Liquefied natural gas

Germany said yesterday it would raise the alert level under its emergency gas plan to secure supply following the recent reduction of pipeline supplies from Russia.

"Bulgaria's refusal of the new gas payment system proposed by Russia will inevitably lead to higher prices for end-users". This was stated in an interview with TASS by Yuri Phillipson, director of the Fourth European Department of the Russian Foreign Ministry.

The Greece-Bulgaria gas interconnection (IGB) has started test gas supplies, the project company ICGB AD told Trend news agency.

"We have started test deliveries with real quantities of natural gas, as planned. However, this is not the beginning of commercial exploitation," the ICGB said.

In the first 100 days of the war in Ukraine, Russia earned 93 billion euros ($98 billion) from fossil fuel exports, most of which were shipped to the European Union, according to a published study.

The Energy and Water Regulatory Commission approved the price of natural gas, as of June 1, 2022, in the amount of BGN 141.36 / MWh (excluding prices for access, transmission, excise and VAT). At this price, Bulgargaz will sell natural gas to the final suppliers of natural gas and to persons who have been issued a license for production and transmission of heat.

Capital Product Partners L.P.

A month ago Prime Minister Kiril Petkov, after a visit to the United States, announced that Bulgaria had bought two LNG tankers for about 200 million cubic meters of gas in total. They can cover our full consumption for June, with deliveries expected to arrive on June 8 and 23. The price is not known, but it is assumed that it may be below the market at the moment.

Despite all the difficulties the world economy has to face and given the fact that shipping is the real backbone of world trade and supply chains, as 90% of all goods are transported by sea, Greek shipping maintains its role in the industry, currently representing 21% of the global fleet and 59% of the European fleet, while the inflows into the Greek balance of payments from maritime transport

Two Floating Storage and Regasification Units (FSRU) for Liquefied Natural Gas (LNG) were chartered from George Prokopiou's Dynagas Ltd to the German Uniper, whose total capacity is equivalent to 30% of Russian gas imports to Germany.

With this move, Uniper comes to diversify and strengthen the security of gas supply in Germany, according to a statement from the German company.

New innovative technological solutions that contribute to the protection of the environment have always attracted Greek shipowners. It is no coincidence that they are also pioneers in investments in liquefied natural gas carriers.