Bulgaria Warned: Gasoline Could Hit €1.50 if Oil Reaches 100 Dollars per Barrel
In Bulgaria, fuel industry experts warn that if oil prices reach USD 100 per barrel, gasoline at the pump could exceed €1.50 per liter.
Greece Plans Extra LNG Imports in Case of Cut in Russian Gas Supplies
- Tweet
Send to Kindle
Source: depa.gr
Greece is in talks over extra imports of liquefied natural gas from Algeria to avert possible shortages in case of a cut in Russian gas supplies, a senior Greek official has said.
According to the Oxford Institute of Energy Studies, in 2009, when Russia halted gas deliveries to much of Europe through pipelines transiting Ukraine in a price dispute with the Ukrainian government, Greece was able to buy liquefied natural gas (LNG) to make up for the shortfall as well as supply gas to its northern neighbour Bulgaria.
A dispute between Russia and Ukraine over gas prices and unpaid debt for past deliveries is threatening to leave much of central and eastern Europe with little or no Russian gas supplies transiting Ukraine this winter in a repeat of the gas crises of 2006 and 2009 caused by similar disagreements, the European Commission has said.
Preparing for a potential new disruption in Russian gas supplies this winter, Greece’s state-owned gas company DEPA may have to pay USD 150-200 million for additional cargoes of Algerian LNG in December and January, Bloomberg quoted DEPA’s Chairman George Spanoudis as saying earlier this month in London.
“We are preparing for a short crisis, hoping that the crisis will not take place,” Spanoudis has said. “The Algerian contract can be extended through discussions we are having as well, to supply extra vessels of LNG.”
Russia’s Gazprom supplies two-thirds of the natural gas Greece consumes. Unlike Greece, which according to the country’s Energy Minister Yiannis Maniatis is among the best prepared EU member states for a possible disruption of Russian gas supplies in the winter, Bulgaria, which relies on deliveries of Russian gas via a single pipeline via Ukraine to meet nearly 90% of its gas needs, is much more vulnerable to a disruption.
According to Spanoudis, a final investment decision on the construction of an interconnector linking Greece and Bulgaria is expected to be made by the end of the year. The link that would help offset the impact of possible cuts in Russian gas flowing through Ukraine, is projected to carry up to five billion cubic metres of gas a year and become operational in 2017.
The interconnector will link the natural gas network in Komotini, in northern Greece, with the Bulgarian gas ring in Stara Zagora through a 170km pipeline.
Related Articles:
Bulgaria Friday Forecast: Sunshine in the West, Clouds and Light Rain in the East
On Friday, March 6, Bulgaria will experience varying weather across its regions. In the eastern part of the country, skies will remain mostly cloudy, with light rain possible in some areas during the afternoon
Ukraine Offers Drone Interceptors to Gulf States as Cheaper Shield Against Iranian Shaheds
The Pentagon and several Gulf nations are exploring the acquisition of Ukrainian-made drone interceptors to counter Iranian Shahed drones, according to sources from Ukraine’s defense industry.
Only in Bulgaria: Children’s Fractures Treated with Pizza Cardboard
In Razlog, medical staff faced two unusual cases within a single week, where broken limbs of young children were immobilized using cardboard instead of proper splints.
Tour Operators Allege Preferential Evacuations from Dubai as Bulgarians Remain Stranded
The Association of Tour Operators and Travel Agents “Future for Tourism” (OBT) has urged the authorities to ensure equal treatment of Bulgarian citizens awaiting evacuation from Dubai
Google Street View Cars Return to Bulgaria, Covering 20,000 km Across Cities and Roads
Google Street View cars are back on Bulgarian roads, starting a new mapping tour that will span from March 5 until the end of October.
Society | March 5, 2026, Thursday // 15:48
Iran Denies Firing Missile at Turkey After NATO Intercepts Threat Over Mediterranean
Iran’s military has officially denied launching a missile toward Turkey, following reports that NATO forces intercepted a ballistic missile over the eastern Mediterranean
Erdogan Vows Swift Response After NATO Intercepts Iranian Missile Over Turkey
Yesterday, a ballistic missile fired from Iran over Iraqi and Syrian airspace was intercepted by NATO air defense systems before entering Turkish territory
Turkey Clarifies Missile from Iran Was Not Targeting Its Territory
Turkish officials have clarified that the missile fired from Iran, which was intercepted by NATO air defense systems in the eastern Mediterranean, was not aimed at Turkey
Turkey Just Shot Down an Iranian Missile - How Close Are We to a NATO War?
Turkey’s Ministry of National Defense reported on Wednesday that NATO air and missile defense systems deployed in the Eastern Mediterranean successfully intercepted an Iranian ballistic missile that was detected heading toward Turkish airspace
Middle East War Sparks Balkan Security Measures: Bulgaria, Greece, Turkey Prepare for Evacuations
The recent escalation in the Middle East has prompted heightened alert across the Balkans, with governments convening emergency security meetings, reinforcing protection at sensitive sites, issuing travel warnings, and activating evacuation procedures
Greece to Exhume 150 COVID-19 Graves After Bodies Remain Undecomposed Five Years Later
The municipal authorities in Kavala, northern Greece, are set to exhume roughly 150 graves of individuals who died from COVID-19 after it was discovered that the bodies had not decomposed even five years after burial.
