March 2009

MOL, Gazprom to Build Gas Storage Site in Hungary Independent of South Stream

By: Vladimir Socor

On March 10 in Moscow, Hungary's privately-owned MOL oil and gas company signed an agreement with Gazprom Export in Moscow to jointly establish a gas storage company in Hungary. Prime Ministers Vladimir Putin and Ferenc Gyurcsany witnessed the signing. This project is separate from and, in all probability, independent from Gazprom's South Stream pipeline project, one section of which is planned to traverse Hungary. MOL is not participating in South Stream (Interfax, March 10, 11).

Turkish Government May Approve Construction of a Nuclear Power Plant in April

By Emrullah Uslu

Russian Energy Minister Sergey Shmatko paid an official visit to Ankara to meet with Turkish Energy Minister Hilmi Guler. At the meeting, Shmatko inquired when the Turkish authorities would make their final decision to allow the Russian-Turkish consortium to build Turkey's first nuclear power plant. Guler said that assessments of the consortium's bid had reached the final phase. It was reported that the Turkish government would make its final decision after the provincial election on March 29. Before the visit the Turkish press speculated that Russian officials were coming to Turkey because of concern that the Turkish government might revoke the bid that was made by the Russian-Turkish consortium.

Kazakh Oil Flows to Feodosiya

Anna Ahmetova

Feodosiya import increased oil transferring in 2,8 times. Up to May, monthly oil processing volume will comprise not less than 200 thousand tons.

According to the press service of the Ukrainian Ministry of Transport and Communications, in January the transshipment port increased the transfer up to 216,5 thousand tons, in comparison with the previous January value of 75,1 thousand tons.

The key out of crisis

By Nursultan Nazarbaev, President of Kazakhstan

The global world crisis which is shaking the countries and continents today is a special phenomenon unknown to mankind ever before. It is definitely an unprecedented phenomenon which does not have its analogy in world history and which is cardinally changing the world order with all its economic foundations. That is why for its analysis, understanding and for overcoming it a totally different approach is required which should reexamine all the old dogmas and stereotypes.

EU assigns funds and staff to “Eastern Partnership”

By Andrew Rettman

With EU leaders putting €600 million in the pot for the Eastern Partnership, the European Commission is mulling over how to assign personnel to run the new project.

"The means are there for this to start up, that's the most important thing," Czech EU presidency foreign minister Karl Schwarzenberg said in Brussels on Friday (20 March), after EU leaders approved the policy at a meeting dominated by multi-billion euro plans on the economy.

Merkel Confident G20 Summit Will End in Global Agreement

German Chancellor Angela Merkel said she was optimistic world leaders would reach an agreement at next month's G20 summit in London, despite signs of rifts between Europe and the United States.

Speaking after talks in London with British Prime Minister Gordon Brown, Merkel said she was confident a compromise would be reached by world leaders at G20 meeting scheduled for April 2.