Energy industry

As of October 1, 2016, the price of natural gas will increase by less than 3.2%, which means that the prices of hot water and heating will remain unchanged, stated the Chairman of the Energy and Water Regulatory Commission Ivan Ivanov.

President Recep Tayyip Erdo?an has said Turkey needs to use its coal and water resources more effectively as the country is unlikely to meet its rising energy demand through just renewable resources. 

At a meeting with European Commission Vice-President in charge of Energy Union Maros Sefcovic in Munich on Saturday, Bulgarian President Rosen Plevneliev called for the creation of the European Energy Union to begin from the Balkans.

Plevneliev is on a visit to Germany for participation at the 52ndMunich Security Conference which is taking place from Friday to Sunday.

The Russian government will draw up measures to ease administrative costs for energy producers hit by the fall in oil prices, but will not provide financial support, Energy Minister Alexander Novak said on Jan 23.

Low oil prices will not go on for a long period of time, according to International Energy Agency director Fatih Birol, who said he would expect oil prices to start rising 2017 under normal economic circumstances.

"For too long Bulgaria and other countries of the region have been concentrating on large scale pipeline projects such as South Stream and have left behind the development of important regional infrastructure, notably interconnections with neighbouring countries," Klaus-Dieter Borchardt, Director Internal Energy Market at the European Commission's Directorate-General for Energy

French company Engie and US-based Cheniere have confirmed they are interested in importing natural gas to Bulgaria starting in 2016, a specialized energy website has announced

Energy Minister Ali R?za Alaboyun has said he discussed several key energy security issues with U.S. Deputy Secretary of State Antony Blinken in a closed meeting on Nov. 20. 

Turkey, extremely dependent on fossil fuels such as coal in energy production, is at a very important junction. Either it will increase its dependence and become trapped in high-carbon energy infrastructure or it will focus on renewable resources for a sustainable energy future. 

Turkey has announced a series of new subsidies to support renewable energy equipment production, as it raises its renewable energy targets.