Natural gas storage

BUDAPEST - Hungary is willing to help Serbia secure the energy it needs and store natural gas for it, Serbia's Energy Minister Aleksandar Antic said on Tuesday.

The World Bank has announced $400 million of additional financing for the first gas storage facility in Turkey’s underground salt formation.

Bulgaria's state-owned gas supplier Bulgargaz has warned that a gas price cut will put it into a difficult financial situation.

Alexander Petrov, head of a department of Bulgargaz, presented the opinion of the company on the gas price cut proposal of the State Commission for Energy and Water Regulation (DKEVR) at an open sitting of DKEVR on gas prices as of July 1, 2014.

The Turkish Petroleum Corporation (TPAO) has allocated a budget of $1.2 billion for increasing its send-out capacity of natural gas storage in Silivri in a move to solve the country’s long-lasting storage problem in the sector.

Bulgarian Deputy Prime Minister Daniela Bobeva has explained that the government is ready to secure gas consumption for a minimum of 3-4 months in the case of a gas supply crisis.

Bobeva, as cited by the Bulgarian National Radio, announced Monday that additional gas quantities were being injected into the Chiren gas storage facility.