Bulgaria Weighs Dependence on Russian Energy

MarineLink.com
Tuesday, March 04, 2014

Reuters - Bulgaria, heavily dependant on Russia for gas and oil, will estimate its own reserves and seek alternatives to cope with any worsening of the Ukrainian crisis, it said on Tuesday.

Bulgaria imports over 70 percent of its energy resources, most of which come from Russia - through Ukraine - and is considering alternatives for its energy security

"Several key threats can be outlined that can pose risks to Bulgarian security. They are mainly economic," Deputy Prime Minister Tsvetin Yovchev said after a meeting of the government's security council over Ukraine.

It meets over 85 percent of its gas needs with imports from Russia's Gazprom through only one route that passes Ukraine.

Its only oil refinery, run by Russia's LUKOIL, that supplies over 60 percent of the its refined fuel in the country, gets its crude through an Ukrainian Black Sea port.

The fresh nuclear fuel for the Kozloduy nuclear power plant that produces about 40 percent of Bulgaria's electricity is also shipped through Ukrainian territory.

Bulgaria has pledged to build new gas links to provide alternative gas supplies and routes, but has not yet linked its gas network with neighboring Romania, Greece and Turkey.

In case of emergency, Bulgaria can rely on its gas storage facility, which has reserves for about two months, the energy ministry said, and it may also use a transit pipeline to Greece to reverse flows and get natural gas from there.

The government may still be forced to limit gas consumption to industry as the gas that can be pumped up from the storage facility is up to 4.2 million cubic meters (mcm) per day, compared to country's average daily consumption of about 8 mcm per day.

Bulgaria has nuclear fuel for about two and a half years, which limits the risk for the operations of the 2,000 megawatt Kozloduy nuclear plant, the energy ministry has said.

(Reporting by Tsvetelia Tsolova; Editing by William Hardy)

 

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Algeria in Talks to Export Crude to Venezuela

Algeria is in talks to export crude oil to fellow OPEC member Venezuela, Algerian Energy Minister Youcef Yousfi said on Tuesday, confirming a Reuters report. Last week,

Joe Barton: Lift Oil Export Ban

A senior U.S. Congressman from Texas has come out in full support of the United States lifting the 40-year old ban on crude oil exports, putting him at odds with

Russia's Shipping Major Reports Strong 1H 2014

OAO Sovcomflot (SCF Group), Russia’s largest shipping company and a global leader in seaborne energy transportation and offshore services, has announced its financial

Ports

Algeria in Talks to Export Crude to Venezuela

Algeria is in talks to export crude oil to fellow OPEC member Venezuela, Algerian Energy Minister Youcef Yousfi said on Tuesday, confirming a Reuters report. Last week,

New Shipping Agency Enters the Market

Newly formed shipping agency Wave Shipping aims to bring change to current industry practice with its differentiated value proposition Founded by Lars Rosenkrands,

Tankship-specific Version of FindaportCD Released

Harbour & terminal information providers, Shipping Guides Ltd, says its latest tanker-specific  addition enables customers to access the most comprehensive port

Navigation

NavStation to Launch at SMM

Touch screen technology has transformed everyday life and now, thanks to Norwegian e-navigation specialist NAVTOR, it is set to revolutionize operations onboard busy vessel bridges.

VIKING Saatsea Puts Crew Training in its Place

VIKING Saatsea will be at SMM 2014 to showcase the revolution it has brought about in crew training – moving everything on board to cut costs, speed up certification,

BCG Releases PCVM Emulation

Buffalo Computer Graphics (BCG) Inc. announced the addition of another emulation product to its family of Radar Simulators. BCG has completed an emulation of the VisionMaster FT radar – our PCVM.

Energy

Shell CEO: US Should Export Oil, Embrace Global Markets

The head of energy company Royal Dutch Shell said on Tuesday that U.S. policymakers should lift the crude oil export ban because allowing the shipments would make global energy system more stable.

Bureau Veritas Diversifies with MatthewsDaniel Acquisition

Bureau Veritas announced today that it has acquired MatthewsDaniel Ltd, a global provider of loss adjusting and risk assessment services for the offshore industry.

Fogal Retires from Zentech After 57 Years in O&G

Robert “Bob” “Sonny” Fogal, Jr., one of the icons in the offshore oil and gas industry, has decided to retire from front-line work as Zentech’s Director of Business Development.

News

Shell CEO: US Should Export Oil, Embrace Global Markets

The head of energy company Royal Dutch Shell said on Tuesday that U.S. policymakers should lift the crude oil export ban because allowing the shipments would make global energy system more stable.

Fuel-saving Modifications for Containerships’ Engines

Mitsui Engineering & Shipbuilding Co., Ltd., and 100% owned subsidiary MES Technoservice Co., Ltd., have received an order from a Taiwan shipowner for fuel-efficiency

Tropical Storm Dolly Heads toward Mexico

NOAA's National Hurricane Center issued a tropical storm warning in effect from Cabo Rojo to Barra El Mezquital, Mexico as Tropical Storm Dolly approaches the country’s eastern coast.

Government Update

Shell CEO: US Should Export Oil, Embrace Global Markets

The head of energy company Royal Dutch Shell said on Tuesday that U.S. policymakers should lift the crude oil export ban because allowing the shipments would make global energy system more stable.

Polar Code Afoot

The IMO is on the verge of adopting the Polar Code, something that is important and long overdue. The International Maritime Organization (IMO), a specialized agency of the United Nations,

Algeria in Talks to Export Crude to Venezuela

Algeria is in talks to export crude oil to fellow OPEC member Venezuela, Algerian Energy Minister Youcef Yousfi said on Tuesday, confirming a Reuters report. Last week,

 
 
Maritime Contracts Navigation Pipelines Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1519 sec (7 req/sec)