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    <title>Bulgarian Petroleum and Gas Association</title>
    <link>http://bpga.net</link>
    <description>Bulgarian Petroleum and Gas Association</description>
    <category>News</category>
    <managingEditor>plamen.nikolov@wizzard.bg (Wizzard)</managingEditor>
    <webMaster>plamen.nikolov@wizzard.bg (Wizzard)</webMaster>
    <copyright>Copyright 2010, BPGA</copyright>
    <ttl>60</ttl>
    <pubDate>Wed, 18 Apr 2012 15:36:39 +0300</pubDate>
    <item>
      <title>Russian fuel retailer Lukoil targets Western Europe</title>
      <link>http://bpga.net/en/news/view/130</link>
      <description><![CDATA[The deals were signed between Lukoil Belgium and Verolma Group.&ldquo;The transaction is to be finalized in the second quarter of 2012 after the appropriate permissions are granted by the Dutch and Belgian regulating authorities,&rdquo; Lukoil said in a statement. The acquired filling stations use different brands in their operation and will be rebranded to comply with the Lukoil corporate style after the deal is closed.]]></description>
      <pubDate>Wed, 18 Apr 2012 15:30:00 +0300</pubDate>
      <guid>http://bpga.net/en/news/view/130</guid>
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      <title>Fuel prices are complex, but not mysterious</title>
      <link>http://bpga.net/en/news/view/128</link>
      <description><![CDATA[Higher fuel prices take a bite out of the household budgets of families nationwide. Every 1-cent increase in the retail price of fuel translates into about $1 billion annually in higher costs for American consumers.If the nation truly wants to address the wild roller coaster of price swings, it's important to understand the factors that affect prices. First, fuel is refined from crude oil, whose price is determined by buyers and sellers globally. They negotiate oil contracts based on their perceptions of oil's economic value in the marketplace. Political instability, oil supply disruptions, foul weather and many other factors affect global oil prices. Also, oil is priced in U.S. dollars. As the value of the dollar changes, oil prices fluctuate.The price of fuel historically has closely tracked the price of crude oil. The Department of Energy, or DOE, says 76 percent of fuel prices are attributed to the price of oil, while the rest is taxes, the cost of refining, marketing and transporting the fuel to service stations and profits. During the past five years, oil companies earned 7 cents in profits per dollar of sales, which is in line with other industries' profit margins.Fuel prices vary from state to state and country to country due to a variety of factors including taxes. The US federal tax on fuel is 18.4 cents per gallon, and state or country taxes vary widely. Motorists in New York pay a total of 67.4 cents in taxes per gallon, for example, whereas Alaska motorists pay 26.4 cents per gallon.Every spring, fuel refiners must comply with federal and state regulations that require them to produce seasonal blends that evaporate less during the warm weather months. Summer-grade fuel costs more to produce than winter-grade fuel, and that puts upward pressure on prices. Federal and country laws also requires ethanol to be blended with gasoline. Since most ethanol in the United States is made from corn, corn prices also have an impact on pump prices.Finally, the laws of supply and demand play an important role in fuel prices. Simply put, oil supplies matter. Larger supplies of secure oil - oil that won't be withheld from the market for political reasons - can result in lower retail gas prices at the pump.The importance of secure oil cannot be overstated. It's quite likely that oil and fuel prices would decline over the long term if more oil were produced domestically and Canadian oil were allowed to flow freely through the rejected Keystone XL pipeline. In fact, just imagine how different the U.S. economy and the energy situation would be today if, 30 years ago, our elected officials had allowed drilling in the oil-rich areas of Alaska, along the West Coast, the East Coast and in the eastern Gulf of Mexico. Instead, they chose to block access to those supplies, keeping us dependent on foreign oil from politically unstable countries.The US administration has launched 10 different initiatives to study or establish new regulations on hydraulic fracturing. Furthermore, oil production on federal lands -- the areas controlled by the administration - fell by 14 percent in 2011, the largest annual decrease in a decade. At the same time, the administration is subsidizing alternative energy companies that claim they can produce energy competitively.Our economy runs on oil, and DOE forecasts suggest that oil will be the "fuel of the future" and continue to play an important role in our energy mix for decades to come. Today, there is nothing that provides as much energy bang for the buck as the traditional crude. Basic economics tell us that if we had more of it, our bucks would go a lot further]]></description>
      <pubDate>Tue, 17 Apr 2012 16:10:00 +0300</pubDate>
      <guid>http://bpga.net/en/news/view/128</guid>
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      <title>New Shell Nitrogen Enriched Gasolines address changes in car engine technologies and consumer needs</title>
      <link>http://bpga.net/en/news/view/124</link>
      <description><![CDATA[&nbsp;With advanced engine technologies coming to the market and with consumers holding on to their existing vehicles longer, it is becoming increasingly important for consumers to protect their vehicles, which is typically their second largest investment.
Carbon deposit build-up or "gunk" on critical engine parts is the result of various chemical processes that occur in the engine during its normal operation. The engine gunk can make your engine less efficient over time by acting like a sponge absorbing and trapping gasoline on intake valves, and impairing the flow of gasoline through fuel injectors.The new formulation from Shell delivers 20 percent more active cleaning agents than before, designed to protect the engine's intake valves and fuel injectors from performance-robbing gunk. So no matter what you drive, no other gasoline protects your engine better than the new Shell Nitrogen Enriched Gasolines. New patented cleaning agent addresses newer engine technologiesAccording to industry forecasts, new vehicle production with advanced engine technologies will show sizable increases in the coming years. In fact, in the next four years, the number of vehicles with direct injection engines will more than triple from the 10 percent reported in 2010, while IHS Automotive predicts that one fifth of all North American-produced engines will be turbocharged or supercharged in the next two years. These newer engine technologies are generally more sensitive to the build-up of gunk, which can negatively impact the engine's performance even more than in conventional engines. And, newer engine technologies can be subject to greater heat and pressure, which can cause cleaning agents found in lower quality gasolines to break-down and reduce their effectiveness. The new Shell Nitrogen Enriched Cleaning System is designed to maintain thermal stability and work under extremely hot engine temperatures, actively protecting the engine against performance-robbing gunk. Improved protection benefits for consumers holding onto vehicles longer While newer cars are boasting advanced engine technologies, many Americans are keeping their existing cars even longer. According to a recent analysis of national vehicle registration data, the average length of ownership has increased more than 50 percent in the last decade with the average age of vehicles on the road up to almost 11 years. As a result, consumers are increasingly focused on protecting and maintaining their vehicles and should be more conscious about the quality of the products they put into their vehicles to help protect that investment for the long haul.No other gasoline protects better"Whether it's a new car with an advanced engine technology or an older one that is needed for continued use over the long haul, today's drivers need protection from engine gunk," said Dan Little, North America Fuels Marketing Manager, Shell Oil Products US. "Knowing this, Shell set out with our research teams and with input from leading automakers and other stakeholders to design a formulation to meet the needs of today's consumer and protect critical engine parts, no matter what they drive." For those drivers who simply expect the most from their vehicle's performance, especially those with vehicles whose manufacturers recommend or require a premium gasoline, try Shell V-Power&reg; Premium Gasoline. The new formulation boasts the highest concentration of the NEW Shell Nitrogen Enriched Cleaning System designed to clean an engine's intake valves from performance-robbing gunk even faster than regular Shell gasolines. Shell makes it easier for consumers to save at the pumpShell recognizes that consumers are concerned with rising prices at the pump and want the most value for their money. Since 2009, Shell has been teaming up with many of the nation's leading grocers to make it easier for consumers to save on high-quality fuels at Shell by redeeming their grocery loyalty card rewards at the pump. And, today Shell has alliances with leading grocers in more than 130 markets coast-to-coast, so it's never been easier for consumers to save at the pump. All they need to do is make qualifying purchases at participating grocery stores by using their existing loyalty rewards card and they earn rewards that can be redeemed at participating Shell stations. Shell also wants to remind drivers that they can save at the pump by using one of the many Shell payment options designed to address the diverse financial needs of today's consumers. Credit cards, such as the Shell Drive for FiveSM Card, allow cardholders the opportunity to save five cents per gallon on all three grades of the NEW Shell Nitrogen Enriched Gasolines as well as Shell Diesel. The Shell $aver CardSM is another option that links directly to the cardholder's checking account, providing a hassle free way to save at the pump without incurring fees.]]></description>
      <pubDate>Tue, 13 Mar 2012 13:21:00 +0200</pubDate>
      <guid>http://bpga.net/en/news/view/124</guid>
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      <title>Rompetrol expands business in Bulgaria</title>
      <link>http://bpga.net/en/news/view/126</link>
      <description><![CDATA[According to the Rompetrol management, there is increased interest from owners of smaller, independent fuel stations in Bulgaria (the so-called "white" stations, which are not part of large networks) to join the Romanian business as franchise partners, meaning its network in the country could expand even further."The share of independent petrol stations is about 70% of all stations. In order to operate according to amendments to Bulgarian legislation, smaller fuel merchants need to be in partnership with large fuel retailers. We expect a significant market movement and promise that Rompetrol is ready to accept and work under the new conditions," says the Commercial Director of Rompetrol Bulgaria, Stanimir Smilkov.The company's goal is to reach an 8% share of the fuel retail market in the country within the next few years.]]></description>
      <pubDate>Tue, 06 Mar 2012 13:32:00 +0200</pubDate>
      <guid>http://bpga.net/en/news/view/126</guid>
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      <title>Shell UK acquires the Snax 24 consortium</title>
      <link>http://bpga.net/en/news/view/89</link>
      <description><![CDATA[&ldquo;The deal with the Snax 24 Consortium fits Shell&rsquo;s global Downstream strategy of pursuing opportunities in selected markets where we see prospects for growth,&rdquo; said Mark Williams, Downstream Director.&ldquo;Shell is pleased to be investing in our retail business in the UK, a very competitive market,&rdquo; said John Bullock, Shell&rsquo;s Executive Vice-President, Retail. &ldquo;With this improved network of petrol stations , Shell will be able to provide more people with a top quality customer offer including quality branded fuels, in a convenient location and at a competitive price, helping us compete for the long term.&rdquo;The deal with the Snax 24 Consortium marks the biggest single expansion of Shell&rsquo;s petrol station network in the UK, where the company has marketed quality fuels to motorists for nearly 100 years. Most recently, UK motorists responded positively to Shell&rsquo;s new regular fuel, Shell FuelSave, which was introduced in 2010 to complement Shell&rsquo;s premium fuels offer Shell V-Power.The addition of the new stations &ndash; which are mostly in the Midlands and South East of England and fit well with Shell&rsquo;s existing national network &ndash; will enhance Shell&rsquo;s position as a leading fuels retailer in the UK, with 1,150 stations.Completion of the agreement is expected around year-end subject to the satisfaction of regulatory and other conditions]]></description>
      <pubDate>Thu, 23 Jun 2011 11:28:00 +0300</pubDate>
      <guid>http://bpga.net/en/news/view/89</guid>
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      <title>Shell opens third hydrogen station in Southern California</title>
      <link>http://bpga.net/en/news/view/84</link>
      <description><![CDATA[&nbsp;Excess hydrogen is typically available on the hydrogen pipelines used by oil refiners. Hydrogen is used to provide cleaner gasoline and diesel. Although hydrogen is most often reformed from natural gas, it is also available from the electrolysis of water, wastewater treatment byproduct, and chemical plant byproduct.Southern California has been the center for test deployment of hydrogen fuel cell cars. The West Coast has been the area of greatest use of hydrogen fuel cell buses, including the 20 hydrogen buses in Whistler, Canada that transported about 100,000 visitors during the last Winter Olympics.Hydrogen fuel cell cars provide a way to give an electric car a range of up to 400 miles with hydrogen PEM fuel cells that supply added electricity to an electric drive system. GM successfully piloted 100 Equinox fuel cell vehicles during its Project Driveway. Toyota is planning to test 100 new fuel cell SUVs as it prepares for 2015 commercialization, the Toyota FCHV Test Drive. 200 of the new Mercedes-Benz B-Call F-CELL are being put into use. Several automakers are targeting 2015 for the commercialization of fuel cell vehicles]]></description>
      <pubDate>Wed, 25 May 2011 10:20:00 +0300</pubDate>
      <guid>http://bpga.net/en/news/view/84</guid>
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      <title>ЕКО fuel station chain launches unleaded gasoline 95EKONOMY, that lowers the car fuel consumption with 2 %</title>
      <link>http://bpga.net/en/news/view/82</link>
      <description><![CDATA[The new fuel brand of EKO includes in its formula the additive KEROPUR, produced by the world&rsquo;s leader in the chemicals production BASF. 95EKONOMY will be offered in the network of EKO fuel stations from 12.05.2011.
EKO fuel stations are the only chain in Bulgaria currently offering enriched fuel at the price of the standard common unleaded gasoline with octane number 95. &bdquo;The new product 95EKONOMY offers higher quality to our clients and lower their expenses for fuel at the same time. The consumers save with it and gave more choice&rdquo;, said Yannis Polykandriotis, CEO of EKO Bulgaria.
95EKONOMY is a result of the international cooperation of Hellenic Petroleum Group, part of which is the EKO chain, with the biggest chemicals producer in the world BASF. The additive KEROPUR&reg;, created by the company, saves the engine maximally clean by removing the old deposits in it and protect creating new ones. The fuel with KEROPUR&reg; provides a long-term protection from corrosion of the engine components, which optimizes the maintenance costs.
The consumption of less fuel also lowers the carbon emissions in the atmosphere, while driving experience is more pleasant thanks to the better functioning of the car engine.
With the new unleaded gasoline 95EKONOMY, EKO fuel stations enrich their portfolio of products in the EKO network. Since 2004, EKO offers on the Bulgarian market fuels with the trade mark KINITRON &ndash; UNLEADED 100Speed, UNLEADED 95 Plus and DIESEL PLUS. EKO KINITRON starts a new period of fuel market development. Those fuels not only cover all standards of the EU, but are friendlier for the environment, because they lower harmful atmosphere emissions.&nbsp;
* &ldquo;Loaded car tank&rdquo; means a tank with capacity of 50 liters. The comparison refers to the results of tests of conventional gasoline 95EKONOMY and 95 with a unique additive. The amount of savings may vary in different types of cars depending on driving.
&nbsp;
---
EKO fuel stations EKO fuel stations are owned by EKO Bulgaria EAD. The company is present on the Bulgarian market since July 2002 and is part of the biggest industrial and trade corporation in Greece - Hellenic Petroleum Group. In Bulgaria EKO operates with network of 81 fuel stations &ndash; Sofia, Аheloi, Bansko, Blagoevgrad, Bourgas, Varna, Veliko Tarnovo, Gorna Oriahovitza, Gotse Delchev, Dimitrovgrad, Dobrich, Dupnitsa, Кresna, Кula - Vidin, Кulata, Кjustendil, Моntana, Pazardjik, Pleven, Pernik, Petrich, Plovdiv, Rousse, Svilengrad, Svoge, Sliven, Stara Zagora, Haskovo and Shoumen.&nbsp; 
За BASF
BASF is a leading global chemical company. Its portfolio includes from chemicals, plastic, enriching products, to products for the agriculture, delicate chemicals, raw oil and natural gas. As a reliable partner BASF helps its clients become more successful in practically all fields of industry. With its high-quality products and solutions BASF has an important role in finding solutions for global challenges such as climate protection, energy effectiveness, nutrition and mobility. BASF has about 109.000 employees and sales for about 63.9 billion euro for 2010. The shares of BASF are traded on the stock exchanges in Frankfurt, London and Zurich. Additional information about BASF can be found at www.basf.com.]]></description>
      <pubDate>Thu, 12 May 2011 11:26:00 +0300</pubDate>
      <guid>http://bpga.net/en/news/view/82</guid>
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      <title>The European Road Safety Charter. Now in Bulgaria!</title>
      <link>http://bpga.net/en/news/view/70</link>
      <description><![CDATA[Those organizations will sign the charter in the presence of the Minister of Transport, Information Technology and Communications of Bulgaria &ndash; Mr. Aleksandar Tsvetkov, Mrs. Dora Krumova from the Representation of EC in Bulgaria and Mrs. Martine Aitken, European Road Safety Charter coordinator.
&nbsp;
The European Road Safety Charter was created in 2004 by the European Commission with the declared purpose to support any kind of initiatives that will be carried outin order to contribute to the EC objective: to halve the number of fatalities on European roads. By January 2011, more than 2 000 stakeholders have signed the charter and committed to undertake actions&nbsp;&nbsp; providing a concrete response to road safety problems they encounter in their daily work and lives. 
&nbsp;
European Commission&rsquo;s statistics for 2009 show that on the roads in Bulgaria 118 people were killed per 1 million inhabitants. Even though Bulgaria has made positive steps forward with regard to reducing fatalities, for the period between 2001 and 2009 road fatalities have been lowered with only 11% which is lower than the European average of 35%.
&nbsp;
Therefore continued efforts are needed. Between 2007 and 2010, 38 organizations had signed the charter in Bulgaria. 13 of them will renew their commitment during the event. Together with the new signatories, there will be a total of 65 Bulgarian organizations &ndash; associations, large companies, SMEs and public authorities &ndash; that demonstrate a real commitment to improve Road Safety.
&nbsp;
The ceremony and signing event will take place at the Grand Hotel Sofia from 11:30 to 13:00, followed by informal networking opportunity with light refreshments.
&nbsp;
The European Commission will also be holding a Citizens&rsquo; forum on the 21st of February 2011 between 17.00 and 18.00 where it intends to gain information and opinions regarding citizens views and concerns on road safety which will be fed directly back to the European Commission, Road Safety Unit.
&nbsp;
More about: http://www.erscharter.eu/events/19791]]></description>
      <pubDate>Mon, 21 Feb 2011 11:37:00 +0200</pubDate>
      <guid>http://bpga.net/en/news/view/70</guid>
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      <title>Rompetrol to Focus on Balkan, CIS as Parent Boosts Production</title>
      <link>http://bpga.net/en/news/view/52</link>
      <description><![CDATA[The Amsterdam-based company, which is wholly owned by KazMunaiGaz National Co., will close its four Albanian units it and increase activities in Georgia, Moldova, Bulgaria, Ukraine, Serbia and its home market in Romania, Rompetrol Chief Executive Officer Saduokhas Meraliyev said in a Nov. 26 interview.
KazMunaiGaz, which pumps a quarter of Kazakhstan&rsquo;s oil output, is working to raise oil production to 25 million metric tons by 2015 from 18.7 million tons last year. A stronger presence in the Balkans and elsewhere in east Europe, through its Rompetrol subsidiary, and in Asia will help the company boost profits, said Meraliyev.
&ldquo;We decided to streamline our operations&rdquo; to focus on more-profitable markets, Meraliyev said. &ldquo;This restructuring project touches our activities in five countries and all the business entities there, and 2012 is our target to accomplish that.&rdquo;
Kazakhstan&rsquo;s state-owned oil and gas company bought 75 percent of Rompetrol Group, which was valued at $2.7 billion, in August 2007 to gain a &ldquo;footprint in important downstream markets in Europe,&rdquo; and double its refining capacity. In 2009, it bought the remaining 25 percent from the previous owner, Dinu Patriciu, Romania&rsquo;s richest man, according to Forbes.
Loan Payback
The Kazakh owner is pressuring Rompetrol to return to profitability as a $1 billion loan approved last year has to be paid back by August. Chief Financial Officer Dmitry Grigoryev said in a Nov. 19 interview that the Romanian unit will miss the break-even target for next year, posing a group loss of about $40 million for that year.
To help improve its productivity, Rompetrol plans to use as much as $350 million by October 2011 to upgrade its Petromidia refinery, which is 45 percent owned by Romania, and boost capacity to 5 million tons per year from 3.6 million tons now.
Domestically, Rompetrol has &ldquo;huge ambitious plans,&rdquo; he said. It plans to have 170 gas stations of its own by 2014, compared with 131 now and 800 points of sale with its distributors and partners. That compares with its main competitor, OMV Petrom SA, which has a total network of 546 distribution stations, and OAO Lukoil of Russia with 310 stations, he said.
Expansion &lsquo;Idea&rsquo;
&ldquo;Our idea is to expand, especially in Bucharest,&rdquo; Meraliyev said. &ldquo;Now we are struggling to get the construction permits.&rdquo;
Across the Balkans, the group owns 48 units. It is seeking to cut the size of the network by merging or closing 14 companies &ldquo;in the near future,&rdquo; he said.
It also plans to upgrade a terminal for loading and uploading oil in Bulgaria, where it has &ldquo;very good results,&rdquo; and is looking at the possibility to increase its capacity if the Kazakh owner approves a plan to enter the Serbian market, Meraliyev said.
&ldquo; There is some intent by the Serbian government to open the gasoline market, which is prohibited today because they use the products from Serbian refineries,&rdquo; said Meraliyev. &ldquo;Already we have prepared a short list of three potential partners for that.&rdquo;
&lsquo;Attractive Market&rsquo;
Rompetrol also wants to increase its activities in Ukraine, which is a &ldquo;very attractive market,&rdquo; though it has problems with loading and unloading products in that country&rsquo;s ports, he said. It is also satisfied with developments in Georgia and plans to increase the number of gas stations in Moldova to 60 by the end of next year from 40 stations now.
The company is ready to support a planned $3.5 billion oil pipeline from the Black Sea port of Constanta to Trieste in Italy, he said, and plans to use its existing marine terminal in Navodari as a starting point for the project.
In 2007, Serbia, Croatia, Romania, Slovenia and Italy agreed to build the 1,400-kilometer (870-mile) pipeline. Rompetrol can accommodate 24 million tons of oil per year through that terminal and needs only 5 million tons for its own production, said Meraliyev. The rest can be sold off to other local producers.
&ldquo;It&rsquo;s our dream, it&rsquo;s my dream and we share our vision with the authorities,&rdquo; Meraliyev said.
--Editors: James M. Gomez, Douglas Lytle
To contact the reporters on this story: Andra Timu in Bucharest at atimu@bloomberg.net Irina Savu in Bucharest at isavu@bloomberg.net;]]></description>
      <pubDate>Wed, 08 Dec 2010 15:41:00 +0200</pubDate>
      <guid>http://bpga.net/en/news/view/52</guid>
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      <title>Bulgarian Government gives go-ahead to South stream pipeline</title>
      <link>http://bpga.net/en/news/view/44</link>
      <description><![CDATA[&nbsp;
&nbsp;During its regular meeting on Wednesday, the government decided in favor of the setting up of a joint venture with Gazprom for the construction of the Bulgarian route of South Stream. 
&nbsp;The actual agreement is to be signed during the upcoming visit of Russian Prime Minister Vladimir Putin to Sofia on Saturday, November 13, 2010. 
&nbsp;Gazprom and the Bulgarian Energy Holding (BEH) each will have a share of 50% in the joint venture, which will manage the construction and the operation of the Bulgarian section of South Stream. 
&nbsp;Last week, the Bulgarian Energy Holding and Gazprom have announced the start of a tender to select a company to carry out a preliminary investment study for the construction of the South Stream gas pipeline on Bulgarian territory. 
&nbsp;The start of the tender was announced Thursday by the press office of the Bulgarian Energy Holding, a state-owned mega-structure. 
&nbsp;The long-anticipated first specific step towards the realization of the Russian-sponsored project South Stream came after months of uncertainty about the fate of the project amidst rough talks between the Borisov Cabinet in Bulgaria and the Putin-led leadership in Moscow. 
&nbsp;Russian Prime Minister Vladimir Putin will visit Sofia on November 13, 2010, for talks not just on South Stream but also on other large-scale energy projects &ndash; the Belene nuclear power plant and the Burgas-Alexandroupolis oil pipeline. 
&nbsp;The South Stream gas transit pipeline is supposed to be ready by 2015. Its construction is expected to cost between EUR 19 B and EUR 24 B. It will be transporting 63 billion cubic meters of natural gas annually, or 35% of Russia's total annual natural gas export to Europe. 
&nbsp;The South Stream pipe will start near Novorosiysk on the Russian Black Sea coast, and will go to Bulgaria's Varna; the underwater section will be 900 km&nbsp;long. 
&nbsp;In Bulgaria, the pipe is supposed to split in two - one pipeline going to Greece and Southern Italy, and another one going to Austria and Northern Italy through Serbia, Croatia and Slovenia. 
&nbsp;The project was initiated by Gazprom and the Italian company Eni, and the French company EdF is also planned to join as a shareholder. It is seen as a competitor to the EU-sponsored project Nabucco seeking to bring non-Russian gas to Europe. 
&nbsp;As early as April 2010, Russian Prime Minister Vladimir Putin announced that the French company EDF will also become a partner in the South Stream project. Back then he said that EDF asked for a 20% share, which, if granted, will probably leave Gazprom and Eni with 40% each. 
As early as April 2010, Russian Prime Minister Vladimir Putin announced that the French company EDF will also become a partner in the South Stream project. Back then he said that EDF asked for a 20% share, which, if granted, will probably leave Gazprom and Eni with 40% each. 
&nbsp;At&nbsp;a recent meeting&nbsp;in St. Petersburg, Berlusconi and Putin welcomed the idea of having German companies join in as shareholders. There is no indication as to how the joining of RWE or some other German company would re-apportion the stakes. 
&nbsp;The ownership of the&nbsp;Russian-Bulgarian joint company to build and manage the Bulgarian South Stream section will be split 50-50%. 
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      <pubDate>Fri, 12 Nov 2010 10:05:00 +0200</pubDate>
      <guid>http://bpga.net/en/news/view/44</guid>
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      <title>Chevron wants to help Bulgaria diversify gas supply</title>
      <link>http://bpga.net/en/news/view/41</link>
      <description><![CDATA[Speaking in an interview for nationally-aired BTV channel Sunday evening ahead of the visit of Russian PM Vladimir Putin next Saturday, Warlick stated that this need not come at the expense of good ties with Russia.
&nbsp; Nevertheless, it is in Bulgaria&rsquo;s interest to have own sources of energy, said the US diplomat, pointing out in particular shale gas and the interest of oil and gas giant Chevron in exploring. 

&nbsp;&ldquo;Chevron has been expressing a strong interest in exploring for shale gas since May, and it is still waiting to receive a permit,&rdquo; complained Warlick, counseling the Bulgarian cabinet to extend the permit as soon as possible. 

&nbsp;As things stand, Bulgarian legislation, in particular the Law on Underground Resources, requires that permits for exploration for oil and gas be issued after a formal contest and cannot just be granted at will. 

&nbsp;According to Warlick, Chevron&rsquo;s own estimates are that some 20-25 B cubic meters of shale gas might be lying untapped in Bulgaria, which would satisfy domestic demand for some 7 years. 

&nbsp;The US diplomat advised Bulgaria to take advantage of the new opportunities that shale gas gives, which could transform the local gas market as they have already done in the States. 

&nbsp;Saturday Russian PM Putin and Bulgarian counterpart Boyko Borisov are expected to discuss major joint energy projects, such as the South Stream natural gas pipeline and the Belene NPP. 

&nbsp;





]]></description>
      <pubDate>Tue, 09 Nov 2010 10:44:00 +0200</pubDate>
      <guid>http://bpga.net/en/news/view/41</guid>
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      <title>Conclusions at Stakeholder Conference on preparation of Energy Strategy 2011-2020</title>
      <link>http://bpga.net/en/news/view/33</link>
      <description><![CDATA[Four guiding principles1. The new strategy must build on what has been achieved in the last years,notably on the basis of the energy and climate package.2. The strategy should embrace the longer term vision of a largely decarbonisedeconomy by 2050. As such, many decisions between now and 2020 will shape the 2050energy mix.3. Major investment decisions of radical strategic importance need to be taken inthe coming years. Parts of the EU could lose more than one third of theirgeneration capacity before 2020, while the demand for electricity is growing.Enthusiasm for renewable energy has been hard hit by the economic crisis. New gasimport networks will be needed to replace falling domestic output and diversifysupply. The new strategy must create the confidence and stability to underpinthese investment decisions.4. On energy efficiency, National Energy Efficiency Action Plans have beendiscouraging, leaving vast potential untapped. The move towards renewable fuelsin transport is also happening too slowly. Internationally, global energy marketsare becoming tighter, with developing Asian countries and the Middle Eastaccounting for most of the growth in global demand. Yet the EU still hesitates tocommit itself to a coherent and common external voice.Five priorities1. Putting a spotlight on demand. A new market for energy efficiency is needed aswell as a new grass-roots demand for energy saving equipment and services.Average energy savings per household can amount up to &euro; 1000. Time has come todeliver on this to EU citizens. The Commission's priority is therefore to launcha new Energy Efficiency Action Plan.2. Improve conditions for investments in low-carbon energy in order to lookforward to a real energy revolution. Over the next 20 years, one trillion eurosworth of investments in the energy sector will be needed. To replace large partsof our power generating capacity, we need to completely renew our electricitynetworks to cope with a much larger renewable production, and more decentralisedpower production. New import pipelines such as Nabucco have to be build todiversify and strengthen our gas supply.3. Europe's lead in technology should be extended, i.e. develop a Europeanframework which encourages Member States and regions to maximise their efforts toaccelerate market intake of technologies. Beyond the implementation of theStrategic Energy Technology Plan, a few large scale European projects such as onstorage, second generation biofuels and smart grids should be launched.4. Improve the implementation of the internal energy market and make sure thatconsumers get a good deal, as well as, reassure individuals that energy systemsare safe. Safety of oil and gas production and transport must be guaranteed. TheEU must continue to work for high standards of safety, security andnon-proliferation of nuclear both in Europe and internationally.5. External dimension of the internal market. National sovereignty in energy isno longer an option when we have a single internal energy market, stretching fromthe Balkans to Scandinavia, from the Baltic to the Mediterranean. The energysecurity of every Member State will be stronger and cheaper when the EU learns tospeak with a single voice and leverage its real power.ConclusionsThe 2011-2020 is about the actions to be undertaken in the coming eighteen monthsto realise our 2020 goals.European cooperation in energy is not yet fully mature. But further integrationin energy policy really is the only way forward. It has started working forrenewables policy, for the internal market, emergency situations, such as the gascrisis in January 2009. Now it has to work continuously across the whole energyspectrum, across the whole economy and for the longer term.]]></description>
      <pubDate>Fri, 08 Oct 2010 14:54:00 +0300</pubDate>
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