Natural gas

The first section of a natural gas pipeline between Iran and Iraq has been completed, the head of Iranian gas development has said.

Kiev is prepared to pay an interim compromise price for Russian gas, energy minister Yuri Prodan said, and criticised Russia's Gazprom for being unwilling to negotiate.

One of the effects of the Russian-Ukrainian conflict was cheaper gas both for the Romanian consumers and for the rest of the Europeans, Petrom CEO Mariana Gheorghe told AGERPRES in an interview.

The South Stream pipeline project designed to carry Russian natural gas to the European Union bypassing Ukraine will probably remain on hold for years, Bloomberg has reported.

Croatian politicians have hailed an EU decision to support the construction of a liquefied natural gas, LNG, terminal on the Croatian island of Krk, which will eventually be connected with the LNG terminal on the Baltic in Poland.

BELGRADE - Household gas bills in Serbia will be higher by 1.1 to 1.3 percent, or RSD 45.4 per cubic meter on average, starting with August 1, while other consumers will pay 1.1 to 1.4 percent or RSD 42.3 per cubic meter more, VAT excluded, the Council of the Energy Agency of the Republic of Serbia (AERS) said in a release.

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

Natural gas is 2.5 percent more expensive for households and 1.5 percent for industrial consumers starting from Tuesday, Romanian Energy Regulatory Authority (ANRE) President Niculae Havrilet announced.

Bulgaria's energy watchdog (DKEVR) will discuss and set price changes for natural gas, electricity and central heating and hot water, to come into effect on July 1. 

It is expected that the price of natural gas will be decreased by 2.47% to BGN 597.69 without excise duty and VAT for 1000 cubic meters. 

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.