Bulgargaz

The natural gas deal with Bulgaria is a step forward in Türkiye's efforts to become an energy hub, Energy Minister Fatih Dönmez has said.

"With this agreement, natural gas could be transmitted not only to Bulgaria but other countries via Bulgaria," Dönmez added.

"Bulgargaz could be sued by Russian energy giant Gazprom in an arbitration case, risking paying hundreds of millions of dollars." This was stated by the Acting Energy Minister Rosen Hristov during the parliamentary control.

Bulgaria on Jan. 3 gained access to Türkiye's terminals and gas transmission network under a long-term deal that will help the country replace supplies once provided by Russia.

Bulgaria's state gas company Bulgargaz and the Turkish gas transmission company Botas signed a 13-year deal that grants the Balkan neighbor access to Türkiye's terminals for liquefied natural gas.

Bulgaria on Tuesday gained access to Turkey's terminals and gas transmission network under a long-term deal that will help the country replace supplies once provided by Russia.

Bulgaria's state gas company Bulgargaz and the Turkish gas transmission company Botas signed a 13-year deal that grants the Balkan neighbor access to Turkey's terminals for liquefied natural gas.

Bulgargaz will have access to Turkey's terminals and gas transmission network. Up to 1.5 billion cubic meters of natural gas can be transferred annually to Bulgaria from Turkey. This became clear after Bulgargaz and the Turkish gas transmission company Botas signed a 13-year cooperation agreement.

"The gas for 2023 is secured, the expectations are for stabilization of the prices in the coming winter months", Deputy Minister of Energy Elenko Bozhkov said on BNT.

According to him, the warmer winter means less gas used from the gas storage in Chiren.

All necessary quantities of natural gas for the operation of "Toplofikatsia Sofia" (Heating Systems Sofia) will be provided. A contract has already been signed between the district heating company and Bulgargaz.

This became clear after a meeting between the Acting Minister of Energy Rosen Hristov and the Chairman of the Sofia Municipal Council Georgi Georgiev.

President Rumen Radev described as shocking the price of natural gas for September after returning from an official visit to the UAE. Yesterday, the Commission for Energy and Water Regulation (EWRC) decided that it would rise the price by nearly 19% compared to August and make it BGN 353.21/Mwh.

"Toplofikatsia Sofia (Heating Systems Sofia) owes BGN 399 million to Bulgargaz," Denitsa Zlateva, executive director of Bulgargaz, announced on BNT.

She reminded that "Bulgargaz" cannot by law stop the supply of gas to heating companies and will seek new loans from the Ministry of Energy.

"The estimated price of natural gas will be around BGN 350 (EUR 179), which is an increase of around 17 percent compared to the price for August," said Denitsa Zlateva, executive director of Bulgargaz, after the meeting of the Commission for Energy and Water Regulation.

According to her, this is due to the increased stock market index.