Russia will respond in kind to U.S. sanctions against the TurkStream and NordStream II projects, Foreign Minister Sergey Lavrov said on Dec. 23.
Speaking at the upper chamber of the Russian parliament in Moscow, the Council of Federation, Lavrov said preparing a fitting response needs both time and analysis.
The Turkish Stream gas pipeline will be commissioned by the end of 2019, with both legs filled with gas, Daily Sabah reported.
Gazprom announced in a press release that the filling of the pipes marks the last stage before commissioning, which is to carry Russian natural gas under Black Sea waters to Turkey and from there to the European Union and Southeast European countries.
Energean Oil & Gas said on Tuesday its Energean International unit submitted an application to import and supply natural gas to Cyprus starting in 2021.
In its application to Cypriot authorities, it said it sought to supply gas through a pipeline from the Karish block off the coast of Israel to Vassiliko in Cyprus.
Italy's biggest natural gas distribution company, Italgas, is on the verge of entering the Greek market.
Kathimerini understands that Europe's third largest gas distributor is very close to reaching an agreement with fellow Italian Eni Gas e Luce for the acquisition of the latter's portfolio in the Greek gas grid.
The European Investment Bank said on Thursday it would stop funding fossil fuel projects at the end of 2021, a landmark decision that potentially deals a blow to billions of dollars of gas projects in the pipeline.
The bank's new energy lending policy, which it said was approved with "overwhelming" support, will bar most fossil fuel projects, including traditional use of natural gas.
Worldwide demand for natural gas is growing, and there is currently no shortage of supply. Moreover, as alternative energy sources become more affordable, the price pressure and competition are likely to remain fierce. In fact, the natural gas price forecast for the next three years shows a flat trend with no significant upside potential.
President Klaus Iohannis said, on Thursday, at the inauguration of the natural gas compression station Podisor, in Giurgiu County, that the energy sector has been severely disrupted in the past year by hazardous measures, such as Ordinance 114, and stressed that the zero emergency is repairing the "evil caused". "It is indisputable that, in the energy field, Romania enjoys certain advantages.