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The European Commission (EC) has approved the PLN 1.78bn (€417m) Polish scheme designed to compensate energy-intensive firms for indirect CO2 emission costs, considering that the support policy complies with EU State aid rules.

Under the Polish scheme introduced in July 2019 and covering the period 2019-2020, around 300 energy-intensive companies in the steel, chemical and paper sectors among others will receive a partial refund of their electricity costs. Indeed, wholesale power prices surged in 2018, due to mounting power generation costs, in a context of rising coal prices and higher CO2 emission costs. Steelmaker ArcelorMittal decided to temporarily close its Krakow furnace due to surging electricity prices, while other industrial users faced 9-29% increases in electricity prices. The aim of the Polish measure is to restore their competitiveness and encourage them to remain in Poland.

The EC considers the scheme will avoid an increase in global greenhouse gas (GHG) emissions due to companies relocating to countries outside the EU with less stringent environmental regulation.

Gazprom will receive up to RUB 111bn (US$1.7bn) from the Russian state development bank VEB to finance its Baltic LNG project in Ust-Luga near Saint Petersburg (Russia). The project is estimated at RUB 900bn (US$13.5bn).

Novatek’s subsidiary Arctic LNG 1 has won the auction for a geological survey, exploration and production license for the Soletsko-Khanaveyskoye gas field at a price of RUB 2,586m ($38.8m). The 27-year license is located on the Gydan peninsula in Yamal-Nenets Autonomous Region. The area covered by the license has estimated hydrocarbon resources of 2,183 bcm of gas and 16 boe of oil. …

The US Environmental Protection Agency (EPA) has proposed amendments to the regulation on methane (CH4) emissions from oil and gas operations, the so-called New Source Performance Standards (NSPS) for the oil and natural gas industry, introduced in 2016 by the previous administration. …

The Ministry of Mineral Resources and Oil of Angola plans to issue an international public tender for the construction of a refinery at Soyo, in the Zaire province. The starting date and the specifications of the tender will be annouced soon.

The Crown Estate (United Kingdom) has completed the plan level Habitats Regulations Assessment (HRA) for the project extension applications, clearing 7 offshore wind projects with a combined capacity of 2.85 GW. The Estate will progress to the award of seabed rights. …

China National Machinery Import and Export Corporation (CMC) has set up a US$400m joint venture (JV) with the North-West Power Generation Company (NWPGC) of Bangladesh to develop up to 500 MW of renewable power projects in Bangladesh by 2023, highlighting the growing participation of China in the Bangladesh power sector.

US power utility Xcel Energy plans to start the construction of the 522 MW Sagamore wind power project near Portales (New Mexico, United States) by the end of the year. The wind project will be the largest single wind park in the state when commissioned, by end-2020. The project will be the final component of Xcel Energy’s wind power expansion programme launched in March 2017.