EnVal = Energy Value
Energy Value is our new energy monitor, evolving from the conversations between the AC+ team and our team at Global Industrial Consult. We read the news every day and try to understand how geopolitics influences and is influenced by the business of the energy sector. We hope you will appreciate reading our detailed but focused analysis monitor.
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You will be able to read some of the updates we have in our EnVal also on our website, as we will post them in this section. However, the full EnVal, comprising our analysis over a period of two weeks, will only be sent via email.
Here are some of the May EnVal highlights:
- S. sanctions diplomacy on both Iran and Russia is not mirrored by the Europeans. On the contrary. While the EU member states are divided on U.S. sanctions on Russia, the sanctions on Iran seems to have them united – at least in Brussels. But this has an impact on the negotiations over energy infrastructure projects and energy business in Europe, considering the Eastern European alignment to the American position.
- While Germany is supportive of Nord Stream 2, it also tries to assure Ukraine that gas transit through Ukraine will continue after Nord Stream 2 would be built. While Berlin is issuing diplomatic assurances, Gazprom has pointed to a pragmatic reason for which the transit would continue. But while talks make headlines in the media, the pipeline’s construction is still facing some problems relating to its finances and the legal framework governing it. And, last but not least, the U.S. opposition to the project remains constant.
- Bulgaria had the most surprising evolution this month – after announcing that it wants to build a hub in Varna and got Germany’s diplomatic approval for that, several important announcements followed during the last half of May. Sofia announced its intention to restart the Belene Nuclear Project and Bulgarian President Rumen Radev, after meeting with the Russian PM said that Bulgaria and Russia should reconsider the possibility of direct supply of Russian gas across the Black Sea to Bulgaria. These are only two items of those we have wrote on in our EnVal. There seems to be a certain level of impatience on Sofia’s side with regards to its energy security position. Clearly something that will continue in the future – so, chances are that this is only the beginning.
In our first EnVal, we have also looked at the evolution of the relationship between Russia and Turkey. We have also considered the topic of cryptocurrency energy consumption – which is one to become increasingly interesting both for businesses and policymakers to tackle.
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