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

The resignation of the Bulgarian government amidst massive protests against high energy prices, poverty and corruption has left the country in disarray. Prime Minister Boyko Borisov announced the resignation of his cabinet on February 20 after protests in Sofia turned violent, leaving 25 people injured,... MORE

Last month, the Croatian government signed up to Gazprom’s South Stream pipeline project; it agreed to re-start importing certain gas volumes from Gazprom through existing pipelines from 2013 onward; it welcomed Gazprom’s offers to build jointly-owned power plants in Croatia; heard an unexpected proposal for... MORE

Croatia is expected to join the European Union as a full member in July of this year. In the energy sector, however, Croatia’s center-left government is marking the EU accession in its own ways: First, by joining Gazprom’s South Stream pipeline project, in breach of... MORE

One year after the Bulgarian parliament adopted a moratorium on shale gas exploration under pressure from environmental groups, public protests against high prices of electricity and heating have swept the country. The protests, however, seem to target the energy distribution companies and their pricing policies... MORE