Ooni Koda
  1. Home
  2. /
  3. Newsfeed
  4. /
  5. The breakdown of Turkish-Russian relations is changing energy...

The breakdown of Turkish-Russian relations is changing energy security calculations in the Black Sea

January 7, 2016

Bulgaria has publicly broken ranks with states opposing the Nord Stream II project. Other are rumored to follow, namely Romania and Slovenia, http://neurope.eu/ informs. The main idea of Nord Stream II is to scale up the gras transfer capacity of an existing route via the Baltic Sea by a massive 55 billion cubic meters a year, circumventing most of Eastern Europe, to reach Germany directly. By the end of November, it appeared that Eastern Europe has a solid front against Nord Stream II. An open open letter opposing the plan was published on November 26th,apparently signed by Bulgaria, the Czech Republic, Estonia, Greece, Hungary, Latvia, Lithuania, Poland, Romania and Slovakia, arguing that the project would undermine EU norms. Ultimately, it was argued, Nord Stream II bundled upstream supply and distribution and, therefore, did not abide by EU regulation. Bulgaria has since denounced the letter. From a national perspective, there were two kinds of opposition. First, there are those who want to maintain the traditional Russian supply route. Ukraine and Slovakia stand to lose €2,6 bn a year in transit fees (1,8 bn/Ukraine; 800 million for Slovakia) and would have to pay heftier charges for their own supply. Secondly, there is an alternative project to the Nord Stream II project, namely Eastring, which plan to distribute LNG by linking Central with Southeastern Europe. That is a project favored by the Baltic States, including Poland. Prague is undecided, as it weighs the pros and cons of a traditional route via Bratislava and Nord Stream II. Germany supports the Nord Stream II project, which enhances its own energy security and geopolitical leverage. Bulgaria and Romania and, perhaps, Slovenia and the Former Yugoslav Republic of Macedonia stand to lose transit status leverage if a Russian pipeline in the Black Sea does not materialize. Following the collapse of the Turkish Stream project, it seems possible that an older South Stream route that will bypass both Ukraine and Turkey. That choice would make Bulgaria rather than Turkey the key partner for Russia. On Thursday, November 26th, the Russian Minister of development, Alexei Ulyukayev, said that Russia is cancelling Turkish Stream and on November 30th Gazprom announced it was freezing construction. Financially, however, a Black Sea route seems inescapable for Russia. Gazprom has spent €1.8bn on the pipeline to be laid under the Black Sea. And Gazprom has been developing a 2,506 kilometer ‘Southern Corridor’ overland infrastructure that ends up at the Black Sea port of Anapa. Billions have been already spent. If there is a route change, Bulgaria and Romania are poised to benefit from the breakdown of Turkish-Russian relations.

Read in full - click here
Taste of Transylvania holds underground edition at Romania’s Praid Salt Mine

Salina Praid, one of Europe's largest salt mines, will host Romania’s first underground gastronomic festival, Taste of Transylvania Underground, from March 28 to 30. The event will showcase top chefs from Romania and Hungary, including Michelin-starred restaurants, in an extraordinary setting 100 meters below ground, local news agency

Bucharest Coffee Festival holds 2025 edition this weekend

Bucharest Coffee Festival returns this weekend, from March 21 to 23, at Hala Laminor, bringing together coffee professionals and enthusiasts from Romania and abroad. The 2025 edition will host over 200 exhibitors, including producers, roasters, and distributors, across a 5,000-square-meter space. Attendees can explore a wide variety of specialty coffee, accessories, and brewing equipment, with […]

Romanian Consumer Protection unveils draft order forcing companies to make commercial markup public

The National Authority for Consumer Protection in Romania, or ANPC, has put forward for public consultation an order that will require economic operators to inform consumers about the commercial markup applied to marketed products, relative to the producer's base price. In the draft order, ANPC argues that the consumer’s right to information is a fundamental […]

Romania’s tax agency ANAF puts infamous Hexi Pharma factory up for sale

Romanian tax agency ANAF has put up for sale the factory of infamous disinfectant-maker Hexi Pharma. The company was involved in a major scandal regarding diluted disinfectants delivered to hospitals years ago. The controversial company, now in insolvency, has debts of RON 17.6 million to the Romanian state, and the Prosecutor's Office attached to the […]

Romania joins global Earth Hour movement on March 22

On March 22, 2025, Romania will join millions globally in marking the 19th edition of Earth Hour, a powerful movement organized to raise awareness about environmental issues. This year's Earth Hour coincides with World Water Day, with initiatives emphasizing the need to protect and regenerate vital water resources. In Romania, WWF said it is using […]

Czech VC Soulmate Ventures launches new EUR 50 mln fund for sustainable innovation startups

Soulmates Ventures, a Prague-based Venture Capital (VC) firm, is strengthening its commitment to sustainable innovation with a EUR 50 million fund, increasing initial investments to up to EUR 3 million per startup, with follow-on funding totalling up to EUR 5 million to ensure long-term support. Investing under Article 9 of the SFDR, the accelerator and […]