RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2014-08-05 18:20:00

SOUTH STREAM: STROYTRANSGAZ LEAVES

SOUTH STREAM: STROYTRANSGAZ LEAVES

Russia's engineering construction company Stroytransgaz has withdrawn from the construction of the Bulgarian section of the South Stream project.

In May, a consortium comprised of Stroytransgaz and Bulgaria's Gasproekt Jug was awarded the contract to built the gas trunkline in the Balkan country. According to a note released back then, project investors were Gazprom and Bulgarian Energy Holding.

Stroytransgaz is controlled by Volga Group, investment vehicle in the hands of Gennady Timchenko. The US Treasury imposed sanctions on Timchenko in May.

"From the viewpoint of business, the loss of the South Stream is an unpleasant thing for us, but who should I lodge complaints with? The Americans?," Timchenko said in an interview with ITAR-TASS.

Timchenko said that the withdrawal is meant to keep the project going.

The project is encountering other three sets of problems. Firstly, the country is experiencing a political instability that does not create a solid background for investments. Secondly, the European Union is increasingly targeting Russian energy projects, as the last round of sanctions clearly indicates. Thirdly, the contract, originally estimated at EUR 3.5 m, has been revised to EUR 3.8 m. The possibility of additional cost overruns is not to be excluded.

naturalgaseurope.com

Tags: RUSSIA, SOUTH, STREAM, GAZPROM, BULGARIA, US
Chronicle:
SOUTH STREAM: STROYTRANSGAZ LEAVES
2022, July, 6, 10:59:00
6TH ANNUAL LNG SUMMIT USA
The 6th Edition of Wisdom’s Much Acclaimed Annual LNG Summit Will Be Held Live in Houston - PREPARING THE INDUSTRY FOR THE RISE IN DEMAND FOR LNG
SOUTH STREAM: STROYTRANSGAZ LEAVES
2022, July, 6, 10:58:00
9TH INTERNATIONAL LNG CONGRESS LNGCON 2023
9th International LNG Congress (LNGCON 2023) 6-7 March, 2023 Link to the Congress website: https://bit.ly/3tXVmr7
SOUTH STREAM: STROYTRANSGAZ LEAVES
2022, July, 6, 10:55:00
S.KOREAN NUCLEAR POLICY
"it is imperative that new energy policy goals and directions are set so as to better accomplish carbon neutral government projects and the expansion of nuclear power."
SOUTH STREAM: STROYTRANSGAZ LEAVES
2022, July, 6, 10:50:00
RUSSIAN NUCLEAR FOR ARMENIA
The joint working group was chaired by Armenia’s Deputy Minister of Territorial Administration and Infrastructures, Hakob Vardanyan. The Russian delegation was headed by Viktor Kolesnikov, project manager and Advisor to the President of Rusatom Energy Projects.
SOUTH STREAM: STROYTRANSGAZ LEAVES
2022, July, 6, 10:45:00
IRANIAN NPP 360 MW
At the moment, the only functioning nuclear power plant in Iran is the first stage of the Bushehr NPP, built with Russian assistance.
SOUTH STREAM: STROYTRANSGAZ LEAVES
2022, July, 5, 12:35:00
OIL PRICE: BRENT NEAR $113, WTI ABOVE $109
Brent fell by 60 cents, or 0.5%, to $112.89 a barrel, WTI climbed $1.13, or 1.1%, to $109.58 a barrel.
SOUTH STREAM: STROYTRANSGAZ LEAVES
2022, July, 5, 12:30:00
RUSSIA, INDIA: RELIABLE PARTNERS
Many of our companies, including energy companies, are operating in Indonesia. There is interest in developing the national nuclear power industry.
All Publications »