natural gas (LNG) terminal in   our climate,” the Green Movement said.  February after STAR refinery, owned by
       Klaipeda, Lithuania, says the Estonian   The organisation underscores the need to   Azerbaijan’s national oil company SOCAR,
       Green Movement, BNS, a Baltic newswire,   invest in wind and solar energy and energy   recommenced purchases of the blend.
       reported on March 6.                storage solutions, which help tackle climate   Data and four industry sources were
         Fracking is a disaster for climate and for   change, BNS said.         cited by Reuters on March 1 in determining
       communities affected by the brutal drilling                              the supply peak was recorded.
       method, the Estonian Green Movement                                        The boosted supplies to STAR arrived
       claims.                             Bulgaria’s energy regulator          as a European Union embargo on sea-
         According to it, fracking pollutes                                     borne Russian oil supplies took hold. The
       drinking water and produces large amounts   lowers natural gas price by 14%   embargo, as well as a price cap of $60 per
       of toxic, even radioactive wastewater.  It                               barrel on Russian oil have been applied by
       causes indescribable harm to impacted   for March                        the West over Moscow’s war in Ukraine.
       communities and leads to several public                                  Turkey has not imposed any sanctions on
       health problems.                    Bulgaria’s state energy and water regulation   Russia in response to the conflict. Russia
         Fracking can trigger earthquakes and   body, KEVR, said it has approved a request   considers Turkey a friendly country despite
       drives the petrochemicals and plastics   of the state-owned gas supplier Bulgargaz   its Nato membership.
       boom as well as destructive infrastructure   to lower the natural gas price by 14% as of   Reuters reported Refinitiv Eikon ship
       buildout. Fracking is a technology widely   March 1, after lowering the price by more   tracking data as showing 860,000 tonnes of
       banned across the EU over environmental   that 30% a month earlier.      Urals crude were shipped to Turkish ports
       concerns, the association writes on its   The new price is BGN106.74 (€54.6) per   last month, up from 620,000 tonnes in
       website.                            MWh without VAT, access and transport   January and 370,000 tonnes in December.
         Some 4-30 million litres of water and   fees.                            Supplies of Russian oil to the
       around 151,000 litres of chemicals are used   The price is falling as a consequence of   200,000-barrel-per-day STAR refinery
       per fracking project, according to the Green   the lower prices on international markets,   were restarted at the end of January after a
       Movement.                           the warm weather and the low share of gas   month-long hiatus. They reached 100,000
         The Estonian Green Movement says   from the Chiren gas storage.        tonnes in January and at least 300,000
       that fossil gas, regardless of its origin is   At the same time, the price is affected by   tonnes in February, according to the quoted
       not the solution for Europe. The EU’s goal   the 33.54% share of the cheap Azeri gas in   data and industry sources.
       to stop using Russian gas could be a great   the total consumption.        SOCAR Trading manages the supply of
       chance to accelerate a just transition. Even                             the refinery.
       though it has been necessary to temporarily
       diversify the import of LNG, it has diverted








































       Week 10   08•March•2023                  www. NEWSBASE .com                                             P15
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