Bulgaria proposes gas storage facility for Turkish Stream

Bulgaria wants to build a storage facility for natural gas from the Turkish Stream pipeline project, according to Russian Energy Minister Alexander Novak.

Russian President Vladimir Putin announced the cancellation of the South Stream gas pipeline project on Dec. 1, 2014. Instead, he proposed a new natural gas pipeline route through Turkey's northwestern Thrace region to reach Greece. The route is commonly referred to as the Turkish Stream.

"Bulgaria has renewed desire to build a natural gas storage facility," Novak said on June 19, adding that the facility would be located on Bulgarian soil and not on the border between Turkey and Bulgaria.

Novak addressed the media during the International Economic Forum (SPIEF) held in St. Petersburg and spoke of his meeting with Temenuzhka Petkova, the Bulgarian energy minister.

The same proposal was made six months ago, he said without providing further information regarding Russia's position on the project.

Turkish Stream is expected to have a capacity of 63 billion cubic meters of natural gas per year. It will deliver 47 billion cubic meters of gas to Europe, while the remaining amount will be allocated for Turkey's domestic use. The agreement for the Turkish Stream gas pipeline's construction may be signed by the end of June, Novak said June 18.