Petkova talks on SOCAR’s possible participation in Bulgaria’s gasification

  07 November 2018    Read: 780
Petkova talks on SOCAR’s possible participation in Bulgaria’s gasification

Possible participation of Azerbaijan’s state oil company SOCAR in Bulgaria’s gasification is an element of deepening mutually beneficial cooperation with Azerbaijan, said Bulgarian Energy Minister Temenuzhka Petkova.

“The agreement between Bulgargaz and SOCAR for the supply of 1 billion cubic meters of gas per year starting from 2020 is key to the implementation of our priorities in the energy field,” she was quoted as saying by Bulgarian media at the opening of the fifth meeting of the Intergovernmental Bulgaria-Azerbaijan Commission for Economic Cooperation in Sofia.

Petkova noted that Bulgarian government is actively making efforts to ensure the diversification of gas supplies through the construction of interconnectors with neighboring countries.

Interconnector with Greece (IGB) is of key importance among them and its implementation is already irreversible, she added.

Petkova noted that IGB will be commissioned in 2020, when the first deliveries of natural gas from Azerbaijan are expected.

“Azerbaijani gas will cover about 30 percent of consumption in Bulgaria, which will significantly increase the country's energy security. SOCAR’s possible participation in the gasification of Bulgaria is an element of deepening mutually beneficial cooperation with Azerbaijan,” she said.

Further, she said that the direct air line between Bulgaria and Azerbaijan opened at the beginning of this year is also a factor of strengthening trade contacts.

She highlighted a great room for the growth of mutual trade, which increased by 38 percent in 2017 compared to 2016.

IGB is a gas pipeline, which will allow Bulgaria to receive Azerbaijani gas, in particular, the gas produced from Azerbaijan's Shah Deniz 2 gas and condensate field. IGB is expected to be connected to TAP via which gas from the Shah Deniz field will be delivered to the European markets.

The initial capacity of IGB will be 3 billion cubic meters of gas.


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