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You are here:  Home / Energy Resources / UPI Energy Watch

Energy Resources

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UPI Energy Watch

Published: April 25, 2008 at 4:53 PM
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Today's Price of Crude Oil
Nymex Crude Oil
    125.67 +1.23 (+0.99% )
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Turkey courts German firms

Turkey's energy minister invited German firms Thursday to invest in energy projects in Turkey, Anatolia reported.

Energy & Natural Resources Minister Hilmi Guler said he expects energy investment to reach $130 billion by 2020.

During a meeting of the Turkish-German Cooperation Council, Guler listed Turkey's energy projects: nuclear power plants, lignite power stations, dams, wind stations, mine exploration, geothermal and hydrogen power plants, renewable energy, energy efficiency and electricity distribution lines.

Many Turkish and German investors participated in the council that held its 14th meeting in the Turkish capital, Ankara.

"Our biggest investments are Afsin-Elbistan C and D thermal power plants as there are significant lignite beds there. We want to generate electricity from coal with clean technologies," Guler said.

He said Turkish and German firms might cooperate in wind, production of devices to promote energy efficiency, and energy distribution lines.

He also said authorities would call for a tender within a few weeks to privatize electricity distribution. Guler said Germany's RWE had been chosen as the sixth partner in the Nabucco project.


Japanese energy firms not overactive on oil supply route from Russia

Alexander Losyukov, former Russian deputy foreign minister and former Russian ambassador to Japan, said Japanese energy companies are not overactive in the issue of the route of a Russian oil pipeline in the Far East.

"So far they (the Japanese) are basically oriented for our gas on Sakhalin. As for oil, they wish that our oil pipeline reached the Pacific shore in the future. But only official circles reveal this wish, while the private energy companies behave rather passively," Losyukov said in an interview with the Vremya Novostey newspaper.

"The pressure in this area comes rather from the Chinese neighbors," he said. "I do not think that the rivalry between China and Japan will give Russia a powerful 'weapon.'"


Gazprom, Qatar Petroleum mull joint projects

Gazprom head Alexei Miller met with Qatari Prime Minister Sheik Hamad bin Jassim bin Jabir al-Thani in Berlin Wednesday to discuss energy cooperation.

The two sides discussed prospects for energy cooperation, including possible joint investment projects by Gazprom and Qatar Petroleum.

Qatar has the world's third-largest natural gas reserves after Russia and Iran. Proven reserves are estimated at 25.8 trillion cubic meters.

The country bolstered its positions on the world gas market thanks to the production of liquefied gas it exports to key markets in Asia and the Pacific, Europe and North America.

Domestic gas extraction has substantially increased over the past five years and hit 49.5 billion cubic meters in 2007. Nearly all gas is extracted at the North Field deposit on the continental shelf in an area bordering Iran. Domestic gas consumption is 16 billion cubic meters. The bulk of it is used to generate electricity.

--

Closing oil prices, Apr. 25, 3 p.m. London

Brent crude oil: $116.35

West Texas Intermediate crude oil: $118.04

--

(e-mail: energy@upi.com)



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