The Bulgarian Commission for Energy and Water Regulation (KEVR) has approved a 14.2% reduction in the wholesale price of natural gas for May 2025. The new price stands at approximately €32.90 per megawatt-hour (MWh), excluding VAT and excise duties. This marks the second consecutive monthly decrease, following a 14.3% cut in April. The price reduction […]
Bulgaria cuts wholesale gas price by 14.2% for May 2025 Read More »
Romania’s plans to build 2.15 GW of combined cycle gas turbine (CCGT) capacity face serious doubts over economic viability and long-term utility, according to the European Resource Adequacy Assessment 2024 (ERAA 2024) published by ENTSO-E, the association of Europe’s transmission system operators. The ERAA 2024 warns that if the new gas plants are constructed, they
Romania: ENTSO-E flags planned gas projects as economically unviable by 2035 Read More »
Bulgaria continues to play a vital role in ensuring Hungary’s natural gas supply, and will remain a dependable transit partner in the future, Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó stated in a Facebook post on April 23, following discussions with Bulgaria’s Energy Minister Zhecho Stankov. “We highly appreciate the responsible attitude of
Region: Bulgaria remains key to Hungary’s natural gas security Read More »
During the fourth week of April 2025, Brent oil futures for the Front Month in the ICE market saw fluctuations. Prices reached their weekly peak on Tuesday, April 22, settling at $67.44 per barrel. However, by April 23, they dropped by 2.0%, hitting a weekly low of $66.12 per barrel. In the final two days
Europe: Brent oil, TTF gas and CO2 futures show mixed trends in April 2025 Read More »
Hungary has taken a significant step in modernizing its energy infrastructure with the signing of a contract to build a new combined cycle gas turbine (CCGT) power plant at the Tiszaujvaros site, part of MVM Group’s Tisza power plant complex. The project, awarded to a consortium consisting of Italy’s Ansaldo Energia and Turkey’s Calik Holding,
Hungary moves ahead with construction of Tiszaujvaros gas power plant Read More »
Albania is moving forward with a major energy diversification effort as its first natural gas-fired power plant enters the financing stage. The plant, to be built in Roskovec, Fier County—a region already known for its solar energy development—is being developed by Fier Thermoelectric, a joint venture between Greek companies GEK Terna and DEPA Trade, along
Albania advances first natural gas power plant project in Fier Read More »
Bulgargaz, the state-owned gas supplier of Bulgaria, has announced a proposed reduction in wholesale natural gas prices for December 2025. For April, the proposed price stands at approximately €33.2 per megawatt-hour (MWh), reflecting a nearly 14% decrease compared to the previously approved April price of €38.3/MWh. This April rate itself was already 14.3% lower than
Bulgaria: Bulgargaz proposes lower natural gas prices for April and December 2025 Read More »
Bulgarian gas operator Bulgartransgaz announced that over 87% of the available capacity at the Chiren underground gas storage facility for the 2025/2026 gas year has already been reserved, totaling nearly 567 million cubic meters. Fifteen companies secured storage rights, including eight with foreign ownership. Remaining capacity, along with injection and withdrawal services, will be auctioned
Bulgaria: Over 87% of Chiren gas storage booked for 2025/2026 Read More »
The European Union is developing legal measures that would allow companies to terminate long-term contracts for Russian gas without facing penalties, citing force majeure. This move is part of the EU’s broader strategy to eliminate its reliance on Russian fossil fuels by 2027. European Commission President Ursula von der Leyen announced that the Commission will
Europe: EU plans legal path to end Russian gas contracts without penalties Read More »
OMV Petrom and Romgaz, partners in the Neptun Deep offshore gas project, are preparing to drill a new exploration well as part of their concession agreement commitments. The companies have identified two potential drilling locations, both of which will undergo permitting, though only one site will ultimately be selected for operations. The exploration activity represents
Romania: OMV Petrom and Romgaz advance Neptun Deep project with new exploration well Read More »
