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Read carefully!!!

17.12.2009.
RUSSIA / EUROPE
IS MOSCOW STILL ENERGY BULLY IN THE EYES OF BRUSSELS?

With the arrival of winter, many residents of Central and Eastern Europe are probably recalling last year’s cold, when Russia decided to stop gas supplies to Ukraine. That was a harsh reminder that gas is currently Kremlin’s most important political instrument, used by Moscow to bring back the privilege it once had in the countries it now deems are in other camp. If Russia is allowed to continue imposing her rules in Europe’s energy supply sector, the result will be very expensive, not only for Europe, but for Russia as well.
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21.09.2009.
BULGARIA / RUSSIA / SOFIA ADOPTS NEW ENERGY POLICIES TOWARDS MOSCOW
MINISTER SHMATKO WANTS MAJORITY OWNERSHIP IN BELENE

Russian energy minister Sergey Shmatko visited Sofia last week, leading a large delegation. Following is the comentary prepared by Bulgarian economic weekly Banker.
 
"It doesn't really matter if first negotiations of the Bulgarian Government with Moscow were on the verge of heart attack or just difficult. It is far more important that Russo-Bulgarian relations will change and will take into consideration national interests, transparency and defence mechanisms towards pan-European policies. By the way, PM Borisov and energy minister Traykov have already announced, on several occasions, different relations with Russia.
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15.08.2009.
SERBIA
PM: SERBIA NEEDS MODERNIZATION
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09.04.2008.
BULGARIA / AFTER ASSASSINATION OF CLOSE COLLABORATOR OF HRISTO KOVACKI
IS BULGARIAN ENERGY MAFIA COMING BACK TO THE SCENE WITH THE RUSSIAN AID?!

Assassination of Borislav Georgiev, Atomenergoremont's managing director and close collaborator of Bulgarian energy magnate Hristo Kovacki, has stirred up Bulgarian industry public. Stefan Gamizov, consultant of energy companies, in the broadcast First of all on Bulgarian national radio (BNR) accused Bulgarian energy mafia for the crime, that is, according to him, lately becoming more increasingly important partner to Russian companies. Gamizov thereby warned that Bulgarian energy mafia is becoming increasing threat to the Balkans' energy, for it desires to become coinvestor in construction of Belene NPP.

- Not only they wanted to participate in construction of Belene NPP, but as far as I know, during the last four months, the Russians have started breaking business relations with their Bulgarian politic subcontractors (lobbysts) and started to turn to those who are, to put it popularily, getting well in the market, but I'd wish to give a pure political comment in this conversation, for it is very important in order to observe the environment where this assassination belongs to. You see, these people whom we alegorically refer to as the energy mafia, but I deem alegorical phrases are too mild in their case, for they are a seriously organized criminal group, have in the last two and a half years lost influence in the higher structures of governance. I'm speaking about the Council of Ministers and the Ministry of energy. Particularly with coming of the current minister Petar Dimitrov. I hereby don't wish to boost the current governance, but to say the current prime minister loathes such people. However, it's alarming that such people are now speaking of the future success of Bojko Borisov (the current mayor of Sofia and one of the leaders of Bulgarian opposition) with great love and affect. That greatly worries me, for I'm beginning to wonder if Borisov had some obligation toward these guys, that would force him to repay them in the future.

The whole interview that provoked attention can be seen in the column Read carefully.

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25.03.2008.
FYR MACEDONIA
ENERGYOBSERVER APOLOGIZES TO ELEKTRANI NA MAKEDONIJA (ELEM)

Belgrade-based company Energyobserver Empire (www.energyobserver.com) has been daily providing energy news from southeast European countries in serbian and english for three years. Lately we’ve started providing energy news from Russia, Ukraine and central Asia, for occurences in these countries are increasingly affecting European energy, thereby affecting southeast European energy as well. The web site’s information team is preparing each day over thirty news for our readers throughout Europe. A folk wisdom says: anyone who works, errs. Exactly that just happened to us, and unfortunately, we erred towards Vlatko Cingovski, director of Elektrani na Makedonija (ELEM).
 
The youngest member of our editorial board lately published in the column read carefully a text titled MACEDONIA: ELECTRICITY MANUFACTURE TO FACE COLLAPSE. The youngest journalist in the team gave correct information on electricity manufacture, but disrespected journalistics’ objectivity. Namely, he didn’t provide information on inherited situation that will for long burden future of Macedonian energy. Everyone is sometimes inclined to believe a magic wand could over night solve problems piled up for years. As if our young colleague thought the magic wand was in hands of Vlatko Cingovski who didn’t know how to use it. Unfortunately, energy is very complicated activity and magic wands can’t help it. Energyobserver Empire particularly respects Mr. Cingovski, for he’s gathered courage to initiate changes in the Energy Law, conscious of the fact he would thus provoke anger among many energy lobbies, but resolute to contribute in reviving Macedonian energy. We hereby apologize to Mr. Cingovski and the company he’s leading, hoping he would show understanding for rashness and inexperience of the youngest member of our editorial board.
 
Sijka Pistolova,
Editor
************************************************
ENERGYOBSERVER
www.energyobserver.com
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29.10.2007., Grzegorz Gromadzki (Stefan Batory Foundation) and Wojciech Kononczuk (Center for Eastern Studies, Warsaw)
UKRAINE, MOLDOVA AND BELARUS BETWEEN EUROPEAN UNION AND RUSSIA
ENDLESS ENERGY GAME

During the rule of Vladimir Putin, especially during his second mandate, the Russian policy towards former Soviet countries has changed a lot. Actually, Moscow has given up its rhetoric on reintegration, which was very dominant during Yeltsin’s mandate, adopting a more pragmatic approach, the key element of which is control over energy sectors of former Soviet countries. To achieve this goal, Russia used an increase in prices of oil derivatives, especially gas, for consumers in the countries of former USSR. From the aspect of Russian political interests, most important are Ukraine and Belarus, and Moldova is also significant to a certain extent. Russia uses gas and oil to demonstrate its political power in its relationship with the said countries, since they are completely dependent on Russian energy substances or, in the case of Ukraine, on gas imported from Middle Asia through Russia.
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09.09.2007.
MACEDONIA/ON THE SCANDAL WITH THE PRIVATIZATION OF OKTA OIL REFINERY TO HELLENIC PETROLEUM
DNEVNIK DAILY/GALE GALEV, CONSULTANT OF THE PRIVATIZATION OF THE REFINERY: MACEDONIA CAUSED ITS OWN DAMAGES

The agreement contained obligations towards Macedonia that were not met, mostly regarding the ownership of the oil pipeline; the investment agreement, the key document in the sale of OKTA was not suspended by the decision of the Constitutional Court to annul the Law on Ratification of the Agreement for Construction of the Pipeline. Its legal power exists today, with the note that it was violated in the implementation, from the viewpoint of its implementation from both of its parties, claims law professor Gale Galev, one of the few people in the country privy to the documents involved in the sale of the refinery.

In his words, the obligations in the investments agreement that resulted in the decision of the Paris Court of Arbitration are a completely separate issue. Another problem of the Project OKTA, as he calls it, is the allocation of responsibility, including the criminal responsibility, if any, for some of the persons involved in the creation of the agreement and its implementation.

Galev suggest to leave politics aside and, in order to ameliorate the damages created by the Paris decision, to establish a team of experts that will work on approaches to deal with its consequences. We present the interview that Galev gave to Skopje’s Dnevnik daily:
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16.07.2007.
SERBIA / SVETISLAV BULATOVIC / ENERGY FINANCING TEAM (EFT):
THE STATE OBSTRUCTS THE ENERGY INDUSTRY

A serious impediment to investments is the fact that the state-run electric power industry claims rights over all the unused mines and energy resources in our country. Private electric power companies in Serbia are unable to build power stations under the slogan of protecting the interest of our state-run electric power company. On the other hand, EPS does not have any investment resources, precisely as a consequence of having the state as the electricity price regulator.   This paradox only goes to show that the announced investments of a several billion Euros would be funded by us, the citizens of this country, and the state would get into debt on our behalf.   In my opinion, such a solution in the given circumstances would be not only wrong, but dangerous as well. The state’s job is not to build and manage power plants, but to reap profit from concession compensation and taxes.   In these terms, it makes no difference to the state whether it will reap profit from EPS, or from some private company – according to Svetislav Bulatović, Managing Director of EFT, as he stated in the interview to the Belgrade Ekonomist magazine, which is published in its entirety in the section “Read Carefully”.   
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20.06.2007.
REPUBLIC OF SRPSKA / WHY IS CEZ UNWANTED?
THE CONTRACT ON CEZ’S INVESTMENT IN GACKO – A BIG MISTAKE?
Executive Director of the Investment Fund Monte Cristo Capital, Adam Cleary, says in his letter sent to CEZ that after he read the contract, he got an impression that minor shareholders of the Mine and Thermal Power Plant Gacko (M&TPP Gacko) would be “excluded from the new structure and that the assets of M&TPP Gacko would be included in the new structure at significantly lower value in comparison to the market value it had before the transaction announcement”. “If any of the two scenarios comes true, we inform you that together with a group of other shareholders we will sue the Electric Power Company of RS and/or the Government of RS for deceiving small shareholders of M&TPP Gacko. If any of the said scenarios comes true, the signed contract will be completely unacceptable for a company that operates in the EU, such as CEZ”. continue

06.05.2007., Dr Zorana Z. Mihajlovic Milanovic
CORRUPTION IN THE ENERGY SECTOR
INCAPABLE MANAGERS KEEP THE ILLUSION OF THEIR SUCCESSFULNESS BY MEANS OF MONOPOLISTIC POSITIONS
Due to the huge energy demand (along with the limited supply sources), governments of the countries in transition allow existence of monopoly in this sector. Or, to put it even more simply, they tolerate monopolies because they are incapable to provide a reliable supply in any other way, and protect themselves from disturbances. In such environment, possibilities for huge profits appear, and the corruption becomes a component part of the energy sector. continue

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15.02.2010.
ROMANIA
ECONOMY MINISTER ADRIEAN VIDEANU: NEW ENERGY STRATEGY IS BEING PREPARED

The global economic crisis caused tectonic shifts in all economic sectors, and energy sector was not spared. Earlier projections for consumption of electricity are not valid anymore, and that is just argument in favour of a brand new energy strategy. We expect the new draft of the strategy in the second half of the year, and we don't intend to prepare it just to put my name on it, but because the changing realities demand a new paper.

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26.07.2010., Sijka Pistolova
MONTENEGRO/ITALY
INTERVIEW/ MIODRAG CANOVIC, ASSISTANT TO THE MINISTER OF ECONOMY

From the moment Montenegro Electricity Enterprise EPCG was joined by a strategic partner, the national energy sector has seemed reinvigorated, which was a reason enough to talk to Miodrag Canovic, Assistant to the Minister of Economy on energy affairs. Following is the full text of the interview.

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