Latest news

Russian project will lack EU financing in consequence of US sanctions

The Austrian OMV CEO stated that US sanctions will have a serious impact on big Russian projects. OMV is one of the investors in the Nord Stream-2 trans-Baltic gas pipeline project.

read more... 14/09/2017


Cyprus: New gas discovery offshore considered non-profitable

Eni and Total have found gas while drilling offshore Cyprus near the giant Zohr gas field discovery in Egypt waters, but the anticipated quantity of the recently discovered field is too small to develop on its own, as stated by Cypriot Energy Minister Yiorgos Lakkotrypis on Tuesday.

read more... 13/09/2017


Russia: Q2 net income of Gazprom falls by 80% year-on-year, forecast missed

Russia’s Gazprom declared recently that the net income for the second quarter fell lower than expected compared to the same period of 2016, or by over 80% to 48 billion roubles ($817.3 million), because of losses related to foreign exchange rates. The forecasted amount earnings for second quarter was 50.2 billion roubles.

read more... 30/08/2017


Shell considers buying Israeli and Cyprus gas, Mediterranean region to become major gas hub

Royal Dutch Shell Plc is planning to introduce Israeli and Cyprus gas to the market, a move that could transform the Mediterranean area into a leading gas-producing region.

read more... 22/08/2017


Russia is ready to provide gas to Greece and Bulgaria

The Russian energy minister Alexander Novak said that Russia is ready to provide gas from the TurkStream pipeline to both Greece and Bulgaria if needed.

read more... 21/08/2017