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The Nabucco gas pipeline project to pump natural gas from Central Asia to Europe transiting Bulgaria has been removed from a European Union list of priority projects.
The EU had initially planned to allocate EUR 250 M to finance the project, but later the funds were cut to EUR 50 M, Russian news agency Novosti reported Tuesday.
The USD 10 B Nabucco pipeline, backed by the European Union and the US, is intended to link energy-rich Central Asia to Europe through Azerbaijan, Georgia, Turkey, Bulgaria, Romania, Hungary and Austria, bypassing Russia and Ukraine. Construction has been tentatively scheduled to begin in 2010.
The Nabucco project is seen as a rival to Russia's South Stream gas pipeline designed to annually pump 31 billion cubic meters of Central Asian and Russian gas to the Balkans and on to other European countries. The project involves Bulgaria, Serbia, Hungary, Italy and Greece.
Russia's transit disputes with its former Soviet neighbors have raised concerns in Europe about too much energy dependence on Russia.
Russia cut off gas supplies to Ukraine on January 1 after failing to reach a deal over debt and prices for 2009 in late December, and later halted gas deliveries to Europe, saying Ukraine was stealing transit gas.
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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
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