Region: Greece–Bulgaria interconnector emerges as main gas supply route Read More »
Between its launch in October 2022 and the end of October 2025, the Greece–Bulgaria Gas Interconnector (IGB) has transported more than 39 million MWh of natural gas northward into Bulgaria, along with nearly 2 million MWh sent back into Greece through virtual reverse-flow operations. In just the first ten months of 2025, over 8.4 million […]
Hungarian officials have confirmed that exploratory talks are underway on the possibility of oil and gas company MOL acquiring a stake in Serbia’s national oil company NIS. The information was disclosed by Gergely Gulyás, chief of staff to Hungarian Prime Minister Viktor Orbán, who stressed that discussions are still in an early phase. Gulyás noted
Hungary and Romania have reached an agreement to deepen cooperation on extending the operational lifetimes of their nuclear power plants—Paks in Hungary and Cernavoda in Romania. The announcement came from Hungarian Foreign Minister Peter Szijjártó during his visit to Bucharest, where he emphasized Romania’s growing strategic importance in Hungary’s overall energy security framework. Szijjártó stated
SEE electricity markets diverge: Prices ease, demand rises, wind power soars Read More »
During Week 47 of 2025, electricity prices in Southeast Europe (SEE) declined moderately across most markets compared to Week 46, largely due to falling gas prices. With the exception of Greece, all SEE markets posted weekly average prices above €100/MWh, while the regional average hovered around €110/MWh. Prices began the week at elevated levels, peaked
For more than half a century, the Balkans lived inside a predictable energy ecosystem: electricity from domestic coal, oil and gas pipelines dominated by Russia, and infrastructure built in the socialist era. But the past decade — and especially the post-2022 global energy upheaval — has shattered that old order. A new geometry is forming.
Region: MOL and Slovnaft accuse JANAF of undermining EU supply security Read More »
Oil companies MOL and Slovnaft have written to the European Commission’s Directorate-General for Competition to raise serious concerns over the conduct of Croatia’s state-owned pipeline operator JANAF, warning that its actions are undermining the security of non-Russian oil supplies. In their letter, the companies state that JANAF recently informed them it would accept already-purchased and
US energy giant Chevron is evaluating selective opportunities to acquire parts of the international portfolio of Russian oil company Lukoil, which is currently under US sanctions. The move comes after the US Department of the Treasury last week granted potential buyers permission to engage in preliminary discussions with Lukoil regarding its overseas assets. With this
Italy and Albania have formalized a new partnership aimed at strengthening the electricity network in northern Albania, a region still dealing with infrastructure issues caused by the 2019 earthquake. Albanian Energy Minister Belinda Balluku stated that the initiative will help provide more reliable electricity to the affected areas and contribute to broader goals of regional
Region: US extends license for Lukoil asset transactions until 13 December Read More »
The US Department of the Treasury’s Office of Foreign Assets Control has issued a new license allowing transactions related to the sale of Lukoil’s international assets to continue until 13 December. In addition, four Lukoil subsidiaries operating in Bulgaria have received authorization to maintain their activities until 29 April 2026. The same 13 December deadline
US private equity firm Carlyle is examining the possibility of acquiring segments of Lukoil’s international portfolio, as Washington intensifies sanctions on the Russian oil company in an effort to pressure Moscow toward negotiations over Ukraine. Lukoil represents about 2 percent of global oil production through its operations in Russia and abroad. The company has announced
