EC approves 33 mln euro financing for construction of Greece-Bulgaria gas link

03/04/2019 09:06 Natural Gas


The European Commission said on Tuesday that it has approved 33 million euro ($37 million) in EU financing for the construction of the gas interconnector Greece-Bulgaria.

As a result of the project, consumers will enjoy lower prices on the back of increased competition on the gas market, the EU's executive body added.


Earlier on Tuesday, ICGB, the company developing the Gas Interconnector Greece-Bulgaria project, said that Greece's J&P-AVAX and a tie-up named IGB-2018 have submitted offers in the tender for awarding a contract for construction of the gas link. The tender is worth an estimated 145 million euro, VAT excluded.


According to previous statements from ICGB, the IGB-2018 tie-up comprises Italy's Bonatti, and Bulgarian construction companies GP Group and Glavbolgarstroy International.


ICGB is planning to complete the selection process next month, paving the way for construction work to begin in June. The deadline for completing construction works is 18 months from their start.


China-Russia East-Route natural gas pipeline finalized

17/10/2019 14:16:00

This week, construction of the northern section of the China-Russia East-Route natural gas pipeline was finalized in China's Jilin Province. The northern part of the project stretches from the city of Heihe in Heilongjiang Province to Changling County in Jilin Province, with a distance of 1,067 kilometers.


Australia's Woodside aims to hit go on $11 billion gas project in early 2020

17/10/2019 14:09:00

Woodside Petroleum Ltd has pushed out the final approval date for its mammoth Browse gas project but slightly brought forward plans to sign off on its smaller Scarborough project as it races to fill an anticipated global supply gap.


Daily (17.10.2019): NBP spot slumped by over 8% on Wednesday amid firmer Norwegian exports and lower gas-for-power demand

17/10/2019 11:38:00

Speculations about a potential extension of crude supply cuts by OPEC and its allies as of December led to a recovery in crude oil prices on Wednesday. The greenback’s slide coupled with short covering in anticipation of an industry report on U.S. crude inventories also contributed to the market rally. Still, concerns over tighter crude demand and expectations for higher crude stocks in the U.S. limited gains. Against that backdrop, Brent crude rose by 1.2% to 59.42 USD/bbl, while WTI futures advanced by 1% to 53.36 USD/bbl.