On 20th June representatives of the Croatian and Hungarian governments signed a letter of intent regarding the establishment
The failure of the South Stream project has spurred a debate about the expansion of the gas infrastructure in countries of region.
Russia's withdrawal from the construction of the South Stream gas pipeline has changed the situation on the gas market in the countries of region.
Chinese CGN will be strategic investor in the project to expand the only functioning power plant in Romania.
The contradictory statements concerning the future of the South Stream project should be interpreted in the broader context of the Serbian-Russian game.
Due to pressure from the EU and increasing criticism from the US, Prime Minister Plamen Oresharski announced that the South Stream would be withheld.
Russia, capitalising on Serbia’s dependence in the energy sector, forced Belgrade to accept unfavourable rules for the implementation of the investment.
Russia has used the construction launch to demonstrate that it will not relinquish at least partial implementation of the project.
In recent weeks the Romanian government sent signals announcing changes in its approach to the exploration and extraction of unconventional gas deposits. Prime Minister Victor Ponta has begun to talk in positive terms about shale gas in the press and in his government's agenda—the exploration for shale gas deposits has been recognised as a priority of energy policy.
On 7 February the Czech energy company CEZ entered into arbitration against Albania with regard to the fact that Albania revoked the distribution license of CEZ Shperndarje (76% of shares held by CEZ, 24% held by the Albanian state), which is the exclusive electricity distributor, and took over control of the company on 21 January.