Gazprom's First Annual Loss in Decades Leads to Sale of Holiday Properties
Gazprom, Russia’s state-owned energy giant, has announced plans to sell several of its holiday resorts following its first annual loss in nearly 50 years
The European Commission says its probe into anti-competitive practices by Russian energy giant Gazprom in Central and Eastern Europe includes the company's activity in Bulgaria.
Last week, Gazprom and Bulgaria's National Energy Holding have come to an agreement on important construction and technological details of the Bulgarian section of the South Stream gas pipeline.
As EUobserver has pointed out, South Stream is Russia's answer to Nabucco, an EU-backed pipeline scheme to end Russia's monopoly on Caspian-Sea-region exports and increase the diversification of gas supplies.
On Wednesday, the European Commission's energy spokeswoman, Marlene Holzner told a briefing in Brussels that if the Bulgarian deal violates EU law the commission can launch "infringement proceedings" to get it changed.
Gazprom's activity in the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland and Slovakia will be also probed, Commission spokesman Antoine Colombani revealed during the same briefing.
"This is an investigation into a company [Gazprom] and its relations with other companies ... We do not deal with member states directly," Colombani noted, as cited by EUobserver.
Azerbaijan has temporarily suspended natural gas supplies to Bulgaria
KazMunayGas, the state-owned oil company of Kazakhstan, is reportedly taking part in a tender to acquire the Bulgarian-based refinery of Russian oil giant Lukoil
Residents of Lovech region staged a second protest over the extended electricity crisis that disrupted their holidays
At a closed session, the Energy and Water Regulatory Commission (EWRC) approved an average increase of 8.42% in electricity prices for household consumers
Starting January 1, 2025, new prices for gas distribution and supply will come into effect for customers of Overgas Networks
The power outage in various regions of Bulgaria has led to serious concerns and protests from local residents
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