Money Buzz! Europa

Tag: natural gas

  • Greece started to receive natural gas from Azerbaijan

    Greece started to receive natural gas from Azerbaijan

    Greece started to receive natural gas from Azerbaijan, as the Trans Adriatic Pipeline (TAP) is ready, the director of the national natural gas company DEPA, Konstantinos Xifaras, told DPA on Thursday.

    ”The start of deliveries is a turning point,” said Konstantinos Xifaras.

    Earlier, Bulgarian Prime Minister Boiko Borisov also announced that Bulgaria had begun receiving Azerbaijani natural gas from the Caspian Sea, an important step towards diversifying energy supplies.

    The Trans Adriatic Pipeline (TAP) is the first non-Russian pipeline to supply Europe after the Medgaz connection. In 2011 began delivering gas from Algeria to Spain.

    The $ 40 billion project, which stretches for 3,500 kilometers and connects the Shah Deniz II field in the Caspian Sea and Italy, passing through Georgia, Turkey, Greece, Albania and the Adriatic Sea.

    With a length of 870 kilometers, the Trans Adriatic Gas Pipeline (TAP) will be the last section of this corridor and will allow the transport of natural gas from Turkey to Italy, via Greece and Albania.

  • Bulgaria to receive one bln cubic meters of gas per year from Azerbaijan

    Bulgaria to receive one bln cubic meters of gas per year from Azerbaijan

    Bulgaria will start to receive natural gas from Azerbaijan from January 1, 2021, Bulgarian authorities announced.

    According to the 25-year contract signed between Bulgargaz and the Azerbaijani company Socar, one billion cubic meters of gas per year will be delivered to Bulgaria from the Shah Deniz field 2.

    By October 2021, natural gas will reach Bulgaria through a temporary delivery point – Kulata – which connects the TAP gas pipeline to the Greek national system.

    Meanwhile, work will continue on the Greece-Bulgaria gas interconnector, which was delayed by the effects of the coronavirus pandemic (COVID-19).

  • Polish PGNiG Group to buy Danish natural gas from Ørsted

    Polish PGNiG Group to buy Danish natural gas from Ørsted

    Polish Oil and Gas Company (PGNiG) and Ørsted A/S have signed a multi-year contract for the sale and purchase of natural gas.

    The agreement covers a total volume of approx. 70 TWh (6.4 bcm) to be supplied between January 1st 2023 and October 1st 2028.

    Denmark is linked to Germany via the interconnector at Ellund and will be linked to Norway and Poland via the Baltic Pipe which is currently under construction.

    Under this agreement, Ørsted will resell some of the natural gas that it receives from the Danish part of the North Sea to PGNiG, e.g., from the Tyra field, which is Denmark’s largest gas reservoir.

    Currently, the Tyra platform is under redevelopment to extend its operational life by at least 25 years. For this reason, production from Tyra was halted in 2019 and is expected to resume in 2022.