Europe Natural Gas Prices Surge to EUR 29/MWh Following Russian Attack on Ukrainian Facility
Natural gas prices in Europe experienced a significant spike, surpassing 2% to reach 29 euros per megawatt-hour (MWh) on Monday
Russia and Bulgaria will create a joint company for the execution of the South Stream gas pipeline project, announced Bulgarian energy minister Traicho Traikov Friday after negotiations with a Russian delegation headed by his Russian counterpart Sergey Shmatko.
The details have not been arranged yet during Friday's negotiations in the Bulgarian Black Sea city of Varna. Talks are set to continue Saturday, announced Traikov.
The deadline for the creation of the joint company is February 2011, according to the Bulgarian minister. The South Stream “Road Map”, which is yet to be signed, is going to include other deadlines and specific steps of the project.
Traikov also announced that the Bulgarian stretch of South Stream is going to cost USD 835 M. The entry point of the pipe is going to be near Varna, while the exact route and the infrastructure parameters are yet to be determined, added he.
Regarding negotiations on delivery of Russian gas to Bulgaria, Traikov said that there are “opportunities for understanding from the Russian side” regarding lower prices, but again said no specific conclusions were achieved. He nevertheless commented negotiations are progressing “well”.
Traikov further commented that while the Russian position is that other European countries are receiving gas at the same prices as Bulgaria, they have opportunities for deliveries of gas not only from Russia. He implied that since almost all of Bulgarian gas comes from Russia, Bulgaria will request lower prices.
Traikov was optimistic a solution to the issue will be achieved before expiry of current contracts (2010-2011).
He was ambiguous when asked whether Bulgaria would sign the South Stream Road Map if it doesn't get a lowering of gas prices.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
The Kozloduy Nuclear Power Plant (NPP) in Bulgaria is set to embark on a significant transition as it begins the process of replacing Russian nuclear fuel with American fuel from Westinghouse
Bulgargaz, the leading public gas supplier in Bulgaria, anticipates a notable decrease in the price of natural gas for the upcoming month of May. According to Lyudmila Vitanova
Eurostat's latest findings have shed light on the shifting landscape of household energy prices in the European Union, with Bulgaria emerging as a frontrunner in affordability.
The Nuclear Regulatory Agency (NRA) has greenlit the phased transition to a new type of nuclear fuel for Unit 5 of Kozloduy Nuclear Power Plant (NPP), manufactured by Westinghouse
In a bid to enhance its energy security and diversify its gas supply sources, Bulgargaz is gearing up for the first deliveries of liquefied gas through the Alexandroupolis terminal, set to commence in May
The Greek national electricity company, PPC, has announced plans to acquire 500 megawatts of photovoltaic capacity in Bulgaria
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022