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2014-07-21 18:20:00

BULGARIA'S SOUTH STREAM

BULGARIA'S SOUTH STREAM

Despite proclaiming that is has suspended all work on the South Stream pipeline, the Bulgarian government have been moving ahead to ensure that funding is in place to start construction on the portion on the pipeline which will cross through its territory after emerging from the Black Sea at Varna.

Earlier this month, the European Commission launched an infringement procedure to launch a procedure against Bulgaria for non-compliance of the South Stream pipeline section with EU legislation and requested the Bulgarian authorities halt construction of the pipeline.

Brussels believes that the project has issues of public procurement, competitiveness and incompatibility with Europe's Third Energy Package, as Bulgarian draft bills could prevent third-party access to the pipeline.

However, Capital newspaper reports that government agencies Bulgarian Development Bank (BDB) and Bulgarian Export Insurance Agency (BAEZ) are to undertake guarantees in case of litigation and financial claims against the project.

BDB is expected to issue a guarantee on the amount of approximately EUR 100 million, representing the Bulgarian part of the initial downpayment. The risk will be insured by BAEZ, although Capital points out that in this case, no question of an export of goods or services or for securing receivables from foreign customers.

naturalgaseurope.com

Tags: BULGARIA, SOUTH, STREAM, EU, PIPELINE

Chronicle:

BULGARIA'S SOUTH STREAM
2018, February, 16, 23:15:00

DEWA INVESTS $22 BLN

AOG - The Dubai Electricity & Water Authority (DEWA) is to invest around $22bn on new energy projects across the next five years, with the renewables sector accounting for an increasing share of electricity generation, according to CEO Saeed Mohammed Al Tayer.

BULGARIA'S SOUTH STREAM
2018, February, 16, 23:10:00

TRANSCANADA NET INCOME $3.0 BLN

TRANSCANADA - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or the Company) announced net income attributable to common shares for fourth quarter 2017 of $861 million or $0.98 per share compared to a net loss of $358 million or $0.43 per share for the same period in 2016. For the year ended December 31, 2017, net income attributable to common shares was $3.0 billion or $3.44 per share compared to net income of $124 million or $0.16 per share in 2016.

BULGARIA'S SOUTH STREAM
2018, February, 16, 23:05:00

RUSSIAN NUCLEAR FOR CONGO

ROSATOM - February 13, 2018, Moscow. – ROSATOM and the Ministry of Scientific Research and Technological Innovations of the Republic of Congo today signed a Memorandum of Understanding on cooperation in the field of peaceful uses of atomic energy.

BULGARIA'S SOUTH STREAM
2018, February, 16, 23:00:00

U.S. INDUSTRIAL PRODUCTION DOWN 0.1%

FRB - Industrial production edged down 0.1 percent in January following four consecutive monthly increases. Manufacturing production was unchanged in January. Mining output fell 1.0 percent, with all of its major component industries recording declines, while the index for utilities moved up 0.6 percent. At 107.2 percent of its 2012 average, total industrial production was 3.7 percent higher in January than it was a year earlier. Capacity utilization for the industrial sector fell 0.2 percentage point in January to 77.5 percent, a rate that is 2.3 percentage points below its long-run (1972–2017) average.

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