European Parliament Passes Law to Restrict Cash Payments to €10,000
The European Parliament has voted to impose a €10,000 limit on cash payments within the European Union
The Russian Ministry of Energy and state-run gas giant Gazprom will present the South Stream gas pipeline project at the EU headquarters in Brussels Wednesday.
With this presentation, Russia aims to win the status of a trans-European gas transmission network for South Stream, thereby allowing it to go beyond the competences of European and national regulatory bodies.
South Stream, a 900-km gas pipeline project for carrying Russian natural gas through the Black Sea to Bulgaria and further to Italy and Austria, is considered a rival to the EU-backed Nabucco gas pipeline.
According to Russian Energy Minister Sergey Shmatko, Russia will insist on granting Nabucco and South Stream equal privileges by treating both pipeline projects as projects of European importance.
In fact, the EU has already granted such an exclusive status to the Nabucco pipeline, which, however, has reached a standstill over the failure to secure sufficient gas supplies.
South Stream is planned to start near Novorosiysk on the Russian Black Sea coast, crossing Bulgaria's city of Varna on its way.
In Bulgaria, the pipe is supposed to split in two - one pipeline going to Greece and Southern Italy, and another one going to Austria and Northern Italy through Serbia, Croatia and Slovenia.
The offshore section of South Stream is planned to carry 63 billion cubic meters (bcm) of natural gas per year.
South Stream's branch running from Bulgaria through Serbia was negotiated between Russia and Serbia on January 25, 2008.
The future gas pipeline aims to partially replace the planned extension of Blue Stream from Turkey through Bulgaria and Serbia to Hungary and Austria.
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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
Oil prices have surged due to renewed concerns about the Middle East conflict. Brent crude futures increased by 0.32% to 90.80 USD per barrel, while American WTI crude rose by 0.3% to 86.50 USD per barrel
Bulgaria's state-owned energy company, "Bulgargaz," has suffered a significant setback, losing 27% of its market share as a result of a contract with the Turkish company "Botas"
A remarkable shift in Bulgaria's energy landscape has been unveiled in the latest report from the Commission for Energy and Water Regulation, submitted to the Bulgarian parliament
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
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