Slovakia and Ukraine have reached a deal that will allow natural gas from Central Europe to reach Ukraine via Slovakia.
Under the deal, which will be signed on Monday in Bratislava, Slovakia will reinstate a disused pipeline that will be capable of supplying 3 B cubic metres of gas a year to Ukraine.
President Nicos Anastasiades said discovery of natural gas around Cyprus could galvanize international efforts to resolve a longstanding division of the island and smooth development of an alternative energy supply source to Russia.
But he said it was too early to speak of tangible progress in recently relaunched peace talks on the ethnically split island.
Natural gas prices in Bulgaria will decrease by 3 to 15%, the country's energy watchod DKEVR announced Friday.
Boyan Boev, head of the State Commisison for Energy and Water Regulation (what DKEVR stands for), said he hoped the move would push more Bulgarians to use gas, the website Expert.bg reports.
Bulgaria will participate in the construction of a floating liquefied natural gas terminal near the Greek city of Kavala in a bid to secure constant access to natural gas.
Talks on the project are to be wrapped up by end-2014, according to the authorities in Athens, as cited by the Bulgarian National Radio (BNR).
Bulgaria's State Commission for Energy and Water Regulation (DKEVR) has approved the proposal of Bulgargaz to reduce the price of natural gas by 2.73% as of April 1, 2014.
The price of natural gas in the second quarter of 2014 will be BGN 612.80 per 1000 cubic meters, VAT excluded, excise duty excluded.
Significant amounts of natural gas could be extracted from Bulgaria's Khan Asparuh deep-water block, OMV believes.
Austrian energy company's expectations have so far been fomented by the discovering of vast amounts of gas at Neptun, a deep-water block in neighboring Romania situated next to Khan Asparuh.