Petroleum production

European Commission Urges Southeastern Europe to Build More LNG Terminals

The European Commission has recommended that Southeastern European countries strive to build LNG terminals to avoid gas supply disruptions and to boost energy security.

European Commission Vice-President Maros Sefcovic announced a comprehensive plan for SEE countries aimed at guaranteeing access to at least three sources of gas, according to reports of the Bulgarian Telegraph Agency.

Turkey's gas imports to increase by 10 percent in 2015: Ministry

Turkey?s natural gas imports for 2015 are projected to reach 52.2 billion cubic meters (bcm), an increase of 9.6 percent compared to last year, according to the Energy Ministry. 

Gas consumption has been steadily increasing in Turkey because of the country?s developing industry and increasing population, and Turkey imported a total of 47.6 bcm of natural gas in 2014.

Bad timing for tenders as oil rates decline

By Chryssa Liaggou

The first major opening of the domestic hydrocarbon market happens to have coincided with the unexpected and rapid decline in global oil prices. This has raised concerns in the Energy Ministry about two tenders for the concession of 20 blocks in the Ionian Sea and south of Crete, as well as three blocks in Arta-Preveza, Aitoloakarnania and northwestern Peloponnese.

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