Hungary granted one-year US sanctions waiver to continue importing Russian energy

Hungarian Prime Minister Viktor Orbán announced that Hungary has secured an exemption from US sanctions on Russian oil and gas, following a meeting with US President Donald Trump in Washington. The waiver allows Hungary to continue importing Russian crude and natural gas via the TurkStream pipeline and the Druzhba oil network, despite the broader sanctions […]

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EU regulator urges Greece to probe possible market manipulation by power producers

The European Union Agency for the Cooperation of Energy Regulators (ACER) has urged Greece to investigate whether electricity producers intentionally withheld generation capacity during the summer of 2024 to influence market prices. The agency also called for greater data transparency to improve monitoring and prevent potential market abuse. According to ACER’s analysis, generation behavior played

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Greece signs €25 billion LNG deal with US Venture Global to strengthen regional energy security

Greek state energy company DEPA and construction giant Aktor have signed a 20-year, €25 billion contract with US producer Venture Global to import up to 4 billion cubic meters of LNG annually starting 1 January 2030. The agreement, concluded through their joint venture Atlantic-See LNG Trade during the 6th Transatlantic Energy Cooperation Summit in Athens,

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Region: Slovnaft blames Croatian operator JANAF for crude oil delivery failure, warns of regional supply risks

A planned shipment of 58,000 tons of Arab Light crude oil, scheduled to arrive on 6 November under an existing contract between Croatian pipeline operator JANAF and Hungary’s MOL Group, has been delayed due to what Slovak refinery Slovnaft calls logistical failures by JANAF. The disruption, according to Slovnaft, violates contractual obligations and threatens the

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Bulgaria takes full control of Lukoil operations under new emergency law

Bulgaria’s Parliament has passed sweeping legislation granting a state-appointed special commercial administrator (SCA) full control over the Bulgarian assets of Russian oil giant Lukoil, effectively suspending shareholder authority. The administrator now has exclusive power over management decisions, share transactions, and asset sales. This marks the second major intervention involving Lukoil in two months, following an

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Bosnia and Herzegovina: Breakthrough achieved on 13-kilometer headrace tunnel for HPP Dabar, one of the largest in Europe

A ceremony marked the completion of the breakthrough phase of the headrace tunnel for Hydropower Plant (HPP) Dabar, one of the largest hydraulic tunnels built in southeastern Europe in the past four decades. The 13-kilometer tunnel, constructed by Integral Engineering, is a central component of the €285 million HPP Dabar project, accounting for around €60

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Region: ICGB and regional operators launch new gas routes to boost supply toward Ukraine

The independent operator of the Greece–Bulgaria gas interconnector (ICGB) has joined forces with neighboring transmission system operators to create two new capacity routes designed to enhance gas transport to Ukraine. The new Routes 2 and 3 will channel natural gas from Greece’s Alexandroupoli LNG terminal and the Trans-Adriatic Pipeline (TAP) through the IGB interconnector, continuing

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Region: Swiss trader Gunvor withdraws bid for Lukoil assets after U.S. opposition

Swiss commodities trader Gunvor has withdrawn its proposal to acquire the foreign assets of Russian oil giant Lukoil, following strong opposition from the U.S. Treasury, which labeled the company a “Kremlin puppet.” The move ends what would have been Gunvor’s largest acquisition to date and highlights Washington’s continued push to isolate Russia financially amid the

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Serbia: EPS launches €110 million modernization of Vlasina hydropower plants to boost capacity and extend lifespan

Serbia’s state-owned power utility EPS is continuing its hydropower modernization program, following upgrades at the Bajina Bašta, Zvornik, and Đerdap 1 plants. The next phase will focus on the Vlasina hydropower plants, with a reconstruction and modernization contract signed with Energotehnika Južna Bačka. The project coincides with the 70th anniversary of the Vlasina hydropower system

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Romania: Parapet and Alerion sign seven new solar projects totaling 80 MW

Romanian renewable energy engineering company Parapet has signed seven new contracts with Italian renewables developer Alerion, expanding their long-term partnership with projects totaling nearly 80.8 MW across Romania and Italy. Construction will take place in Romania’s Teleorman and Călărași counties and in Italy’s Puglia and Tuscany regions, with most installations expected to be completed by

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