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Hungary and Cyprus sign gas supply agreement

Hungary and Cyprus sign gas supply agreement

Hungarian government officials signed an agreement with their Cyprus counterparts regarding natural gas supply. With this move Hungary is aiming to diversify its supply routes and boost the country’s energy security. The two countries also intend to cooperate on water management technologies in order to improve Cyprus’s water supply. At present, Hungarian gas supply fundamentally comes from Russia. Having signed the agreement, Hungary is trying to enable Cypriot gas to play a

Iernut TPP construction intensifies

Iernut TPP construction intensifies

Romanian state owned utility Romgaz received first parts (three of the plant’s four gas turbines and two power generators) for its 430 MW gas power plant of Iernut. Project contrators are Spanish Duro Felguera and Romanian Romelectro working on a construction estimated to cost around €268 million. The project is financed from the company’s own resources with the aid of the National Investment Plan. Most construction works are to be finished during the course of 2018, while th

Proposed gas power plant Peruća lacks local support

Proposed gas power plant Peruća lacks local support

Proposed gas power plant Peruća (450 MW electricity + 50 MW thermal) was rejected by the Assembly of the Split-Dalmatia County due to a number of concerns regarding its environmental impact. TPP Peruća is part of the Vis Viva project combining the gas power plant estimated at €400 million and the reversible HPP Vrdovo with an estimated investment cost between €600-700 million. VIs Viva project received considerable resistance with its EIA being a subject of numerous remarks..

Greece utilises gas generation

Further gas price reductions expected in 2017

According to Bloomberg, following the Trump's Administration push to "unleash America's $50 trillion of untapped fossil reserves", U.S. is set to become the leading fossil fuel producer in the world. At present, Russia is the largest oil and gas exporter accounting for more than 20% of the world's natural gas exports, but U.S. will look to drastically change market relations. Considering a forecast of more U.S. drilling (as evidenced by increases in the U.S. rig count), incre

Shah Deniz progresses

Azerbaijan hopes Interconnector Greece-Bulgaria (IGB), a link to the Southern Gas Corridor (SGC), will enable Bulgaria to import gas from the Shah Deniz field. In addition, Croatia and Montenegro are also in the Azerbaijani aim. IGB pipeline is planned to be 182 km long, with a final capacity of 3 bNcm/y. Interestingly enough, Azerbaijan is currently a net importer of gas after it sold the Shah Deniz 1 field capacities with long-term contracts by the year 2020 (Italy, Greece

Gazprom to acquire additional Nord Stream 2 shares

According to Sputnik News, Gazprom approved the purchase of additional shares in the Nord Stream 2 gas pipeline project, worth around $1.5 billion. Nord Stream 2 AG is a project company based in Switzerland, established for the process of planning, construction and subsequent operation of the Nord Stream 2 pipeline. Source: Sputnik News #Gazprom #gas #NordStream

Gazprom sees TAP as opportunity

Gazprom is considering options on how to use the TransAdriatic Pipeline (TAP) to increase its export capacity to Europe. Although, TAP was primarily aimed at diversifying European gas supply options, there are plans to double its capacity by constructing additional compressor stations along its route. The process is to be done with completing an open season and Gazprom is considering to bid. Azer gas reported project costs have been finalized and calculated at €4.5 billion. S

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