Gazprom

BELGRADE - Serbian President Aleksandar Vucic requested on Tuesday that the government set up a troubleshooting team to act in case the US imposed sanctions on Serbia's majority Russian-owned oil company NIS.

Ukrainian Prime Minister Denys Shmyhal announced that Ukraine will not extend its current gas transit agreement with Russia, which is set to expire on January 1, 2025.

Bulgaria may halt the transit of Russian gas to Serbia via the TurkStream pipeline starting in the new year if Gazprom fails to ensure payment compliance with U.S. sanctions against Gazprombank.

The price of natural gas in Bulgaria is expected to rise by nearly 11% in December, reaching 76 leva per megawatt-hour before taxes and additional charges. During a public discussion at the Energy and Water Regulatory Commission (EWRC), Veselin Sinabov, the Executive Director of Bulgargaz, outlined the factors driving this increase.

Europe is heading into its coldest winter since the beginning of the war in Ukraine, with temperatures expected to stay below the levels seen in the past two years, according to the European Centre for Medium-Range Weather Forecasts. This shift is likely to drive heating demand to its highest level since Russia's invasion, with further pressure on energy supplies.

Turkey is in talks with the United States and Russia in an attempt to secure a US sanctions waiver so it can continue paying Gazprombank for Russian natural gas imports, Turkish authorities said.

Energy and Natural Resources Minister Alparslan Bayraktar emphasized the potential impact of U.S. sanctions on Russian energy company Gazprom, stating that Türkiye could be significantly affected if not granted an exemption.

A top military official with NATO called on businesses Monday to prepare for a "wartime scenario" by bringing their production lines back home instead of relying on China and Russia, which could shut off access after starting a war.

Gazprom, Russia's state-owned energy giant, has announced plans to sell several of its holiday resorts following its first annual loss in nearly 50 years, according to reports from Reuters. The company has listed 14 hotels and resorts for sale, including the Tsaghkadzor Marriott Hotel in Armenia's Valley of Flowers.

Hungary and Russia's energy giant Gazprom have signed an agreement allowing Budapest to fully utilize the TurkStream gas pipeline, Hungarian Foreign Minister Peter Szijjártó confirmed to RIA Novosti, as reported by Reuters. This arrangement enables Hungary to increase gas volumes purchased under its existing trade contracts, providing greater flexibility in its energy supply.