Eurogroup Confirms Bulgaria’s Entry Into the European Stability Mechanism
The Eurogroup meeting concluded with an official decision that clears Bulgaria to join the European Stability Mechanism
Bulgaria is about to start construction a natural gas interconnection with Romania in a few weeks, according to Bulgarian Economy, Energy, and Tourism Minister Traicho Traikov.
The building of the Bulgarian-Greek gas interconnection will be started in the third quarter of 2012, Traikov told BTA Sunday.
Bulgaria moved to link its natural gas grid to that of its neighbors after the January 2009 gas war between Russia and Ukraine, which cut off the Russian gas supplies to Bulgaria for full three weeks leaving it without natural gas in the middle of the winter. The gas crisis of 2009 exposed Bulgaria's almost 100% dependence on Russian natural gas.
Bulgaria's Energy Minister further explained he expected to sign a memorandum with Turkey's Ministry of Energy and Natural Resources, which will cement Turkey's political commitment to the project for a Bulgarian-Turkish gas interconnection.
He said Bulgaria will probe the opportunities for EU funding for the gas link to Turkey, at least with respect to the part of the future pipe that will be located on a Bulgarian territory.
Traikov reminded that the European Commission has already approved EUR 9 M in co-funding for the Bulgaria-Romania gas interconnection, and EUR 45 M for the Bulgaria-Greece gas interconnection, and another EUR 2.5 M for the feasibility study and application form for the Bulgaria-Serbia gas interconnection.
In February 2011, the European Council decided that each EU member state should have at least two sources of natural gas and electricity by 2014 in order to avoid a repetition of the Russian-Ukrainian gas crisis.
A new contract tied to the future construction of Kozloduy NPP’s seventh and eighth units was signed at the Council of Ministers between Kozloduy NPP–New Power Plants and the LEP-BWXT-CNPSA consortium
The Energy and Water Regulatory Commission has set the price of natural gas for December at 63.01 BGN per MWh, equivalent to 32.22 EUR per MWh
The Municipality of Gotse Delchev has approved one of the largest infrastructure projects in the region, granting unanimous consent to a cooperation agreement with the Swiss company
Turkey’s state-run energy company Botas reported a record loss of USD 1 billion (around 1.85 billion BGN) in 2024
Dimitar Georgiev, a Bulgarian financier and international markets analyst, stated that he does not anticipate any further increase in fuel prices in the country
Vladislav Panev, from the “Acceleration” Club and a former MP with the “Green Movement,” described the appointment of Rumen Spetsov as a special manager of Lukoil Bulgaria as surprising
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