Gazprom and EDF will sign South Stream deal next week

14/06/2010 09:21 Natural Gas


Gazprom, the Russian gas firm, will sign next week an agreement with EDF, the main purpose being the French utility taking a 10% stake in the multi-billion South Stream gas pipeline project, according to the CEO of Gazprom on Thursday.

Italy's ENI and gas giant Gazprom, are partners in the project estimated at 20 billion euros, and they had offered a 20% stake to EDF. The main goal of South Stream, whose construction will start in the first semester of 2012, is to transport approximately 63 billion cubic meters of per year gas from Russia under the Black Sea to the Balkans and into Europe. South Stream project is considered by European Union politicians as a rival to the Nabucco pipeline backed by Brussels, which will carry Caspian and Central Asian gas to Europe, avoiding Russia.

Daily (20.11.2019): WTI crude dropped by 3.2% on Tuesday on worries about oversupply and slow progress in U.S.-China trade dispute

20/11/2019 11:18:00

Oil prices declined on Tuesday on worries about crude oversupply and slow evolution in resolving the U.S- China trade war. Brent crude dropped by 2.5% to $60.91 a barrel. WTI futures fell by 3.2% to $55.21 a barrel.


Algerian LNG carrier arrives in Turkey

20/11/2019 08:46:00

Algerian energy company Hyproc SC's LNG carrier Ramdane Abane arrived in Turkey on Tuesday, Nov. 19, according to ship tracking data on Wednesday.


France proposes to build 1-GW wind park off Normandy

20/11/2019 08:42:00

The French government on Monday unveiled plans for the construction of a 1-GW wind fark off the coast of Normandy.