Oil Prices Hit 5-Month Highs
In the oil market, the upward trend continues at the beginning of the new week, with prices rising to nearly 5-month highs due to increasing geopolitical risks related to supply disruptions
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
Russian energy giant "Gazprom" announced that it has signed a protocol with the Turkish government to build a road section of the gas pipeline "Turkish Stream".
The signed protocol is the basis for the beginning of the construction of a land section of the gas pipeline on Turkish territory, according to BGS.
The "Turkish Stream" should start from the east coast of the Black Sea, along the seabed to northwest Turkey and then continue on the land route. The initial plan was for four pipes - two of them only for Turkey and two- from the Balkans to Europe. On October 10th, 2016 a contract for a pipeline was signed for Turkey with a capacity of 15.75 billion cubic meters per year, with the combined capacity of the second pipe reaching 31 billion cubic meters. It is foreseeable the possibility of expanding to four pipes with a total omission of 63 billion cubic meters of gas per year - as planned for South Stream.
Until now, Ankara has postponed the issuing of an order for construction of the pipeline's ground route because of the dispute over the price of Russian gas imported to Turkey.
Gazprom's announcement came after Turkish President Recep Tayyip Erdogan said Ankara and Moscow had reached an agreement to adjust the price of allotted Russian gas for 2015 and 2016, with which Russia would return $ 1 billion to Turkey.
"After long talks, an agreement has been reached to a price adjustment of 10.25% for distributions in 2015 and 2016 gas. The difference in the amount paid for two years, which is $ 1 billion will be returned to Turkey," Erdogan said.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Bulgaria is on track to meet the inflation benchmark required for Eurozone membership by September
LinkedIn, the go-to platform for job seekers worldwide, is considering incorporating gaming elements into its services. In a move aimed at enhancing user engagement
Today, just before 8 a.m., the mortal remains of Bulgarian Patriarch Neophyte were laid out for veneration at Patriarchal Cathedral "St. Alexander Nevsky"
Are you looking for inspiration for your next travels? Or perhaps a journey to the most interesting places you see in your favourite movies?
The Bulgarian Parliament has ratified the Agreement between the Government of the Republic of Bulgaria and the Government of the United States on cooperation regarding the construction of nuclear power at the Kozloduy Nuclear Power Plant
Among the many assignments for college students, one of the most popular is an academic paper.
Norwegian Inspiration: Bulgaria's Move Towards Environmentally Friendly Prisons
Nexo Is Suing Bulgaria For Over $3 Billion