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Finance

Bulgaria ready to accept more gas from Azerbaijan

Recognising the role of Azerbaijan in maintaining Europe’s energy security, especially since the Interconnector Greece-Bulgaria was put into operation, Bulgaria’s president Rumen Radev said that his country is now ready to go further and buy even more quantities of gas from Azerbaijan.

During a call with his Azerbaijani counterpart, Ilham Aliyev, President Radev mentioned that by combing the capabilities and efforts of the Hungarian, Slovak, Bulgarian and Romanian gas operators, these countries are ready to transport additional volumes of Azerbaijani gas.

“From now on, the decision is yours,” he said.

To prove how the energy scenario is moving forward month by month, President Radev also mentioned the interconnector between Bulgaria and Serbia. As per the latest development, earlier in February, Bulgaria’s natural gas transmission system operator Bulgartransgaz concluded a contract for a state-guaranteed loan with the Dutch ING Bank through its Sofia branch, for the financing of the interconnector Bulgaria-Serbia. The proposed loan with state guarantee for the project amounts to more than 49 million euros.

On Bulgarian territory, the interconnector includes the construction of a new gas pipeline from an existing Bulgartransgaz facility near the town of Novi Iskar to the border with the Republic of Serbia. For full project implementation, construction is envisaged of two automatic gas regulation stations and one gas measuring station, as well as two gas pipeline branches to the towns of Slivnitsa and Dragoman. Following its completion, the capacity of the new gas infrastructure will be 1.8 billion cubic metres (bcm) per year with the possibility for reverse flow.

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