Kyrgyzstan signs deal for construction of two hydropower projects with Czech Republic

11/07/2017 09:45 Hydro

news

Kyrgyzstan has signed a contract with the Czech Republic company Liglass Trading regarding the construction and management of the hydropower plants Akbulun HPP and Naryn HPP-1 in the Upper Naryn cascade. 

The cascade was originally intended for the construction of four hydropower units - Akbulun HPP and Naryn HPP-1, Naryn HPP-2 and Naryn HPP-3. Liglass Trading is ready to fund $230 million for the development of Akbulun HPP and Naryn HPP-1. After their completion, Liglass Trading will be ready to invest in the remaining two units - Naryn HPP-2 and Naryn HPP-3.


The 237 megawatt cascade was designed to produce 942 million kilowatt hours annually, although the numbers might prove to be variable, as is the entire cost of the project, which might vary between $400 million to more than $700 million. 


Kyrgyzstan’s president Almazbek Atambayev intents to export power to neighboring countries, especially Afghanistan and Pakistan.
 

OMV does not expect a cash call from Nord Stream 2 until the end of the year

15/08/2017 11:34:00

OMV is confident that Gazprom-owned Nord Stream 2 won’t be making any more cash calls until the end of the current year. OMV has already settled the first €200 million portion of its funding obligation for the construction of the 55 bcm/year pipeline from Russia to Germany.

<READ MORE

Daily (15.08.2017): Oil prices dropped by 2.6% on Monday of weakening Chinese oil demand

15/08/2017 11:17:00

Oil prices decreased on Monday steeper than expected on raising concerns that a glut of refined fuel products might weaken Chinese demand for oil. Also, U.S. drilling rig data published by Baker Hughes on Friday showed explorers boosted oil drilling capacity. Oversupply has been supported by rising production in Libya, which is trying to regain its pre-war oil production levels. Brent fell by 2.63% to close at $50.73 a barrel, while WTI price declined by 2.52% to end at $47.59 a barrel.

READ MORE

Lack of customers drives Spanish coal mine to close down

15/08/2017 09:31:00

The La Escondida coal mine was shut down on Friday. The last-of-its-kind project was located in the Caballed de Arriba town, and was closed down because no one wanted to buy its coal.

READ MORE