What goes on in Poland on the 29th of May.
OSW: Russia’s demonstrative response to US sanctions
On 22 May, the Russian State Duma adopted a law on measures to counter the hostile actions of the United States and other countries (the so-called counter-sanctions law). In the coming days it will be adopted by the Federation Council and signed by the President. The law includes six general potential restrictions, which the Russian government may apply at the President’s request in response to the hostile actions of the US and other countries. These include: ceasing or withholding international cooperation with these countries; prohibiting or restricting the import from them of selected goods or raw materials into Russia; prohibiting or restricting supplies to them of selected Russian goods and raw materials; prohibiting or restricting the use by Russian state and local government institutions and selected legal entities of services provided by entities under the jurisdiction of states hostile towards Russia; prohibiting or restricting participation in the privatisation of Russian property or the organisation of privatisation processes by legal entities from states hostile towards Russia – write Iwona Wiśniewska and Marek Menkiszak, analysts at OSW.
Soldiers for LNG? A new message from Russia
The Russians defend Nord Stream 2 and criticize its potential competition, LNG from the USA. The message is at least two-way. They convince the West that it will lose financially on abandoning the dependence on gas from Russia and that LNG from the USA is not a threat to Gazprom, because Europeans are buying it under pressure. I invite you to another fairy tale about cheap gas from Russia – writes Wojciech Jakóbik, editor-in-chief of BiznesAlert.pl.
Polish Briefing: The gas directive versus the agreement for Ukraine
What goes on in Poland on the 28th of May.
A positive investment decision on GIPL reached
The gas transmission system operators from Poland and Lithuania have signed a Connection Agreement that governs legal, business, and technical aspects of the investment project. The conclusion of the Connection Agreement is a real joint commitment of the Parties to build the interconnector. The ceremony took place on 24 May 2018 in Copenhagen, during the on-going European Energy Infrastructure Forum.
Nord Stream 2 will not pay back? Putin’s friends will make a profit
According to Sberbank’s calculations, gas pipeline projects from Russia, Strength of Siberia, Nord Stream 2 and Turkish Stream will cost USD 93,4 billion together. The projects will not pay back to Gazprom, but they will provide lucrative contracts to the friends of the Russian president. One of the authors of the report has already been dismissed from work. This shows the political nature of the venture, writes Wojciech Jakóbik, editor-in-chief of BiznesAlert.pl.
EU co-financing contract for Baltic Pipe signed
Gaz-System and Energinet have signed a tripartite agreement with the EU Executive Agency for Innovation and Networks (INEA) for co-financing project works for Baltic Pipe under the Connecting Europe Facility (CEF). The contract signing ceremony took place on 24 May 2018 during the „Energy Infrastructure Forum” in Copenhagen.
Polish Briefing: PGNiG is not scared of sanctions against Iran. The Carpathians are still in the sights
What goes on in Poland on the 24th of May.
PGNiG Group’s Q1 2018 performance was stable, revenues went up
Q1 2018 net profit at PLN 1,57bn on revenue of PLN 13,25bn. Share of gas from across Poland’s eastern border continued to decline, from 84% to 78% of total imports over the year. Volumes of LNG imports to Poland up 31% over Q1 2017.
Will the US co-finance the Polish LNG hub for the Three Seas?
The information that at the top of the Bucharest nine, talks are to be held on the Three Seas fund, which may be supported the United States, has been confirmed, writes Wojciech Jakóbik, editor-in-chief of BiznesAlert.pl.