Energy

Part of the South Stream gas pipeline could pass through Crimea, according to some Russian media reports confirmed by Bulgaria's Deputy Economy Minister.

Business outlet RosInvest has suggested that Gazprom would consider the move once the situation in Ukraine de-escalates.

Thousands of people have taken to the streets of Romania in a protest against plans by US energy giant Chevron to drill for shale gas, Sunday.

"Hydraulic fractures never heal," the protesters claimed regarding the drilling method used to unlock shale gas, Balkans.com reported.

Ukraine's acting Prime Minister Arseniy Yatsenyuk says his country does not accept the new prices for gas introduced by Russia.

This week, Russian energy giant Gazprom announced a major price hike for delivery of gas to Ukraine, up to USD 485 per 1000 cubic meters from the previous USD 268.

Germany's concern Siemens is to provide the electrical systems and control and measurement apparatus for the offshore section of the South Stream.

The Russian energy company, Gazprom has raised the price it charges Ukraine for gas by 43.6%.

The company's chief executive Alexei Miller said the change was because Kiev has failed to pay its bills.

He said its current debt to Russia stood at just over USD1.7 B.

Bulgaria will participate in the construction of a floating liquefied natural gas terminal near the Greek city of Kavala in a bid to secure constant access to natural gas.

Talks on the project are to be wrapped up by end-2014, according to the authorities in Athens, as cited by the Bulgarian National Radio (BNR).

The EBRD is loaning Spain's EDP Renovaveis, a leader in the renewable energy sector, with 20 million euro to construct and run six solar photovoltaic parks generating a total of 50MW in the southern Romanian region of Oltenia.

A parallel facility costing 10 million euro will be provided by the Black Sea Trade and Development Bank, according to a statement released on Thursday.

EU to take measures against dependency on Russian gas

The European Commission will present an energy plan in June.

A construction worker stands in front of a section of Russia's South Stream pipeline near the village of Sajkas, 80 kilometres north of Serbian capital Belgrade on November 24th 2013. [AFP]

Bulgaria's Parliament adopted incentives for small and rooftop power plants with a capacity of up to 30 KW.

Bulgarian MPs lifted the regulatory regime requiring the registration of people conducting installation and maintenance activities for power plants with a capacity of up to 200 KW, according to reports of dnevnik.bg.

Britain urgently needs shale gas to reduce energy dependence from Russia, its PM David Cameron said Wednesday.

The Guardian quotes him as saying that the country has a duty to step up gas production.

Cameron described Ukraine's crisis as a "wake up call" for the possible repercussions that reliance on Russian gas could have on Europe.