Fuel gas

Turkey is set to export natural gas to Bulgaria under a new brand called "Turkish Blend", which will include a mixture of gas from various sources. This gas is also intended to pass through Bulgaria to reach Central European countries such as Hungary and Slovakia.

Recent developments in the Middle East have led to a renewed phase of uncertainty and have pushed liquefied natural gas (LNG) prices up.

September futures contracts on the Netherlands-based TTF exchange rose 16% last week, to levels not seen since December 2023.

Cyprus will soon launch tenders for the completion of the liquefied natural gas terminal for electricity generation, despite the termination of a 500-million-euro contract with Chinese-led CPP-METRON Consortium and an investigation by the European Public Prosecutor's Office over possible tender fraud and misappropriation of EU funds, Energy Minister George Papanastasiou has said.

A group of European Union and US Democrat lawmakers has asked the International Energy Agency to develop international standards for measuring the oil and gas sector's emissions of methane, to help countries adopt tougher measures targeting the potent greenhouse gas, a letter showed on Tuesday.

In May, natural gas imports to Europe from Russia surpassed those from the US for the first time since the onset of the Ukraine war, highlighting the EU's ongoing struggle to reduce reliance on Russian energy. Despite concerted efforts to cut ties with Russian fuels, one-off factors drove this shift, emphasizing the complexity of Europe's energy landscape, according to the Financial Times.

Karpowership has announced that it signed a memorandum of intent (MoI) with Brazil's Petrobras to combine their respective expertise in the natural gas and power sectors.

Italgas sees prospects for significant development of the Greek natural gas market, after fully controlling the Greek medium and low pressure network since September 2022, with the completion of the acquisition of DEPA Infrastructure.

The cheap Russian natural gas that enters Greece from Sidirokastro, in Central Macedonia, through the TurkStream pipeline, put liquefied natural gas loads off the market in April.

Bulgargaz, the leading public gas supplier in Bulgaria, anticipates a notable decrease in the price of natural gas for the upcoming month of May. According to Lyudmila Vitanova, head of the company's pricing department, the expected reduction could range between 5 to 6% compared to the current rate, currently set at BGN 58.84 per MWh (excluding access, transmission, excise, and VAT).

Türkiye is in talks with U.S. energy company ExxonMobil over a multibillion-dollar deal to buy liquefied natural gas (LNG), Energy Minister Alparslan Bayraktar has told the Financial Times.

Türkiye is seeking to build a "new supply portfolio" that will make it less reliant on any single partner, the minister told in an interview with the newspaper.