New Pipeline Boosts EU Bid to Ease Energy Crisis

Caution - Russia Ukraine Conflict

This item is about Russia or Ukraine, countries which are involved in an unfolding armed conflict. Be aware that propaganda may be involved in this video news item. Browse news from other sources about Russia (here) and Ukraine (here) to gain a wider perspective. The Global Herald is attempting to remove any advertisements from this content. Please accept our apologies if you are shown an ad next to conflict news - please leave a comment if you see ads in this page.

Bloomberg Quicktake: Now published this video item, entitled “New Pipeline Boosts EU Bid to Ease Energy Crisis” – below is their description.

A natural gas pipeline between the Greek-Bulgarian border, ready to be operational in June, is the EU’s latest bid to ease reliance on Russian supply.

It followed Moscow’s recent decision to cut off natural gas supplies to Poland and Bulgaria over a demand for ruble payments stemming from Western sanctions over the war in Ukraine.

Officially called the Gas Interconnector Greece Bulgaria, it aims to complement the existing European network.

George Tasakos, head of the pipelines and networks of AVAX Group in Greece told the Associated Press that the pipeline would give alternative sources of gas to countries such as Bulgaria who heavily rely on Russian supply.

The pipeline link will run between the northeastern Greek city of Komotini and Stara Zagora, in central Bulgaria, and will provide the two countries and their neighbors access to new grid connections to the expanding global gas market.

That includes a connection with the newly built Trans Adriatic Pipeline carrying gas from Azerbaijan as well as suppliers of liquefied natural gas arriving by ship, such as Qatar, Algeria and the United States.

The 240 million euro ($250 million) pipeline, funded by Bulgaria, Greece and the EU will carry 3 billion cubic meters of gas per year, with an option to be expanded to 5 billion.

Am Energy expert from Brussels-based think-tank Bruegel claimed that Russia’s plan to cut off energy supply aimed to fragment Europe.

However, the 180-kilometer (110-mile) project is the first of several planned gas interconnectors that will allow eastern European Union members to access to the global gas market.

As many as eight additional interconnectors could be built in eastern Europe, reaching as far as Ukraine and Austria.

The European Union plans to fully cut its dependence on Russian oil and gas over the next five years.

Bloomberg Quicktake: Now YouTube Channel

Got a comment? Leave your thoughts in the comments section, below. Please note comments are moderated before publication.

About This Source - Bloomberg QuickTake: Now

Bloomberg L.P. is a privately held financial, software, data, and media company headquartered in Midtown Manhattan, New York City.

It was founded by Michael Bloomberg in 1981, with the help of Thomas Secunda, Duncan MacMillan, Charles Zegar, and a 12% ownership investment by Merrill Lynch.

Recent from Bloomberg QuickTake: Now:

Surging US Job Market Piles Pressure on the Fed

China Sanctions Pelosi Over Taiwan Trip

Democrats Agree on Revised Tax and Climate Bill

In This Story: Algeria

Algeria, officially the People’s Democratic Republic of Algeria, is a country in the Maghreb region of North Africa. The capital and most populous city is Algiers, located in the far north of the country on the Mediterranean coast. With an area of 2,381,741 square kilometres (919,595 sq mi), Algeria is the tenth-largest country in the world, and the largest by area in the African Union and the Arab world. With an estimated population of over 44 million, it is the eighth-most populous country in Africa.

Algeria is bordered to the northeast by Tunisia, to the east by Libya, to the southeast by Niger, to the southwest by Mali, Mauritania, and the Western Saharan territory, to the west by Morocco, and to the north by the Mediterranean Sea. The country has a semi-arid geography, with most of the population living in the fertile north and the Sahara dominating the geography of the south. This arid geography makes the country very vulnerable to climate change.

2 Recent Items: Algeria

Return to affordable housing project in Algeria

Algeria women take on mixed martial arts

In This Story: Austria

Austria, officially the Republic of Austria, is a landlocked East Alpine country in the southern part of Central Europe. It is composed of nine federated states, one of which is Vienna, Austria’s capital and its largest city.

It is bordered by Germany to the northwest; the Czech Republic to the north; Slovakia to the northeast; Hungary to the east; Slovenia and Italy to the south; and Switzerland and Liechtenstein to the west.

Austria occupies an area of 83,879 km2 (32,386 sq mi) and has a population of nearly 9 million people. While German is the country’s official language, many Austrians communicate informally in a variety of Bavarian dialects.

2 Recent Items: Austria

Highlights: Germany advance to semi-finals after beating Austria | BBC Sport

Highlights: Austria into quarter-finals after beating Norway | BBC Sport

In This Story: AVAX

AVAX is the native token of Avalanche. It is a hard-capped, scarce asset that is used to pay for fees, secure the platform through staking, and provide a basic unit of account between the multiple subnets created on Avalanche.

2 Recent Items: AVAX

Avalanche: What’s Up With AVAX?! This Will Surprise You!!

Avalanche Submits Subnet Proposal for ApeCoin DAO’s Metaverse Migration

In This Story: Bulgaria

Bulgaria, officially the Republic of Bulgaria, is a country in Southeast Europe. The capital and largest city is Sofia.

In 1946 Bulgaria came under the Soviet-led Eastern Bloc and became a one-party socialist state. Bulgaria adopted a democratic constitution in 1991.

Bulgaria is a member of the European Union, NATO, and the Council of Europe. Bulgaria is a developing country.

2 Recent Items: Bulgaria

EU told to prepare for Russian gas shut-off – BBC News

Bastille Day 2022: Fireworks light up night sky around Eiffel Tower as celebrations wrap up | LIVE

In This Story: Greece

Greece is a country in southeastern Europe with thousands of islands throughout the Aegean and Ionian seas. Influential in ancient times, it’s often called the cradle of Western civilization. Athens, its capital, retains landmarks including the 5th-century B.C. Acropolis citadel with the Parthenon temple. Greece is also known for its beaches, from the black sands of Santorini to the party resorts of Mykonos.

2 Recent Items: Greece

Comanchero bikie Mark Buddle extradited from Turkey to Australia, facing drug charges | 7NEWS

Saudi crown prince Europe trip: MBS visits EU for first time since Khashoggi killing • FRANCE 24

In This Story: Moscow

Moscow, on the Moskva River in western Russia, is the nation’s cosmopolitan capital. In its historic core is the Kremlin, a complex that’s home to the president and tsarist treasures in the Armoury. Outside its walls is Red Square, Russia’s symbolic center. It’s home to Lenin’s Mausoleum, the State Historical Museum’s comprehensive collection and St. Basil’s Cathedral, known for its colorful, onion-shaped domes.

2 Recent Items: Moscow

Russia, Ukraine trade blame over attacks on nuclear plant | Ukraine Update

The true impact of sanctions on Russia | DW Business Special

In This Story: Poland

Poland, officially the Republic of Poland, is a country located in Central Europe. It is divided into 16 administrative provinces, covering an area of 312,696 square kilometres, and has a largely temperate seasonal climate.

Poland’s capital and largest metropolis is Warsaw.

2 Recent Items: Poland

China-Mongolia border port handles 10,000 China-Europe freight train runs

Pilgrims from Poland killed in Croatia bus crash – BBC News

In This Story: Qatar

Qatar is a peninsular Arab country whose terrain comprises arid desert and a long Persian (Arab) Gulf shoreline of beaches and dunes. Also on the coast is the capital, Doha, known for its futuristic skyscrapers and other ultramodern architecture inspired by ancient Islamic design, such as the limestone Museum of Islamic Art. The museum sits on the city’s Corniche waterfront promenade.

2 Recent Items: Qatar

Chad military gov’t, opposition groups sign peace deal in Qatar

West Ham Hopes, Qatar World Cup & Arsenal AON | Quickfire Qs with David Moyes | Prime Sport Video

In This Story: Russia

Russia, or the Russian Federation, is a transcontinental country located in Eastern Europe and Northern Asia. It extends from the Baltic Sea in the west to the Pacific Ocean in the east, and from the Arctic Ocean in the north to the Black Sea and the Caspian Sea in the south.

Russia spans more than one-eighth of the Earth’s inhabited land area, stretching eleven time zones, and bordering 16 sovereign nations. Moscow is the country’s capital.

The Soviet Union was dissolved in 1991 and since 1993 Russia been governed as a federal semi-presidential republic. Russia is a major great power, with the world’s second-most powerful military, and the fourth-highest military expenditure. As a recognised nuclear-weapon state, the country possesses the world’s largest stockpile of nuclear weapons.

3 Recent Items: Russia

Young Ukrainians volunteer to help rebuild destroyed homes

Russia, Ukraine trade blame over attacks on nuclear plant | Ukraine Update

The Spreading Shadow: Japan should not follow the United States

Leave a Comment

We don't require your email address, or your name, for anyone to leave a comment. If you do add an email address, you may be notified if there are replies to your comment - we won't use it for any other purpose. Please make respectful comments, which add value, and avoid personal attacks on others. Links are not allowed in comments - 99% of spam comments, attempt to post links. Please describe where people may find additional information - for example "visit the UN website" or "search Google for..." rather than posting a link. Comments failing to adhere to these guidelines will not be published.