|

Vestas and Fortum settle arbitration over Russian wind energy projects

By

Danish wind turbine manufacturer Vestas and Nordic energy company Fortum have settled their arbitration dispute regarding wind energy projects in Russia. Both parties agreed to drop all past, present, and future claims, with the settlement terms remaining confidential. The dispute began in 2022 when Fortum initiated arbitration at the International Chamber of Commerce in Stockholm. Fortum sought more than $218 million (€200 million) in compensation from Vestas for payments made on wind projects in Russia…

|

Russia files lawsuit against energy giant Shell

By

A Russian court document revealed that the prosecutor general of Russia has filed a lawsuit against eight Shell units in Moscow’s arbitration court. The case involves Gazprom, the Russian Energy Ministry, regulators from Sakhalin Island, and the prosecutor general’s office. Shell previously held significant stakes in Russian energy projects, including a liquefied natural gas (LNG) plant on Sakhalin Island operated by Gazprom. However, after the Ukraine invasion, Shell withdrew from all Russian projects, including the…

|

Russia seeks to counter West’s climate agenda with gas, nuclear power

By

Russia plans to present its own climate-related proposals, differing from Western approaches, ahead of the COP29 U.N. climate summit in Azerbaijan this November, according to Deputy Energy Minister Pavel Sorokin. Amid strained relations with the West, Russia is crafting a new energy strategy through to 2050, focusing on measures that do not hinder its development potential. Sorokin highlighted energy efficiency as a key method for reducing emissions, noting that Russia’s energy-saving potential is 20-30%. He…

|

Russian ‘shadow fleet’ poses environmental risk in Baltic Sea, warns Greenpeace

By

A recent Greenpeace report warns of the significant risk posed by Russia’s so-called ‘shadow fleet’ of ageing tankers transporting crude oil, which bypass international sanctions. The report highlights the environmental threat of a potential oil spill in the Baltic Sea, particularly along the German coastline near Rostock, Lübeck, and Kiel. Greenpeace experts analysed four years of vessel movement data from tankers leaving Russian Baltic ports, including Primorsk, St. Petersburg, Ust-Luga, and Vysotsk. With Russia increasing…

|

India expresses interest in Russia’s lunar nuclear power plant project

By

India has shown interest in joining Russia’s ambitious lunar nuclear power plant initiative, which aims to establish a base on the Moon in collaboration with China, according to reports from EurAsian Times and Russia’s state-owned agency Tass. Spearheaded by Rosatom, the project will develop a small nuclear power plant with a capacity of up to half a megawatt to power the lunar base’s operations. Rosatom chief Alexey Likhachev confirmed India’s and China’s interest in the…