Energy
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The Kremlin has declined to predict the developments surrounding a possible deal between European companies and Azerbaijan for gas exports through Ukraine’s gas transportation system, noting Ukraine's refusal to extend its transit contract with Russia.
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The Saudi company ACWA Power has allocated $238 million for the construction of the "Khızı-Abşeron" wind power plant (WPP) with a capacity of 240 MW near Baku. According to the Middle Eastern publication “Gulf Business,” the power plant is expected to be fully operational in the first half of 2026.
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From January to October 2024, Russia boosted its pipeline gas exports to Europe by more than 15%, reaching 26.52 bcm, TASS reported based on daily data from Gazprom on transit through Ukraine and the European Network of Transmission System Operators for Gas (ENTSOG).
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Gazprom began withdrawing gas from underground storage facilities in Russia on November 1. By the winter of 2024/2025, Gazprom has created a gas reserve in Russian storage facilities amounting to 73.034 bcm.
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