Bulgarian Prime Minister Sergei Stanishev is in Moscow to settle details over Sofia’s participation in South Stream, with the EU and U.S. thought to be pressing Bulgaria in favor of the Nabucco pipeline.
A 2 day meeting in Sofia, Bulgaria, has seen gas producers and European consumers agree to diversify supply routes and guarantee deliveries. Russian Energy Minister, Sergey Shmatko, spoke about Russia’s position.
The head of Estee Lauder says Russian sales are soaring, despite the financial crisis. Some economists expected consumers to go downmarket, but Moscow's top fashion retailer says there's a flight to quality.
With gas producers and consumers meeting Sofia, Bulgaria to discuss supply issues, RT spoke with Mikhail Krutikhin from Rus Energy about Russia, the various projects to bring gas to Europe and the Energy Charter.
New pipelines intended to carry gas to Europe will not reduce the volume of Russian gas piped through Ukraine. That's the message Russia is taking to a conference of gas producers and consumers in Bulgaria.
Russia says it will raise its oil quality to the international ‘Brent’ standard for the world's largest pipeline project, the E.S.P.O. Experts say that could bring Russian producers millions of dollars more in profit.
As the world financial and economic crisis comes into its own, the Western community leaders are seeking to impress on mankind the idea that this upheaval will end up ‘turning the world into something different’.