Letter from Eastern Europe: Bulgaria attempts Russian pivot
On the front line of potential weaponisation of Russian energy, the poorest and arguably most corrupt EU member state is heavily dependent but not without diversification options
EU and Nato member Bulgaria faces a challenge as Europe attempts to wean itself off Russian gas while also facing the potential risk of the Putin regime cutting off supply to those opposing its Ukrainian adventurism. The country imports about 90pc of its gas and most of its other energy resources from Russia, yet it can, in fact, diversify relatively easily. Bulgaria’s energy problems are to some extent self-inflicted—as the recently elected pro-Western government is quick to point out. Solutions will involve not just connecting to nearby pipelines and securing the right contracts, but also rooting out institutional dysfunction and healing political rifts. In response to steep financial sanc
Also in this section
3 May 2024
Upcoming elections are likely to deliver a win for the party of president Andres Lopez Obrador, but analysts differ over to what degree his successor will stick to his energy policies
2 May 2024
Faster-than-expected economic growth fails to mask macro imbalances and shifting structural oil product trends
1 May 2024
Energean CEO Mathios Rigas looks to results of critical Anchois appraisal well
30 April 2024
While its regional neighbours reap the rewards of oil and gas success, Iraq’s hydrocarbons sector is lagging behind