2024: Key trends in energy development in Central and Eastern Europe

In 2024, several significant events shaped the global energy landscape: the June EU elections, the US elections, and the Draghi report will affect energy not only globally, but also locally. So what shaped energy in Central and Eastern Europe over the past year?

Revival of nuclear energy and small modular reactors

As reported by CEEnergyNews, nuclear energy became a key issue in Central and Eastern Europe in 2024, also thanks to progress in small modular reactors (SMRs). Czechia reinforced its nuclear ambitions by selecting Korea Hydro & Nuclear Power (KHNP) to complete the Dukovany site. ČEZ has also begun preparatory work for the construction of SMRs.

In Bulgaria, the Kozloduy nuclear power plant is set to be expanded under an intergovernmental agreement between the local government and the US, with US-based Westinghouse supplying the technology. Poland's first nuclear power plant advanced thanks to substantial funding from Export Development Canada, while Romania progressed with nuclear projects involving Nuclearelectrica and RoPower Nuclear. In Serbia, meanwhile, a historic decision was made to lift the 35-year ban on the use of nuclear energy.

Expansion of LNG infrastructure

Liquefied natural gas (LNG) reinforced its role in the energy security of Central and Eastern Europe. Greece's Alexandroupolis LNG terminal began operations, while Poland progressed with its floating terminal project in Gdańsk Bay. Agreements with Qatar, Shell and TotalEnergies secured long-term LNG supplies for Hungary, despite uncertainty over US export policy following the elections. Poland also strengthened its position through exploration and cooperation on new gas pipelines.

Growth of renewable energy sources

Renewable energy sources continued to expand in 2024. Romania adopted legislation for offshore wind farms, and OMV Petrom acquired a significant portfolio of solar power plants. Offshore wind projects advanced in Poland and the Baltic states, while biomethane also developed as a substitute for natural gas. Hungary focused its strategy on geothermal energy.

Hydrogen as one of the pillars of decarbonisation

Although the development of hydrogen and its infrastructure is still in its early stages, the region saw approval for several key projects, such as the Nordic-Baltic Hydrogen Corridor and the construction of Central and Eastern Europe's largest renewable hydrogen production plant in Hungary.