The memorandum on creation of the Adriatic Gas Corridor, which will connect Ukraine, Hungary and Croatia, could be signed at the Eastern Partnership summit in Vilnius at the end of November 2013, Ukrainian Minister of Energy and Coal Industry Edward Stavizkii said on Thursday.
The memorandum on the Adriatic Gas Corridor was expected to be signed on Tuesday, November 5, 2013 in Kiev by the heads of Ukrainian and Croatian governments – Nikolai Azarov and Zoran Milanovich. But Milanovich did not arrive in Kiev. The press office of the Ukrainian Premier provided no information about the reasons of cancellation of the official visit.
“The memorandum could be signed in Vilnius,” Stavizki said at a press conference. The Eastern Partnership Summit will take place on November 28-29, 2013. Minister said the draft memorandum has been coordinated by the sides.
Ukraine hopes to sign the association agreement with the European Union, which envisages creation of the free trade zone, in Vilnius.
The Ukrainian Ministry of Energy reported in October that Ukraine, Croatia and Hungary have agreed to implement the Adriatic Gas Corridor project. The pipeline will be connected to the LNG-terminal, which Croatia plans to build on the Krk island in the Adriatic Sea.
The Corridor envisages natural gas deliveries from the terminal to the Ukrainian gas storages through Hungary’s gas transportation systems.—0—
Economics
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Elon Musk, co-chair of the U.S. Department of Government Efficiency (DOGE), has outlined a strategy to bring inflation in the United States down to zero by 2026 through aggressive cuts in federal spending. Musk’s plan, which aims to reduce approximately $4 billion in projected daily expenditures, is designed to shrink the federal deficit to $1 trillion by 2026. While the deficit would still be substantial, Musk argues that accelerated economic growth could offset inflationary pressures, ultimately stabilizing the economy.
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
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