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Klaus-Dieter Borchardt: Bulgaria Has Potential to Develop into Gas Hub

Klaus-Dieter Borchardt: Bulgaria Has Potential to Develop into Gas Hub

"For too long Bulgaria and other countries of the region have been concentrating on large scale pipeline projects such as South Stream and have left behind the development of important regional infrastructure, notably interconnections with neighbouring countries," Klaus-Dieter Borchardt, Director Internal Energy Market at the European Commission's Directorate-General for Energy, has told Novinite

Chasing a Climate Deal in Paris

Chasing a Climate Deal in Paris

Negotiators have been assigned by the French presidency to unveil a new draft Friday morning of a climate change text that is significantly slimmed down from the 50-page document published on Thursday

All Eyes on OPEC to Boost Oil Prices

All Eyes on OPEC to Boost Oil Prices

Oil prices rose from near-2015 lows on December 3 after a report that Saudi Arabia, a de-facto leader of the Organization of Petroleum Exporting Countries, would propose a deal to balance oil markets with non-OPEC help in 2016

Romania Is Very Close to Reaching its Energy Independence

Romania Is Very Close to Reaching its Energy Independence

Although Romania is not far from reaching the goal of gaining its energy independence, still half of its electricity generating capacity is ineffective economically, according to specialists in the field. This capacity needs subsidy schemes established at EU level

New $500 Million Initiative to Boost Large Scale Climate Action

New $500 Million Initiative to Boost Large Scale Climate Action

Germany, Norway, Sweden, and Switzerland - today announced a new $500 million initiative that will find new ways to create incentives aimed at large scale cuts in greenhouse gas emissions in developing countries to combat climate change. The World Bank Group worked with the countries to develop the initiative

Bulgaria Backs Nord Stream Gas Extension

Bulgaria Backs Nord Stream Gas Extension

Bulgarian Prime Minister Boiko Borisov said on Monday his government supported Russia's plans to extend its gas link to Germany. A copy of a letter seen by Reuters last week named Bulgaria as one of 10 countries that raised concerns the Nord Stream II project could run counter to European Union interests and risk further destabilising Ukraine

Snam S.p.A. to Join TAP Shareholding, Acquiring 20% Stake in the Project from Statoil

Snam S.p.A. to Join TAP Shareholding, Acquiring 20% Stake in the Project from Statoil

TAP is pleased to announce that Snam S.p.A. (Snam) will shortly join TAP’s shareholding by acquiring a 20% stake in the project from Statoil. The news follows Statoil’s announcement this morning that it has agreed to sell its shareholding in TAP, by which it will divest its 20% interest stake in the project. Statoil and Snam have agreed to undertake the transaction provided certain conditions are met. The transaction is expected to close by end 2015