The Week’s Energy News – 09/12/2016
This week’s energy news covers an acquisition and a host of renewable energy stories. Drax buys Opus Energy ...Read More
Leaders from Azerbaijan, Turkey, Turkmenistan and the European Union met recently in Ashgabat, the Turkmen capital, to stress their commitment to constructing the Trans-Caspian Pipeline (TCP) to transport Turkmen gas to Europe.
Reuters quoted the European Commission vice president in charge of the energy union initiative, Marcos Sefcovic, as saying after the meetings that: “Europe expects supplies of Turkmen gas to begin by 2019.”
Indeed, the Ashgabat Declaration outlined the next steps toward direct Turken gas for Europe, although schedules and specifics were not included in the document. Nevertheless, both Europe and Turkmenistan would benefit from closer cooperation: Europe wants to lessen its reliance on Russian, especially in the wake of continuing instability in Ukraine, and Turkmenistan wants to diversify its gas customers beyond Russia and China.
For UK small businesses, the prospect of cheaper gas is certainly attractive. However, with more than four years to wait, smaller UK businesses should carefully consider the deal offered by their current gas supplier. Many are still paying far too much – business energy bills can often be cut by hundreds or even thousands of pounds.
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