economic consequences

January 10 2009

Bulgaria: Bulgaria Energy Minister: Industry Losses over Gas Crisis Reach BGN 58 M

Over 3,000 Bulgarian businesses, monitored by the Energy Ministry, have declared losses amounting to BGN 58 M due to the lack of gas supply, the Bulgarian Energy Minister Petar Dimitrov reported Saturday.

The Minister explained that these were only the direct losses and the amount was much higher, adding that legal teams were yet to begin working on the issue of Bulgaria receiving compensations for those losses.

Slovakia: Slovaks to restart nuclear unit due to gas shortage

Slovakia will restart a nuclear power plant unit it shut down at end-2008 to comply with its EU accession agreement because cuts in Russian gas supplies threaten to cause power blackouts, officials said on Saturday.

Bratislava declared a state of emergency on Tuesday after the flow of Russian gas stopped, and the government said the 440 MW unit at the older nuclear power plant, Jaslovske Bohunice, had to be put into operation again to maintain the stability of the entire electricity grid.

January 6 2009

Europe: Europe faces energy crisis as Vladimir Putin cuts Russian gas supply

Europe has been plunged into an energy crisis after Vladimir Putin ordered Russia's state-run gas company to cut supplies by 20 per cent.

As temperatures dropped below zero across much of Europe, the Russian prime minister instructed the head of Gazprom: "Cut it - starting today."

Haiti: Le gouvernement dément toute rareté de carburant en Haïti

The director of taxation at the Ministry of Economy and Finance, Ronald December, said Monday in artificial and temporary scarcity of gasoline led to long queues at service stations and slower traffic in Port-au-Prince.

Stressing that the importation of petroleum products is currently under the Petrocaribe Energy Cooperation signed in 2006 with Venezuela, the official mainly attributed the shortage of gasoline octane 91 and 95 registered to a problem at a refinery Curacao. The office of monetization, to negotiate orders, could not, he said, get the volume of petroleum products requested at the last shipment.

Honduras: Continúa desabastecimiento de gasolina súper en Honduras

The continue to be "no super" at petrol stations in the country. The disruption of fuel that has afflicted the people since the week of December 23 last year, despite the demands of consumers remains unchanged.

Yesterday some Esso, Shell and Texaco gas stations, had super and regular gasoline, but with limited availability. While refueling at national and Copene One, reported that it had the product.

Indonesia: Welcome back a morning coffee

Coming from a small peaceful town in Sumatra where electricity comes and goes as it likes, and having spent some years in the tidy city of Singapore, my moving to the megacity Jakarta came with hundreds of worries. I expected being stuck for hours in traffic jams, being the victim of burglary and being hit by traffic, but running out of gas was never expected.

Pakistan: City hit by severe gas shortage

A number of CNG filling stations also remained closed in the last two days due to low pressure. The Sui-Northern Gas Pipelines Limited (SNGPL) is facing a shortfall of around 400 million cubic feet (MCF) in Lahore. The company is carrying out six hours of load shedding to manage the shortage. The company has also suspended gas supply to a number of CNG stations of the city, sources in the SNGPL told Daily Times. They said that the company had received a number of complaints of low pressure from various areas of the city including Gulberg, Defence Housing Authority (DHA), Cantonment, Township, Green Town and Shadman.

Pakistan: Loadshedding closes 70 per cent industries

The Lahore Chamber of Commerce and Industry on Monday warned the government to immediately ensure uninterrupted supply of electricity to save the industry from a total collapse by making payments to Independent Power Producers (IPPs).

Ukraine: Ukraine says Gazprom cuts Europe gas supply to 1/3

Russian gas supplies via Ukraine to south-eastern Europe and Turkey were halted on Tuesday and Austria and the Czech Republic reported sharp falls in supplies in a deepening row between Moscow and Kiev.

Ukraine's state energy firm said Russia had cut flows through its territory by two thirds, jeopardizing supplies to countries including Germany, Europe's biggest economy.

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