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Naftogaz turns to RWE to reduce reliance on Gazprom
Article | May 14, 2012 - 5:11pm

On 14 May, Germany RWE Supply & Trading (RWEST) confirmed it has signed a gas sale and purchase agreement with Ukrainian national joint stock company Naftogaz.

On 14 May, Germany RWE Supply & Trading (RWEST) confirmed it has signed a gas sale and purchase agreement with Ukrainian national joint stock company Naftogaz, the former Soviet republic’ largest energy producer. “I can confirm that we have met the framework agreement. The gas will be sourced from RWEST's pan-European gas portfolio,” RWEST's Sabine Jeschke told New Europe without commenting on any other details like gas volumes “because this will depend on individual contracts”.

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Italian Power producer Enel eyes TAP gas project
Article | May 6, 2012 - 10:23pm

Italian Power producer Enel has expressed interest in joining Trans Adriatic Pipeline (TAP) that aims to pump Azeri gas to Europe. “Enel is interested in projects that bring gas to the country,” Enel Chief Executive Fulvio Conti said on 2 May. 

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Growth healthy in 2011
Article | April 29, 2012 - 9:44pm

Data from the official statisticians of Latvia recently revealed that the Latvian economy grew by 5.5% in 2011. With a better flow of investments and an overall improvement in the business climate, Latvia’s shortfall was more than halved, shrinking to 3.5% of economic output from 8.2% in 2010, the data showed. 

Data from the official statisticians of Latvia recently revealed that the Latvian economy grew by 5.5% in 2011. With a better flow of investments and an overall improvement in the business climate, Latvia’s shortfall was more than halved, shrinking to 3.5% of economic output from 8.2% in 2010, the data showed. 

Both outward and inward business flows fuelled the performance as it spurred industrial growth last year. 

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Paper producer pulped
Article | April 15, 2012 - 7:47pm

One of Norway's oldest paper mills, Peterson Paper in Moss, established in 1801, has declared itself bankrupt, and is closing down, with the loss of 260 jobs, Norway Post reported on 12 April.

One of Norway's oldest paper mills, Peterson Paper in Moss, established in 1801, has declared itself bankrupt, and is closing down, with the loss of 260 jobs, Norway Post reported on 12 April.

The Peterson Group's factory at Ranheim near Trondheim, will also be closed, and another 110 employees there will also lose their jobs.

The sister company Peterson Packaging with factories at Sykkylven, Sarpsborg and Ranheim will not be affected.

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Russia’s Novatek interested in Cyprus offshore gas
Article | April 15, 2012 - 7:54pm

Russia top non-state gas producer Novatek is interested in bidding for licences to explore Cypriot offshore gas deposits, Reuters reported. 

Russia top non-state gas producer Novatek is interested in bidding for licences to explore Cypriot offshore gas deposits, Reuters reported. Cyprus reported its first natural gas find in December, when US based Noble Energy said it had discovered an estimated five trillion to eight trillion cubic feet in a block south of the island. The block lies close to where neighbouring Israel has reported significant discoveries in the past two years.

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US raises stink over Swiss cheese
Article | April 15, 2012 - 7:46pm

A major Swiss cheese label organisation and a leading dairy producer are at odds over a sales offensive on the United States market, Swiss Info reported on 11 April. Le Gruyere AOC, representing more than 170 producers of the famous cheese, criticised the Emmi dairies of damaging the special origin label. 

A major Swiss cheese label organisation and a leading dairy producer are at odds over a sales offensive on the United States market, Swiss Info reported on 11 April. Le Gruyere AOC, representing more than 170 producers of the famous cheese, criticised the Emmi dairies of damaging the special origin label. The director of Gruyere AOC, Philippe Bardet, told the Swiss News Agency that Emmi dairies acted unethically, but within the law as there is no Protected Designation of Origin label in the US.

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‘Super-cooled’ LNG from Russia’s Shtokman worries EU
Article | April 12, 2012 - 10:44am

Gazprom's deputy CEO Alexander Medvedev said the company is considering liquefying all of its gas production from the first phase of the Shtokman project, and that Russia’s major gas producer may alos scrap plans to pipe Arctic gas from the Barents Sea deposit.

Gazprom's deputy CEO Alexander Medvedev said the company may be considering liquefying all of its gas production from the first phase of the Shtokman project. He also said Russia’s major gas producer may scrap plans to pipe Arctic gas from the Barents Sea deposit, which might fuel concerns in Europe about the reliability of Russia as a major long-term gas supplier, amid increasing demand for gas in Asian markets.

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Canada to ratchet up investment in Greece
Article | April 1, 2012 - 7:32pm

ATHENS – Canada is confident that Eldorado Gold Corporation, a Canadian international gold producer, will have a success story in debt-troubled Greece and help will change perceptions, Canada’s Ambassador to Greece Robert William Peck told New Europe on 27 March in Athens.

ATHENS – Canada is confident that Eldorado Gold Corporation, a Canadian international gold producer, will have a success story in debt-troubled Greece and help will change perceptions, Canada’s Ambassador to Greece Robert William Peck told New Europe on 27 March in Athens.

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Continental Farmers Group's profits up 19%
Article | April 1, 2012 - 7:50pm

Continental Farmers Group has reported pre-tax profits of  €3.1 million for the year to the end of December, up 19% on the €2.6 million reported in 2010, RTE Ireland reported on 27 March.

Continental Farmers Group has reported pre-tax profits of  €3.1 million for the year to the end of December, up 19% on the €2.6 million reported in 2010, RTE Ireland reported on 27 March.

Group revenues also rose by 19% to €25 million, which the company said reflected the positive backdrop to primary food production and a major crop expansion by the group.

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Yara investigates posssible corruption
Article | April 1, 2012 - 7:25pm

Norwegian global fertilizer producer Yara International has initiated an external investigation which has now uncovered unacceptable payments from the company's joint venture in Switzerland, Norway Post reported.

Norwegian global fertilizer producer Yara International has initiated an external investigation which has now uncovered unacceptable payments from the company's joint venture in Switzerland, Norway Post reported.

The Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime (OKOKRIM) has been notified of the new findings.

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