Azerbaijan to start gas deliveries to Balkan Gas Hub by 2020

03/10/2016 10:53 Natural Gas


Gas from Azerbaijan’s giant Shah Deniz 2 in the Caspian Sea will enter the Balkan Gas Hub in Bulgaria by 2020, as assured by Azerbaijan’s state oil company SOCAR.

At a meeting in Baku of the Bulgarian-Azeri intergovernmental commission for economic cooperation, both sides reiterated that 1 Bcm/year of gas from Shah Deniz 2 would flow into Bulgaria as part of the Southern Gas Corridor project. Bulgaria is currently diversifying gas supplies to the country by building interconnections and constructing pipelines between itself, Turkey and Greece. The Bulgarian government will support both Southern Gas Corridor and Gas Interconnector Greece-Bulgaria (IGB) projects. Bulgaria is likely to become a regional gas center in southeastern Europe -- bringing in gas from several sources, including Russia, Azerbaijan, fields in the Black Sea, Iran and via Greek LNG terminals, including US LNG. The cost of building the gas distribution center is between €1.2-2bn, depending on the version of the business model. The final price will be known after no earlier than 2017.

Exxon Mobil considers sale of Malaysian offshore assets for up to $3 bln

09/10/2019 14:54:00

U.S. energy giant Exxon Mobil Corp is considering a sale of its Malaysian upstream offshore assets for up to $3 billion, Bloomberg reported on Wednesday.


Zimbabwe hikes average electricity tariff by 320% - energy regulator

09/10/2019 13:25:00

Zimbabwe has increased the average electricity tariff by 320% to let the state power utility ramp up production and improve supplies at a time of daily rolling power cuts, the national energy regulator said on Wednesday.


Daily (09.10.2019): European carbon prices reached EUR 23 a tonne on Tuesday, on worries over Brexit negotiations

09/10/2019 10:50:00

Crude oil prices traded lower on Tuesday, after Donald Trump reported that a quick trade deal will unlikely happen soon. Meanwhile, oil prices were supported by protests in OPEC members Iraq and Ecuador, which threatened to disrupt their oil output. Hence, WTI futures fell by 0.2% to $52.63 a barrel, while Brent crude edged 0.2% down at $58.24 a barrel.