Throwback Thursday

Back at the beginning of 2007, the global power sector was taking notice of Russia’s endeavours in growing its power capacity. RAO UES (Unified Energy System of Russia), the then dominant player in the domestic energy sector was putting forward an ambitious programme of investment to drive more power generation. You can read all about that here in 1/3/2007 magazine issue of PEi.

That entity (RAO UES) has since been split up but Russia’s power sector has been very prominent on world news media in recent weeks once again, following the annexation of the Crimea by Vladimir Putin’s government.

Fast forward seven years later to the present.

Europe in particular is concerned with the implications of the Russian action with US and EU threats to sanction the Russian government also threatening power generation projects as well as causing uncertainty in terms of gas supplies.

Siemens and GE have moved to protect their interests as featured in this report “Siemens committed to Russian power business despite sanction threat” while the UK Foreign Secretary has urged “EU to reduce dependency on Russian gas”.

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