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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

U.S. Awards $61.8 Mln for Port Projects

U.S. Transportation Secretary Anthony Fox today announced 40 awards totaling nearly $500 million in funding for the  FY 2016 Transportation Investment Generating Economic Recovery (TIGER) grants.

DP World takes over Rodney Container Terminal, Canada

DP World has signed a long-term lease agreement for the expansion and operation of the multi-purpose Rodney Container Terminal at Saint John, New Brunswick, Canada.

Moody's: Challenges Ahead for Asian Port Operators

Moody's Investors Service says lackluster global growth, weak commodity prices, high capital expenditure commitments and a liner industry struggling with overcapacity

Navigation

Protecting Sensitive Sea Areas in South-East Asia

Further progress towards identifying and designating Particularly Sensitive Sea Areas (PSSAs) in south-east Asia has been made during a regional meeting in Lombok, Indonesia (27-28 July).

CMA CGM Rolls out Bengal Bay Express

CMA CGM has introduced its new Bengal Bay Express service, operated with 11 vessels of 6,500 TEU on a weekly basis, in a continuous effort to provide its customers with the best quality service.

The ‘Paperless’ Ship

The cloud is for “device-agnostic young slashers,” said Trond Bjorseth, marketing manager, of Oslo-based cloud consultancy, Tieto. His company offers an information

Energy

China Refineries Enters Global Oil Trade

During the last year, China’s “teapot” refiners are helping to boost China’s crude import demand and their influence is expanding, says Clarkson Research Services.

First US LNG Shipment Goes to China

The first liquefied natural gas vessel from the lower 48 U.S. states is on its way to China, according to a Reuters interactive map on Friday, the latest sign that

Swiber Applies for Judicial Management Instead of Liquidation

Singapore oilfield services company Swiber Holdings Ltd said on Friday it has applied to place itself under judicial management instead of liquidation.   Swiber

News

U.S. Awards $61.8 Mln for Port Projects

U.S. Transportation Secretary Anthony Fox today announced 40 awards totaling nearly $500 million in funding for the  FY 2016 Transportation Investment Generating Economic Recovery (TIGER) grants.

DP World takes over Rodney Container Terminal, Canada

DP World has signed a long-term lease agreement for the expansion and operation of the multi-purpose Rodney Container Terminal at Saint John, New Brunswick, Canada.

MED AMERICAS will Replace MGE Service

CMA CGM is revamping it MGE service becoming the MED AMERICAS, stand-alone CMA CGM service with dedicated fleet of 11 vessels of 2,500 TEU, in a continuous effort to improve service coverage,

Government Update

U.S. Awards $61.8 Mln for Port Projects

U.S. Transportation Secretary Anthony Fox today announced 40 awards totaling nearly $500 million in funding for the  FY 2016 Transportation Investment Generating Economic Recovery (TIGER) grants.

Libyan Oil Exports to Resume from Closed Ports

Libyan oil exports from closed ports should resume in no more than one to two weeks after a deal was signed between the government and an armed brigade controlling the terminals,

China, Russia Navies to hold S. China Sea Drills

China and Russia will hold "routine" naval drills in the South China Sea in September, China's defence ministry spokesman Yang Yujun told a news conference on Thursday.

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Pipelines Pod Propulsion Port Authority Salvage Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | 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: 0.1546 sec (6 req/sec)