Nabucco pipeline

Russian energy giant Gazprom has tabled a new option to revive the South Stream pipeline, local media report.

Alternative routes are being studied for South Stream and Nord Stream II which would possibly use private funding, instead of counting on EU support, Vesti Finance quotes Andrey Konoplyanik, adviser to the head of Gazprom Export, as saying.

The World Bank and the European Investment Bank are set to invest $1 billion and 1 billion euros, respectively, in the Trans-Anatolian Natural Gas Pipeline Project (TANAP) project, according to sources close to the matter. 

The TANAP project envisages gas transportation from Azerbaijan's Shah Deniz II field through Turkey and up to the country's border with Europe.

There are good prospects for renewal of negotiations on the South Stream gas pipeline project, Russian permanent envoy to the EU Vladimir Chizhov has announced.

TASS news agency quotes him as saying in a video conference call from Brussels, that, "in light of the need for Russian gas in the EU, there are such opportunities."

The European Commission has decided that the agreement between Greece and the Trans Adriatic Pipeline (TAP) joint venture to build a pipeline that will bring Caspian gas to Europe is in line with EU rules for state aid.

Tekfen Construction has won a supply and construction contract worth $457 million from the Trans-Anatolian Natural Gas Pipeline Project (TANAP) project, it said in a written statement on Feb. 17.

The company will complete the project in 39 months.

A total 11 companies won the right to bid in the tender, which was opened on June 26, 2015, according to a statement from TANAP. 

Bulgaria will receive an EU grant of EUR 850,000  for the rehabilitation, modernization and expansion of its gas transmission system under the Connecting Europe Facility (CEF), an EU funding programme for infrastructure.

Bulgaria will discuss with Russia the potential construction of a gas distribution center on Bulgarian territory in compliance with the European Union legislation later this month, the government in Sofia said on Wednesday.

Russia is ready to scale up natural gas supplies to Turkey, Russian Energy Minister Alexander Novak said on Dec. 28 in an interview with Rossiya 24 TV Channel. 

"Russia has gas. Russian gas is fairly cheap. We have relevant infrastructure and we are definitely ready to supply and increase gas supplies [to Turkey]," the minister said, as quoted by TASS News Agency. 

Bulgaria's state energy holding BEH and Greek-Italian joint venture ISI Poseidon signed on Dec. 10 a key investment deal to build a new pipeline linking Bulgaria and Greece's gas networks, officials said.

Turkish Prime Minister Ahmet Davutoglu has announced Turkey and Azerbaijan's intentions to complete the Trans-Anatolian Pipeline (TANAP) ahead of schedule.

Initial estimates had suggested the project would be completed by 2018.