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Revithoussa LNG

  Last week the Bulgarian PM inspected work progress at the Interconnector Greece-Bulgaria, noting that it is a landmark project for energy security in the region. Two days later, he flew to Thessaloniki to meet the Greek PM and the US ambassador to Greece, repeating praise for Greek-Bulgarian cooperation in the energy field and commitment to buy more LNG.   DEPA, Kolmar, and the Bulgarian company Energiko have managed to import partial or fully LNG sourced gas into Bulgaria via the Greek terminal at Revithoussa. Due to outdated regulatory practice and lack of liberalization of the gas market, the margins between the “buy” and “sell” prices have been collected by the traders, including Bulgargas. Lower international prices of gas have failed to reflect into a proportionate decrease in gas prices

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Пребиваването в страната вече е комодизирано в Гърция. Ще се случи ли същото и с гражданството?

  Putting citizenship up for sale is a controversial endeavor.   Some natural-born citizens of a country might revolt against the idea of wealthy foreign investors purchasing what is essentially their birthright. Others may be opposed to the possibility of Chinese or nationals of another state pouring into their own country. There are also geopolitical risks to weigh when a country implements a citizenship by investment (CBI) program.   Some existing CBI programs, for instance, have lured Russian oligarchs. Notably, aluminum magnate Oleg Deripaska, an ally of Russian President Vladimir Putin, purchased Cypriot, and hence EU, citizenship through the CBI program in Cyprus.   Reuters reported earlier this month that Iranian nationals are making use of Turkey’s recently revamped economic citizenship program to dodge U.S. sanctions.   Additionally, there are

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GAZ 1

  The first non-binding phase of the market test for the capacities of the floating LNG terminal in Alexandroupolis has generated unexpectedly high demand – more than 12 billion cubic meters in bids, which is more than double the FNLG’s planned capacity of 5.5 billion cubic meters. Twenty companies submitted intent to book capacity.   In the next binding phase, the digits for capacity take-up will fall significantly, yet the message from the LNG gas market could not be more unequivocal – gas traders trust they can offer competitive prices for natural gas and gain market share in Southeast and Central Europe. In other words, they are confident that gas from the global LNG market can compete with Gazprom’s pipeline gas for the cash of customers.   Another important deduced

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gas to turkey 1

There is nothing kept secret that will not come to light. reads the Bible.   While in Moscow, Borisov and Putin agreed that Bulgaria should oppose the granting of extended powers to the European Commission to represent the Union in the legal and regulatory battle over the new infrastructure projects of Gazprom – Nord Stream -2 and the extension of Turkish Stream on EU territory.   The Bulgarian media overflow with superfluous analogies made to accommodate the political expediency of politicians betting on the Turkish and Nord Streams.   Germany claims to have been trying to justify engagement with Nord Stream – 2 on business grounds. The analogy goes that Sofia could join in Germany’s brokerage gas affair with Russia – a sheer fallacy, typical for politicians that defy market gravity, believing in the omnipotence of politician’s

Views:28849
Source: icgb.eu

  Shortly after President Aliev inaugurated the first phase of the Southern Gas Corridor and announced the opening of the TANAP pipeline on June 12th, Russia beefed up its wartime machine to block competition to its gas supplies in Turkey, Greece and Bulgaria. The timing of the agreement between the Turkish government and Gazprom on the onshore segment of Turkish Stream matched to the day the news from Azerbaijan. Ostensibly, this a legitimate defense of Gazprom’s market shares, having already lost substantial chunks in the diversified market of Turkey and Greece – where it accounts for 50-60% of the gas imports.   When the periscope moves on to Bulgaria – the bounty is a complete and seemingly durable monopoly. Yet, even in this small market, the Russian state company has

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Smyrna-massacre-refugees-1922_1

  There are historical events that are just that, vaguely-remembered memories of events past that are of interest mostly to professional historians. And then there are momentous events that shape a nation’s consciousness for better or worse for generations to come. One such event for the Greeks is the massacre at Smyrna at the end of WWI nearly a 100 years ago. Just in time to remind us of this consequential tragedy is a new book by the German historian, Heinz A. Richter, a rare impartial look at one of the events that colors Greek national identity like few others.[1] Nor is this reminder of historical significance alone. For it is the case that Turkey’s Islamist dictator, Erdogan and the subservient to him Islamist press, ever more openly question the

This entry was posted in Europe, The Region and tagged , by Alex Alexiev.

About Alex Alexiev

Alex Alexiev is chairman of the Center for Balkan and Black Sea Studies and the editor of the geopolitical website bulgariaanalytica.org. He tweets on national security at twitter.com/alexieff and could be reached at alexievalex4@gmail.com.
Views:2906
Junker

The article first published in americanthinker.com on 09/18/2017.   Commenting on Jean-Claude Junker’s state of the European Union speech last week, the usually restrained German economic weekly, Wirtschafts Woche, said the following: “Today the chief of the European Commission gave a great speech… a speech full of great nonsense.” What prompted that staid publication to use such undiplomatic language, especially since the European Parliament gave the speech a standing ovation? Hopefully, it is the realization of more and more Europeans that the cheap EU triumphalism and prescriptions peddled by Juncker are, at best, inappropriate and, at worst, a recipe for disaster.   Of triumphalism there was plenty in the speech. “The wind is back in Europe’s sails” Junker assured the audience and told it that the EU is “in the fifth year

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greece

Greece lied its way into the euro launch in 2001, cloaking its unsound public finances from the EU’s nearly blind eye. The boost to credibility allowed Greece to borrow its way to unsustainable growth and exorbitant spending. The financial crisis of 2008 tore away the façade. In October 2009 Greece revealed a budget deficit of 12.5% of GDP, later revised to 15.7%, and warned it would default absent substantial aid or debt forgiveness   It’s been downhill ever since, thanks to the EU’s good intentions. The EU and the ECB helped Greece to bury its debt problem. Yet Greek debt didn’t die. Instead it turned zombie. It rouses periodically to terrorize the living. It has now roused again—yields on two-year Greek bonds have jumped 400 basis points in the past

This entry was posted in Europe and tagged , , , , , by Kent Osband.

About Kent Osband

Dr. Osband is an American economist, strategist, financial risk analyst and longtime student of Bulgaria. He is the author of two well-known books on quantitative risk analysis (Iceberg Risk: An Adventure in Portfolio Theory and Pandora Risk: Uncertainty at the Core of Finance) and has served both in the public (IMF, WB) and private sectors (Goldman Sachs, CSFB, Fortress Investments).
Views:7276
gaz

  The new Russian pipeline projects – Nord Stream 2 and Turkish Stream – are designed to kill Ukrainian gas transit. However, there also is a collateral damage – the diversion of gas flows would significantly reduce transit volumes and hurt operators’ revenues in Slovakia, Romania, Bulgaria and Austria. Keeping Ukrainian transit alive is beneficial for all parties, except contractors of Gazprom.     Revenue of Slovak Eustream is already affected by higher utilization of the OPAL pipeline capacity recently permitted by the European Commission. In early January 2017, Gazprom and European operators reported record daily volumes of Russian gas delivered by Nord Stream. The flow reached 168 million cubic meters per day (mmcmd, at +20°C) compared with the average of 126 mmcmd of the first half of December[1]. Cold

This entry was posted in Europe, The Region and tagged , , , , , , , , , by Mikhail Korchemkin.

About Mikhail Korchemkin

Dr. Mikhail Korchemkin is the founder and managing director of East European Gas Analysis, a consulting company that specializes in cost-benefit and financial analysis of natural gas projects in the former Soviet Union. His previous experience includes performing numerous feasibility studies for the USSR Gas Ministry, predecessor of Gazprom. Prior to going into full-time consulting Mikhail taught at the University of Pennsylvania. He has also had visiting scholarships at Harvard University and Erasmus University in Rotterdam. Mikhail has consulted numerous corporate and governmental clients including ABN-AMRO Bank, Amoco, BP, British Gas, Chevron, Conoco, Ernst & Young, ExxonMobil, Gas Strategies, Gasunie, Neste Oy, Osaka Gas, OTA of the U.S. Congress, Ruhrgas, Shell, Statoil , Swedegas, Total, Vattenfall and The World Bank. He has acted as expert witness in arbitration cases concerning natural gas business in Russia and Eastern Europe.
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  During the Pan-Orthodox Council in Crete in June 2016, the Serbian Patriarch Irinej and the Romanian Patriarch Daniel responded negatively to only one of the proposals made by the Ecumenical Patriarch Bartholomew, namely to condemn nationalism in the Church which Bartholomew obviously saw as a Russian strategy to undermine Orthodoxy. The idea of condemnation of nationalism proved a serious problem for several Balkan churches unable to see further than the end of their nose. The misuse of nationalist ideas by the Balkan churches is a fact well known to analysts in Moscow and since the 19thc. it has been used cleverly to provoke internal conflicts in the Balkans only to weaken the region and make it an easy prey to Russian imperialist colonial interests.   Greece’s Disappointment   Despite