PGNiG signed a multi-year contract with Ørsted for the sale and purchase of natural gas. The company continues to grow and strengthens its position in Northern Europe and particularly in the Danish market which will be linked to Norway and Poland via the Baltic Pipe.
With domestic production falling, Europe is increasingly more dependent on natural gas imports. Norway is the Northern source, Russia still detains a big piece of the East and new routes from the South represent the highest hope of diversification.
MVM Group acquired 100 % ownership of the Hungarian subsidiary of the German energy company Enexio, together with its two Chinese subsidiaries, aiming to become an active player in the Chinese energy market.
Investments in RES in the EU reached 66% in the first half of 2020. Hungary is stepping up green bond issuance to mobilise additional funds and the Caucasus in interested in increasing its share of RES. However, funds must support the right priorities.
Sonya Twohig has been appointed the new Secretary-General of ENTSO-E, the European Network of Transmission System Operators for Electricity.