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2014-12-10 20:55:00

TO KILL SOUTH STREAM

TO KILL SOUTH STREAM

Eastern European countries dependent on Russian gas are scrambling for alternatives after President Vladimir Putin blindsided them with a decision to scrap a pipeline bypassing Ukraine.

The prime ministers of the Czech Republic, Hungary, Slovakia and Poland met yesterday to discuss energy security after Russia on Dec. 1 backed out of the South Stream pipeline following European Union objections on legal grounds.

The move leaves much of southeastern Europe dependent on Russian gas transiting crisis-torn Ukraine, cause for concern in a region that suffered shortages in 2006 and 2009 after Russia cut off supplies to the former Soviet satellite. The region's leaders are drawing up a list of alternatives that includes a plan to access Azeri gas.

"In the 25 years since the fall of Communism we haven't diversified the gas and oil routes," Hungarian Prime Minister Viktor Orban said after the meeting in Bratislava, Slovakia. "This is a huge strategic mistake, not only for Hungary but for the entire EU."

naturalgaseurope.com

Tags: GAS, RUSSIA, SOUTH, STREAM

Chronicle:

TO KILL SOUTH STREAM
2018, July, 16, 10:35:00

CHINA'S INVESTMENT FOR NIGERIA: $14+3 BLN

AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.

TO KILL SOUTH STREAM
2018, July, 16, 10:30:00

LIBYA'S OIL DOWN 160 TBD

REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.

TO KILL SOUTH STREAM
2018, July, 16, 10:25:00

BAHRAIN'S GDP UP 3.2%

IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.

TO KILL SOUTH STREAM
2018, July, 16, 10:20:00

NIGERIA'S GDP UP 2%

IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.

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