Petroleum production

"Bulgaria's refusal of the new gas payment system proposed by Russia will inevitably lead to higher prices for end-users". This was stated in an interview with TASS by Yuri Phillipson, director of the Fourth European Department of the Russian Foreign Ministry.

In the first 100 days of the war in Ukraine, Russia earned 93 billion euros ($98 billion) from fossil fuel exports, most of which were shipped to the European Union, according to a published study.

The Energy and Water Regulatory Commission approved the price of natural gas, as of June 1, 2022, in the amount of BGN 141.36 / MWh (excluding prices for access, transmission, excise and VAT). At this price, Bulgargaz will sell natural gas to the final suppliers of natural gas and to persons who have been issued a license for production and transmission of heat.

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Two Floating Storage and Regasification Units (FSRU) for Liquefied Natural Gas (LNG) were chartered from George Prokopiou's Dynagas Ltd to the German Uniper, whose total capacity is equivalent to 30% of Russian gas imports to Germany.

With this move, Uniper comes to diversify and strengthen the security of gas supply in Germany, according to a statement from the German company.

Prime Minister Kyriakos Mitsotakis will speak at noon at the ceremony for the inauguration of the implementation of the project of the terminal of the Independent Natural Gas System (ASFA) of Alexandroupolis.

The U.S. government, under pressure to lower gas prices, announced on April 15 that it will resume the sale of leases for oil and gas drilling on federal lands while imposing new conditions, including the first hike in royalties in more than 100 years.

Germany has released nearly 3 billion euros ($3.2 billion) to acquire floating liquefied natural gas (LNG) import terminals, as it seeks to move away from dependence on Russian gas.

Israel pledged its support to its European allies in their quest for energy security and independence through Energy Minister Karin Elharar during yesterday's ministerial meeting with Costas Skrekas and Cypriot Minister Natasa Peleidou.

This was noted by Ms. Elharar in her statements promising gas exports from the fields of the Israeli EEZ to European markets.

More than double the current imports of liquefied natural gas (LNG) will be required to meet electricity and gas consumption needs in Greece and neighboring countries if Moscow cuts off gas supplies through pipelines to our northern borders.