The development of offshore deposits discovered in the Black Sea is necessary in order to avoid the significant increase of dependence on gas imports and represents a sine-qua-non condition to be able to rely on natural gas in the electricity mix, according to the project "Romania's energy strategy 2019-2030, with an outlook to 2050", published by the relevant ministry.
Three joint ventures have been selected by Cyprus in the first stage of a tender to provide a floating storage and regasification unit (FSRU) to import liquefied natural gas (LNG).
The first joint venture is led by China Petroleum Pipeline Engineering, Natural Gas Public Company of Cyprus (DEFA) said on its website.
Athens-listed group Mytilineos on Wednesday said that it is ready to start construction on a new natural gas-fired power plant at the company's Energy Center in Aghios Nikolaos in Viotia.
Mytilineos has completed all of the necessary licensing procedures for one of the largest gas-powered combined cycle electricity units in Europe.
Israel-focused gas driller Energean said on Thursday it will buy Italian energy group Edison's oil and natural gas unit for an initial consideration of $750 million.
The acquisition would significantly expand Energean's operations in the growing eastern Mediterranean gas hub, with a significant presence in Egypt's offshore basin.
Electricity, hot water and hot water prices will rise from July 1. On average, the heat price increases by 4.5%. Most expensive will be in Razgrad - with an increase of nearly 18% and Gabrovo - by almost 13%. After them are Vratsa, Veliko Tarnovo and Plovdiv.
The jump in the electricity price is on average about 3.5% for the country. The increase is within annual inflation.