The Barack Obama Administration’s first-term “reset” of the United States’ relations with Russia set in motion a trend in Europe. A number of European governments have adapted the US-Russia “reset” model to their specific situations, initiating similar processes bilaterally with Russia. In Western Europe, such... MORE

Russian Gazprom was poised to take over Greece’s Public Gas Corporation (DEPA), but has withdrawn from the tender literally on the last possible day. The final, binding offer was due to be submitted on June 10, but it did not arrive. Instead, Gazprom claims that... MORE

Croatia is set to join the European Union as a full member on July 1. This makes Croatia a more attractive object of Russian energy interests. The head of Zarubezhneft (Nikolai Brunich, who has in the meantime taken over as chief of Transneft) visited Zagreb... MORE

Although lacking a parliamentary majority, the new Socialist-led government of Bulgaria, is hurriedly reversing critical energy sector decisions of the previous center-right government, thus bringing the country closer to Russia. Within two weeks of the cabinet’s appointment, discussions are underway to reopen the Belene Nuclear... MORE

Pressed by international creditors and its own insolvency, Greece is selling off DEPA/DESFA, the state-controlled natural gas company. While Russian Gazprom looks set to acquire DEPA (Public Gas Corporation, the gas procurement and dominant distribution company), the little-known Russian company Sintez is bidding for DESFA... MORE

Insolvent Greece is auctioning off its state assets, both as a matter of necessity and as a condition imposed by international creditors for bailing out the country. The state-controlled natural gas company, DEPA/DESFA, is by far the most valuable asset in the Greek privatization package.Russian... MORE

The Bulgarian general elections on May 12 produced a hung parliament and little hope that the political stalemate would be easily overcome. Political instability is expected to continue during a prolonged period of appointing a new government. The scandals with pre-election wiretapping and the discovery... MORE

Parliamentary elections in Bulgaria on May 12 are unlikely to ease tensions after weeks of public protests against poverty and corruption brought the government down in February. Nor will the vote open the way for economic reform to increase growth and improve living standards in... MORE

Among the roles of Gazprom’s South Stream pipeline project was that of aborting the EU-backed Nabucco, merely by threatening to preempt Nabucco’s markets along the same route downstream. Conversely, Nabucco’s European rival Trans-Adriatic Pipeline project (TAP) can abort Nabucco by preempting the gas supply source... MORE

The political crisis in Bulgaria is deepening as the street protests continue despite the surprising resignation of the government on February 20. The wave of protests has spread to over 25 cities; in Sofia the demonstrators have set up a tent camp in front of... MORE