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International mediation mechanism for Armenia, Azerbaijan conflict “does not seem fit for purpose” says former co-chair

Noting July skirmishes took place far from contested Nagorno Karabakh territory, former US diplomat says clashes “may have unleashed a dangerous new geopolitical dynamic” partly given their proximity to strategic oil and gas pipelines.

Lithuanian energy minister says Belarus will lose hundreds of millions of euros due to Baltic boycott of its electric power

Azerbaijan's revised budget highlights hit to public finances from oil and virus says Fitch

Planned deficit raised to 12.4% of GDP from 2.3%. Baku forced to raid sovereign wealth fund to support manat.

EU’s top diplomats ‘to discuss toolbox of Turkey options broader than sanctions’

Berlin meeting takes place as France joins Italy, Greece and Cyprus in military exercises in eastern Mediterranean where Ankara is accused of illegal gas and oil exploration.

Romania’s Transgaz plans to sell 25% stake in Moldovan subsidiary to the EBRD

Bulgaria’s Bulgartransgaz acquires 20% interest in Greek LNG terminal

Romania’s CE Oltenia outlines restructuring and decarbonisation plan with €1.5bn of investments

Troubled energy giant to scale down coal power production and gradually close its coal mines while investing into new renewables capacity.

'Daunting challenges lie in way of those minded to revive Trans-Caspian Pipeline project'

Analyst says: “TCP has great political appeal and is destined to remain alive for many years, if only on PowerPoint presentations... it will provide fodder for politicians and bureaucrats (ignorant of or not understanding commercial realities)."

BEYOND THE BOSPORUS: Has Erdogan discovered more reserves of hot air?

So far the markets don’t see Turkey’s gas find in the Black Sea as a game-changer and the more cynical perceive Ankara as bigging it up to put a brake on the beleaguered lira. The jury, however, is still out.

Turkey’s Black Sea find ‘could potentially meet country’s energy needs for 20 years’

Claim that Turkey’s made Black Sea energy discovery sends ripple through markets

Erdogan promises to deliver Turks some “good news” in two days that will signal “the beginning of a new era” for the nation. Against backdrop of beleaguered lira, Turkish president is badly in need of a lift.

Venezuela-bound fuel seized by US from tankers ‘no longer belonged to Iran’ says oil minister

Turkish refiner Tupras swings to Q2 net loss of TRY185mn

Turkish refiner Tupras swings to TRY185mn net loss in Q2. Oil price and pandemic woes deal company double blow. Major companies in Turkey showing chunky FX deficits. Turkish Airlines becoming another burden for country.

US ‘grabs Iranian fuel en route to Venezuela’

Move disrupts growing strategic alliance of two sanctioned nations that Washington finds hard to swallow.

French conduct military exercises with Greece off Crete as disputed ‘energy’ waters row with Turkey worsens

Debut green bonds issued on Astana International Exchange

UNDP backs milestone achievement of Kazakhstan’s Damu Entrepreneurship Fund. Move based on reduction of investment risks in renewable energy.

VTB Capital sees complications with viability of Tajik eurobond amid weakening sovereign profile

Significant rainfall reduction in Tajikistan’s Pamir mountains hit country’s hopes for electricity export to Pakistan, perhaps undercutting potential of “TAJIKI bond” financed Roghun hydropower dam project.

Belarus set to start the Ostrovets NPP within the next few days

Operations at the first unit of the new Belarusian nuclear power plant (NPP) in Ostrovets, near the Belarusian-Lithuanian border, are being launched early and slated to start in the next few days

Turkey’s electricity consumption down 0.5% y/y in July

Poland’s state-run power corp Energa posts huge loss in Q2

Czech state and utility company CEZ signed agreement on Dukovany nuclear power plant construction

Lithuania’s Ignitis to invest €950mn in green energy in Baltics, Poland

Ignitis considering investments into wind, solar, hydro, waste and biomass powered plants. Company strategy calls for achieving carbon neutrality by 2050,

Turkish lira nears record low versus euro with market anxious over EU sanctions and tie to dollar

Spanish foreign minister was in Ankara attempting to ease tensions over eastern Mediterranean drilling plans that have upset Greece and Cyprus.

Poland to table restructuring plan for crippled miner PGG

PGG has been struggling in 2020, as lockdown measures introduced to curb the spread of the coronavirus pandemic reduced demand for electricity. Poland derives nearly 80% of its power from burning hard and lignite coal.

Greek military ‘warning Turkey not to allow seismic research vessel’s cables to touch Greece’s continental shelf’