Fuel gas

The European Union opened a scheme this week for companies to jointly buy gas, aiming to secure supplies ahead of winter and avoid a repeat of last year's record-high energy prices.

As Europe begins to recover from the shock of the energy crisis and concerns about gas shortages following Russia's invasion of Ukraine, investors are reassessing the prospect of investing in liquefied natural gas terminals.

Türkiye has delivered first cargo of natural gas to Bulgaria as part of a deal the two countries signed in January this year, The Turkish Petroleum Pipeline Company (Botaş) has announced.

Bulgarian Energy Minister Rossen Hristov attended ceremony at the Marmara Ereglisi LNG Terminal in Türkiye's northwestern Tekirdağ province, marking the shipment of gas.

Cyprus' Energy Minister George Papanastasiou stated on Thursday that, during his discussions with consortiums operating in the Cypriot exclusive economic zone (EEZ), he suggested the option of importing natural gas quantities from the EEZ for power generation, in combination with LNG exports via a small LNG plant.

The combination of the de-escalation of natural gas rates and the mild winter has reversed the conditions shaped by the energy crisis in relation to domestic gas consumption, exports and LNG cargoes at the port of Revithoussa, the role of Russian natural gas and the shares of industrial fuels.

BELGRADE - Serbian PM Ana Brnabic said on Friday that, after the completion of a gas pipeline to Bulgaria in October, Serbia would focus on building a gas pipeline to North Macedonia as well in order to connect with Greece and LNG terminals there.

A new report by Global Energy Monitor and Bankwatch Network says Western Balkan countries will face difficulties in their plans for energy transition.

The Energy and Water Regulatory Commission will consider Bulgargaz's report on the price of blue fuel in April. The proposal of the public supplier is in the amount of BGN 103 per megawatt hour. This is a price that is nearly 3% lower than the one approved for March, writes Nova TV.

However, the final decision will be made on April 1.

Europe has weathered the energy crisis that followed Russia's invasion of Ukraine so far, but businesses and households are already thinking about how to get through the next winter.

Mild weather, government aid, gas storage facilities at full capacity and energy imports from other regions have helped Europe limit the economic damage caused by the war.

Greece has reduced the subsidies extended to consumers grappling with high energy costs to 95 million euros ($102.9 million) in February from 840 million euros in January, the energy minister said on Tuesday, citing a fall in gas prices.