Natural gas

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.

A total of 4.56% price reduction of natural gas is expected as of April 1, Bulgaria's State Commission for Energy and Water Regulation chair Boyan Boev announced.

It is not yet clear how the cuts will affect the consumer prices of heating and hot water.

Gas prices for industrial consumers in Romania will rise by a thumping 24 per cent as of next month, with a sharp impact likely on industry and jobs, experts say.

The move is part of a deregulation schedule agreed with international lenders including the International Monetary Fund, IMF and the World Bank.

What stopped investment said to be the crucial one Nobody wants to guarantee for credit for "Southern stream"

The ‘Southern Stream’ project in Serbia is at standstill at the moment because of the problem of securing state guarantees for the loan necessary for a foundation investment for a joint venture.