Liquefied natural 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.

Foreign Minister Mevlüt Çavuşoğlu described their meeting with his Egyptian Sameh Shoukry as "open and sincere" and said the process has begun to raise the bilateral relations to the level of ambassadors.

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.

Turkey will hold a natural gas summit on February 14-15 to bring together gas supplier countries and Europe's consumer countries in Istanbul, Turkish Energy Minister Fatih Donmez said on Monday.

"We will bring together supplier countries from the Middle East, Mediterranean, Caspian and Middle Asia with consumer countries from Europe," Donmez said.

The government has approved the construction of a floating gas and regasification unit (FSRU) off Corinth after a fast-track process, the Development Ministry said on Friday.

As demand grows for liquefied natural gas (LNG) in Europe amid the war in Ukraine, Greece has relied heavily on its sole LNG terminal off Athens, Revithoussa, to replace Russian gas imports.

Plunging wholesale gas prices have sparked speculation of an end to Europe's energy crisis, but consumers' electricity and gas bills remain sky high, fueling runaway inflation.

European benchmark Dutch TTF gas price has shed 18 percent since the start of this year as unusually warm winter weather depresses demand and encourages stockpiling.