Gazprom Faces $13.1 Billion Loss Amid EU Energy Exports Decline
Russian energy giant Gazprom has faced a significant financial blow in 2024, recording net losses of 1.076 trillion rubles
Bulgarian Parliament Speaker Mihail Mikov argued Prime Minister Oresharski had been misinterpreted when speaking about South Stream.
Mikov told the Bulgarian National Radio the construction of the pipeline had not been halted. He added that Plamen Oresharski could not have stopped the project, as he does not possess the competences to do so with a private company like South Stream.
"South Stream is a joint venture of the Bulgarian Energy Holding and Gazprom. If it works in compliance with the law, it is performing its duties, all the rest is political talk. I don't see how in a state ruled by the law [such projects] could be stopped with a mere statement," Mikov explained.
Mikov's comments come days after Oresharski announced Sunday Bulgaria was to freeze the South Stream pipeline project until it meets EU norms. He announced the decision after the EU Commission launched an infringement procedure against Bulgaria earlier during the week, citing irregularities around the project.
The Parliament Speaker nevertheless said he did not think an infringement procedure targeting Sofia was under way.
He also denied that any violations could have taken place.
More details around the project are expected later this week after Deputy Prime Minister Daniela Bobeva surprisingly announced Oresharski was to reveal "everything" about South Stream while in Parliament on Friday.
Bulgaria has taken a significant step toward exploring its deep-sea energy potential
The two nuclear reactors from Bulgaria's Belene Nuclear Power Plant will not be sold to Ukraine
A contract for the exploration and extraction of oil and natural gas in Block 1-26 Khan Tervel, located within Bulgaria’s exclusive economic zone in the Black Sea, is being officially signed today
Bulgaria is exploring the possibility of leveraging its nuclear power capabilities to attract the IT sector, particularly in the field of artificial intelligence (AI) and data centers
Bulgaria is intensifying efforts to enhance regional energy security through the development of strategic infrastructure aimed at reducing dependence on Russian gas
The final shipment of Russian nuclear fuel for Bulgaria's Kozloduy Nuclear Power Plant has arrived
Google Street View Cars Return to Bulgaria for Major Mapping Update
Housing Prices Soar in Bulgaria’s Major Cities as Demand and Supply Strain Increase