Energy

Kenya and Turkey have exceeded forecasts for harnessing geothermal energy, but other developing countries, including Indonesia and the Philippines, are lagging behind on leveraging the renewable power source, a new analysis shows.

US-owned thermal power plant AES 3C Maritza East I and Bulgaria's National Electric Company (NEK) have finalized the agreement on amending the long-term contract for purchasing electricity generated by the TPP.

The agreement was negotiated in April and it concerns the capacity price of AES 3C Maritza East I, according to a media statement of the US-owned TPP.

Serbian Prime Minister Aleksandar Vucic on Monday said Serbia will try to expand the capacity of Banatski Dvor, its only gas storage, from 450 million to one billion cubic meters, to increase energy security.

The gas storage facility under Lake Tuz in Central Anatolia will become fully operational by 2019, according to sources from the Energy Ministry. 

Some 65 percent of the construction activities have already been completed and the first part of the project, which is composed of six storage units, will be opened by 2017, according to officials. 

Bulgaria is able to start building the cancelled South Stream gas pipeline project as early as tomorrow, the country's former Energy Minister Dragomir Stoynev said on Wednesday.

Greece, Hungary, Macedonia and Serbia may sign a memorandum on the construction of a gas pipeline from Turkey to Austria in the autumn, Vedomosti reported on Wednesday, citing a participant in the project

Facing a cold shoulder from Europe and increased competition at home, Russia's Gazprom has struggled to assert dominance on the global energy market, prompting speculation the energy giant could have no choice but to splinter.

Aksa Enerji has opened a 270-MW power plant that will produce electricity using local coal resources for $390 million in the Göynük district of the Black Sea province of Bolu. 

Turkey's first power plant investment with the coal royalty will produce 2 billion kilowatt/hour (kWh) energy every year, the company stated in a press release on Aug. 14.

Japan restarted on Tuesday its first nuclear reactor since the Fukushima disaster, which took place in 2011.

All nuclear power plants in Japan were gradually turned off after a series of meltdowns at Fukushima caused by the powerful earthquake and resulting tsunami in 2011.

The construction of the first branch of the proposed Turkish Stream gas pipeline will cost EUR 4.3B, while the price of the four planned pipes will be EUR 11.4B, according to estimates of Russia's Gazprom.