IES Commentaries

Natural gas demand decline in the Baltic countries in 2023

The Baltic countries have recorded another consecutive year of declining natural gas demand in 2023. Initially, such a situation was related to the COVID-19 pandemic and high commodity prices on exchanges in Europe (the result of price manipulation by Russia in 2021 and then the Russian-Ukrainian war in 2022). It is now expected that the projected economic growth in 2024 and the...

Crude oil terminals in Central European countries in the era of the shift away from Russian commodities

There are six crude oil terminals in the Central European countries of the European Union, supplying a total of sixteen refineries, several of which are located outside the EU. Due to the ongoing Russian-Ukrainian war, these terminals have been unloading tankers from countries that have not previously supplied crude oil to these refineries, or if they have, sporadically, in 2023....

Moldova is on the road to the EU. What about Transnistria?

Transnistria will pose a significant challenge in the process of the Republic of Moldova’s accession to the European Union. Until now, the issue has been relegated to the background. There have also been numerous suggestions that Moldova could join the EU without the separatist republic. In reality, however, these propositions should be regarded as part of a political game over...

LNG terminals in Central Europe: importance and operation

There are several LNG regasification terminals in Central European countries, aimed at securing natural gas supplies from various directions. In the context of the outbreak of the Russian-Ukrainian war, the importance of these terminals has definitely increased. At present, they are a key tool in efforts to diversify the sources and directions of natural gas supplies, especially...

Airspace violations in Central and Eastern European countries in the context of the war in Ukraine

Due to the outbreak of a full-scale conflict between Russia and Ukraine, there have been several incidents involving air and missile threats, as well as air defence systems in the airspace of Central and Eastern European countries (CEEC). Certainly, some of these incidents have been intentional provocations by Russia against NATO, Ukraine or Moldova, aimed at pursuing a specific...

Natural gas and crude oil markets in Central European countries in 2023

Central European countries in 2023 were taking active steps to strengthen energy security, which was a difficult process. A key strategic objective was to reduce dependence on hydrocarbons supplies from the Russian Federation by initiating new investments and continuing those already underway. Importantly, there are still countries on the continent that cooperate with Russia in...

Northern Macedonia expands natural gas supply infrastructure

Year 2023: The State of the Central European Economies

In 2023, five Central European economies (Estonia, Lithuania, Hungary, Latvia, and the Czech Republic) are expected to end the year in a state of recession, while four (Hungary, Czech Republic, Poland, and Slovakia) are facing double-digit average annual inflation. Furthermore, as many as seven countries in the region are projected to record budget deficits exceeding 3% of GDP....

Nothing New in the East? Consequences of the Slowdown of the Ukrainian Counteroffensive

The lack of success in the counteroffensive has sparked a lively debate in Ukraine regarding the situation on the front and the overall state of the country. The prolonged war of attrition is advantageous for the Russian Federation, which has the necessary resources to continue its aggression. Russia counts on weakening Kyiv as well as tiring its allies and reducing the scale of...

Impact of Russian-Ukrainian war on crude oil supplies to Bulgaria and Romania

The Russian-Ukrainian war has reoriented the refining sector in the Central European region, including Bulgaria and Romania. The crude oil processing plants operating in these countries had for years imported a large amount of crude oil from the Russian Federation. The change in international conditions has contributed to the activation of efforts to diversify crude oil supply...