Bulgaria and Romania launch a new natural gas pipeline

14/11/2016 09:37 Energy Market

news

On Friday, Bulgaria and Romania have opened a new natural gas pipeline as part of Sofia’s objective to reduce its reliance on Russian gas. Bulgaria currently imports more than 90 percent of its gas from Russia’s Gazprom.

The pipeline is 25-km long and can be operated in either direction. The pipeline runs under the Danube River and has a capacity of 1.5 billion cubic meters of gas per year from Bulgaria to Romania, while the capacity going the other way is 500 million cubic meters per year.

In April, the two countries have signed a contract with Austrian firm Habau to construct the interconnector for a total of 24-million euro.

Currently Bulgaria is also constructing gas pipelines with other countries like Greece, Serbia and Turkey.

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.

<READ MORE

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.

READ MORE

Ukraine to export natural gas to Moldova without Gazprom's involvement

09/10/2019 09:28:00

The Cabinet of Ministers has instructed NJSC Naftogaz of Ukraine to take measures to ensure natural gas exports to Moldova without the involvement of Russia's Gazprom.

READ MORE