gas

Romania: Romgaz terminates contract with Duro Felguera for Iernut gas plant

Romanian state-owned gas company Romgaz has officially terminated its contract with Spain’s Duro Felguera for the long-delayed Iernut natural gas-fired power plant. The Board of Directors approved the decision on 11 September, citing repeated failures by the contractor to meet obligations and deadlines. A termination notice was sent the same day, with the decision to […]

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Greece: Major Greek-Israeli consortium advances 600 million euro Larissa gas power plant

Greece’s upcoming combined cycle gas turbine power plant in Larissa, valued at nearly €600 million, is drawing strong competition from three major Greek groups and one foreign bidder. The project is being developed by the Greek-Israeli consortium DEPA-Clavenia. Tender documents, covering procurement, construction, and commissioning, were issued at the end of July, with final bids

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Bulgaria approves state-guaranteed loans to expand gas transmission network

The Bulgarian government will provide state guarantees for loans totaling €127.3 million to support Bulgartransgaz’ investment in the Vertical Gas Corridor. The cabinet approved draft agreements with Investbank and United Bulgarian Bank to finance the expansion of the country’s natural gas transmission system. The loans, set to be disbursed by 15 December, will partially fund

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European gas prices stable in early September as LNG supplies and storage support market

European natural gas prices remained relatively stable in early September, supported by coordinated global LNG imports that maintained adequate storage levels across the continent. Although European gas inventories were 16% lower than last year, rising US LNG exports and expanded terminal bookings helped ensure supply security for European consumers. TTF gas futures on the ICE

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Montenegro to sign MoU with Japan’s JERA for potential LNG terminal and gas-fired power plant

The Montenegrin Government is set to sign a Memorandum of Understanding with Japan’s energy company JERA, paving the way for the potential development of a liquefied natural gas (LNG) terminal and a gas-fired power plant in the country. Officials describe the agreement as a significant step forward in bilateral relations, moving beyond traditional development cooperation

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Hungary: MVM launches construction of 540 MW gas-fired power plant in Matra region

Hungary’s state-owned energy group MVM has begun construction of a new combined-cycle gas turbine (CCGT) power plant in the Matra region. Designed to produce 540 MW, the facility is scheduled for completion in 2028 and will play a significant role in ensuring the country’s electricity supply. The project follows a procurement process launched in 2023

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Hungary signs landmark long-term natural gas deal with Shell to boost energy diversification

Hungary has concluded a landmark long-term natural gas agreement with Shell, marking the largest deal ever reached between the country and a Western energy supplier. The announcement was made by Minister of Foreign Affairs and Trade Peter Szijjarto during the Gastech conference in Milan, where he underlined that Hungary’s diversification strategy aims to keep existing

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Europe: Brent oil and TTF gas prices fluctuate in early September amid OPEC+ production plans and rising EU gas reserves

Brent oil futures for the Front Month on the ICE market reached a weekly high settlement price of $69.14 per barrel on Tuesday, September 2, marking the highest level since August 2. Following this peak, prices declined, reaching a weekly low of $65.50 per barrel on Friday, September 5. This represented a 3.8% drop compared

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Bulgarian section of Vertical Gas Corridor to be completed by October 2026, says Bulgartransgaz CEO

Vladimir Malinov, CEO of Bulgarian natural gas transmission operator Bulgartransgaz, announced that the Bulgarian segment of the Vertical Gas Corridor will be completed by October 1, 2026. Speaking at an energy conference in Thessaloniki, Malinov said the project has progressed from concept to construction through the coordinated efforts of nine operators from seven countries: Greece,

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Bulgaria completes first phase of Chiren gas storage expansion, boosting regional energy security

The first stage of the Chiren underground gas storage expansion has been completed, Energy Minister Zhecho Stankov announced before the parliamentary energy committee. The project is designed to increase total capacity from 550 million cubic meters to 1 billion cubic meters and is divided into three phases: one above-ground and two underground. The completed surface

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