The Bulgarian Government reportedly launched a €33,000 tender for the offshore section of the South Stream project, in order to better understand some financial implications of the project.

The Managing Director of Bank Mellat, Iran’s biggest private bank, has announced that the institution will invest $7 billion in the development of South Pars gas field, Iran’s largest resource holding some 30 percent of the country’s total proved gas reserves.

Russia might direct a new pipe to Bulgaria functioning as a ramification of its planned gas pipeline to Turkey

China finds sizable natural gas field in South China Sea

RUSSIA'S GAS EXPORT REORIENTATION IS A LOGICAL MOVE

Launch date of Turkish Stream not to differ much from South Stream schedule

Bulgaria’s central role in Europe’s emerging energy picture stems from both its geography and its history. Located on the shores of the Black Sea, it was the nominal entry point for alternative natural gas pipeline projects between Russia and Europe meant to bypass Ukraine.

Turkish Ambassador to Russia noted that energy cooperation with Russia was strategically important for Turkey, stressing that the sides are discussing potential routes for a new Black Sea gas pipeline.

GAZPROM PURCHASES PARTNER INTERESTS IN SOUTH STREAM OFFSHORE ENTITY

Russia's decision to redirect the South Stream pipeline toward Turkey came as a shock to many European nations. The European Union's attempts to bargain more concessions from Russians by being intractable on various technical aspects had the opposite effect. Those who pinned their hopes on the project as a source of energy stability were left puzzled and discontented. Although Moscow's move can be interpreted in many ways, it fits into Russia's larger strategy in contemporary international politics.