Bulgaria, Greece, Romania to Develop Regional Gas Infrastructure
Bulgaria, Greece, and Romania have signed a contract on cooperation in the development of regional gas infrastructure.
The contract for what was called the "Vertical Gas Corridor" was signed Tuesday by the energy ministers of the three countries.
In February 2011, the EU decided that each Member State had to have at least two sources of natural gas and electricity by 2014 in order to be able to cope with a cut-off of Russian supplies.
Romania still lacks a connection to Bulgaria’s gas grid, despite the fact that a project for the construction of a gas pipeline between Giurgiu and Ruse has been available for years, according to reports of the BGNES news agency.
The gas pipeline, evaluated at around EUR 24 M, is to be completed by 2016.
Romania’s gas transmission grid is connected to those of Hungary and Moldova.
In the case of a suspension of imports from Russia, however, it will not be able to make up for the losses through these connections because the gas imports from Hungary are negligible and the pipeline to Moldova is used for exports.
Russia's Gazprom to set up a new company for building a new gas pipeline to Turkey
Turkish daily Sabah (08.12.14-online in English) reported from Moscow that the Russian state gas company Gazprom announced on Monday that it would set up a company to build a gas pipeline to Turkey.
Speaking on the issue, Gazprom spokesman Sergei Kuprianov said in a statement: "The company will be registered in St. Petersburg ... (it) is called "Gazprom Russkaya".
Putin said last week that Russia was dropping the South Stream project and was instead planning to build a pipeline to Turkey and could set up a gas hub on the Turkish-Greek border to supply Europe with gas.
The western powers, mainly the EU, are in conflict with Russia over the crisis which erupted following Moscow's "aggression" over Ukraine. The EU accused Russia of rekindling the rebellion in eastern parts of the country through military support.
The newly redirected pipeline will have the same capacity of 63 billion cubic meters a year.