Shah Deniz Consortium Gives Up Nabucco West
The Shah Deniz II consortium has suggested that it has chosen not to use Nabucco West for the transportation of natural gas from Azerbaijan's most promising field to Europe.
If this decision is formally confirmed and carried out, it will cast significant doubt over the protracted Nabucco project, designed to build a pipeline to transport Azeri gas to Europe.
The Shah Deniz consortium had to decide between Nabucco West and the Trans-Adriatic Pipeline (TAP).
The Nabucco project would have shipped Azeri gas from Turkey through Bulgaria, Romania, Hungary on to Austria, which has made Bulgaria a country highly committed to it.
On the other hand, TAP would transport natural gas directly westwards through Greece, Albania on to southern Italy.
The Shah Deniz consortium has informed Greek PM Antonis Samaras, as well as Nabucco shareholder OMV of its intention to choose TAP.
Shah Deniz II is operated by BP, together with Statoil, SOCAR, Total, Lukoil, NIOC and TPAO.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Bulgaria's Nuclear Regulatory Agency Approves Westinghouse Nuclear Fuel for Kozloduy NPP
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
Bulgargaz Anticipates Liquefied Gas Deliveries via Alexandroupolis Terminal In May
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
Greek Electricity Giant Acquires Bulgarian Solar Parks
The Greek national electricity company, PPC, has announced plans to acquire 500 megawatts of photovoltaic capacity in Bulgaria
Oil Prices Surge Amid Middle East Tensions
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
Bulgargaz Loses 27% Market Share Due to Contract with 'Botas
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"
Bulgaria Sees Surge in Solar Power and Coal Plant Decline in 2023 Electricity Report
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