Greece announces new round of subsidies on household electricity bills
Greece announced on Friday a new round in subsidizing electricity bills to assist households struggling with the rising costs of electricity in December. Greece spent almost 10 billion euros ($10.58billion) on power bill subsidies to households and businesses between 2021 and 23. This is the largest amount of subsidies that an EU country had ever paid as a percentage of its GDP.
TurkStream Gas Pipeline Launched
The Presidents of Russia and Turkey, Vladimir Putin and Recep Tayyip Erdogan, respectively, officially launched the TurkStream natural gas pipeline designed to ship Russian gas to Turkey and markets in southeastern Europe.TurkStream, which is laid in the Black Sea, is a link between the gas transmission systems of Russia and Turkey. The gas pipeline has two strings with a combined throughput capacity of 31.5 billion cubic meters.
TurkStream Gas Conduit Offshore Section Complete
The pipe-laying vessel Pioneering Spirit pipelaying vessel completed the construction of the offshore section of the TurkStream gas pipeline in the Black Sea. The TurkStream pipeline will carry Russian gas across the Black Sea to Turkey.The command to weld the final joint of the gas pipeline’s second string was given by Vladimir Putin, President of the Russian Federation, and Recep Tayyip Erdogan…
Croatia Extends Bidding Deadline Again for Adriatic LNG Terminal
Croatia has again extended a deadline for submitting binding bids for the use of a planned floating liquefied natural gas (LNG) terminal in the northern Adriatic."The deadline has been moved from Sept. 28 to Dec. 20 this year," state-owned LNG Croatia said in a statement on its website on Thursday.The decision was taken after a request from potential bidders, it added.The first…
NIS to Spend $2.2 Bln to Boost Production
Serbian oil company NIS plans to invest $2.2 billion in its operations by 2025 and increase production to secure a leading position in south-east Europe. Russia's Gazprom Neft owns 56.15 percent of NIS, the Serbian government 29.88 percent and small shareholders the remainder of the company. NIS said on Friday that its development plan to 2025 forecasts a rise in earnings before interest…
Gastrade Signs LNG Deal with State-owned DEPA
Greece's state controlled natural gas firm DEPA signed a cooperation agreement on Thursday with natural gas company Gastrade to participate in the development of a liquified natural gas terminal in northern Greece, DEPA said. Greece currently has one LNG terminal on an islet off Athens. Gastrade, part of Greek energy group Copelouzos, is planning a second LNG terminal near the northern city of Alexandroupolis.
Bulgaria, Greece, Romania and Hungary to Link Gas Grids
Gas companies from Bulgaria, Greece, Romania and Hungary agreed to link their gas networks to increase security of supplies in southeastern Europe, the Bulgarian energy ministry said. Grid operators Bulgartransgaz, DESFA, FGSZ and Transgaz as well as Greek-Bulgarian ICGB signed a memorandum of understanding for the project in Bucharest on Wednesday. "The parties agree that the memorandum will be a basis for future cooperation....
Serbia Should Rework Gazprom Gas Deal
Serbia should renegotiate its long-term gas supply deal with Russia's Gazprom to align it with European gas market rules, a body in charge of extending the EU's energy policy to would-be member states said on Monday. In 2011 Serbia agreed to a 10-year deal to import natural gas from Gazprom at a discounted price under which Gazprom will deliver 5 billion cubic meters (bcm) of gas per year to Serbia, or more than double its current annual needs.
Bulgaria, Greece to Consider Greek LNG terminal
Bulgarian state energy holding company BEH and Greek natural gas company Gastrade have set up a joint task force to prepare a proposal to build an off-shore liquefied natural gas (LNG) terminal in northern Greece, Gastrade said on Tuesday. Greece currently has one LNG terminal on an islet off Athens and Gastrade, part of Greek energy group Copelouzos, is planning a second LNG terminal near the northern city of Alexandroupolis.
Nord Stream 2 Backers Must Explain Project Better
The consortium behind the proposed Nord Stream 2 expansion that would boost Russian gas supplies to Europe needs to do a better job easing fears the project will dent the region's energy security, a member of the consortium said on Wednesday. In September, Gazprom formed a consortium with E.ON, BASF/Wintershall, OMV, ENGIE and Royal Dutch Shell for Nordstream-2, which could see Russia bypass Ukraine as a transit route from 2019.
EU to Curb Russian Gas Dependency with Better Grid
Funding especially targeted at central, eastern Europe; British-French grid link also gets money. BRUSSELS, Jan 19 (Reuters) - EU member states on Tuesday endorsed a plan to invest more than 200 million euros ($217 million) in cross-border energy infrastructure projects designed to help curb dependence on Russian gas. The European Commission is seeking to improve power and gas…
Russia Stuck with Abandoned Gas Pipes Worth Billions
Gas pipes worth 1.8 billion euros ($1.95 billion) are to be left stranded on the shores of the Black Sea after Russia's decision to suspend work on the Turkish Stream pipeline, a potent symbol of Moscow's falling out with Ankara. Russia has set out to punish Turkey after it shot down a Russian warplane in Syria last week, imposing trade sanctions and releasing data it claims proves Turkish President Tayyip Erdogan is involved in illegal oil deals with Islamic State.
Cheniere LNG Could Dent Russian Gas Dominance in SE Europe
Cheniere Energy Inc plans to deliver liquefied natural gas (LNG) to central and southeastern Europe within a few years, a move that with U.S. supplies would loosen Russia's energy grip on the region, sources told Reuters. The Houston-based LNG specialist, which is gearing up to launch western European operations this year, is eyeing an eastern expansion, said six sources close to either Cheniere or governments and companies in the region.
Russia, Serbia Address Cooperation in Energy Sector
At a meeting hosted in Belgrade today between Alexey Miller, Chairman of the Gazprom Management Committee and Aleksandar Vucic, Prime Minister of the Republic of Serbia issues of the bilateral cooperation in the energy sector were deliberated upon. Special consideration was given to Russian pipeline gas supplies to Serbia as well as to the joint projects in the gas sector. In 2014 Gazprom supplied Serbia with nearly 1.5 billion cubic meters of natural gas.
EU: No Date for Ukraine-Russia Gas Talks
The European Union has yet to receive confirmation that Ukraine and Russia will meet on March 20 to discuss gas supplies, the bloc's Energy Commissioner Maros Sefcovic said on Friday. Speaking to Reuters at a meeting of foreign ministers in the Slovak mountain resort of Strbske Pleso, Sefcovic said it had been agreed previously that a meeting should take place before the current "winter package" expires at the end of March.
Ankara Stalling Russian Hopes on 'Turkish Stream' Gas Plan
Turkish concern about too much dependence on Russian energy and an upcoming election mean Russia's plans for a new gas pipeline to southeastern Europe are unlikely to advance as quickly as Moscow might like, Turkish energy officials said on Wednesday. Facing objections from the European Union, Russia in December abandoned its $40 billion South Stream project which would have…
Wind Supply Gains on Day-Ahead Prices
Central and southeastern Europe day-ahead power fell on Tuesday due to a strong gain in wind supply in the region, and Hungarian and Romanian spot prices remained at a large regional premium due to reduced import capacity, traders said. On regional exchanges, electricity for Wednesday fell 16 percent to 28.80 euros ($33) per megawatt hour in the Czech Republic, declined 1 percent to 35.67 euros in Slovakia…
EU Energy Chief Heads to Moscow to Discuss Energy Security
The European Commission backs Bulgaria's plans to build a gas hub to help it compensate for the loss of Russia's South Stream pipeline, and will raise the issue at talks in Moscow on energy security on Wednesday, the EU's energy boss said. Gazprom's announcement in December that it was scrapping the South Stream project to pump natural gas to the European Union was a particular blow to Bulgaria, which relies heavily on Russian gas.
Poland Raises German Gas Link Capacity
Poland has more than doubled the capacity of a link able to carry gas from the West in its drive to diversify supplies and reduce dependence on its main supplier Russia, Polish gas operator Gaz-System said on Wednesday. Eastern Europe's biggest economy opened its first gas link from the West in April capable of transporting supplies from Germany to help guard against potential cuts of Russian deliveries as the crisis in Ukraine esclated.
OMV Shrugs off South Stream Cancellation
Austrian energy group OMV's chief executive played down on Tuesday the importance of Russia's apparent cancelling of the South Stream gas pipeline project, saying investments in the Black Sea played a much bigger role for the company. Extending South Stream to Austria as agreed this year would have cost OMV around 100 million euros ($125 million) over three years, compared with…
