Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Bulgaria signs long-term agreement to use Turkish gas terminals

Through the deal, Bulgaria will have access to Turkey’s LNG terminals and transit network, to secure alternatives to Russian gas.

Bulgaria has signed a long-term deal with neighbour Turkey that will give it access to liquefied natural gas (LNG) terminals and the gas supply grid in the country as Sofia aims to replace energy supplies once provided by Russia.

Bulgaria’s state gas company Bulgargaz and the Turkish gas transmission company Botas on Tuesday signed a 13-year deal stipulating that the LNG that Bulgaria will buy on international markets will be unloaded and processed in Turkish terminals and then transferred via the Botas gas network to Bulgaria.

Bulgaria, a member of the European Union, has been almost fully dependent on Russian gas, but is seeking alternatives after Moscow cut off deliveries in April after Sofia refused to pay in Russian roubles in the wake of the invasion of Ukraine.

“With this agreement we are securing the opportunity to buy gas from all global producers and offload it in Turkey, which best suits Bulgaria logistically,” Bulgaria’s interim Energy Minister Rossen Hristov said.

His Turkish counterpart Fatih Donmez said the agreement would allow Bulgaria to transport about 1.5 billion cubic metres (bcm) of gas a year and would help increase the security of supplies in southeastern Europe.

Donmez said that Turkey’s network currently acquires natural gas from 15 countries in total.


Bulgaria seeks one bcm per year


Hristov has said that Bulgaria wants to book capacity of about one bcm of gas per year at Turkish LNG terminals and seal import deals with European and United States LNG producers.

Bookings for 2023 are predicted to be less, because Bulgargaz has already won tenders for slots at Greek LNG terminal Revithoussa for several months.

For decades, Bulgaria had almost fully relied on Russia to cover its annual needs of about three bcm of gas a year.

However, Moscow suspended deliveries to Bulgaria in April, after Sofia refused to pay for gas in roubles.

Bulgaria currently covers about a third of its annual gas needs by importing one bcm of Azeri gas, and contracts traders to supply it with the rest through Greece.

Turkey imports Russian gas and Moscow has proposed setting up a hub for Russian gas in Turkey, which in theory could allow Moscow to mask its exports with fuel from other sources.

Hristov has said that Bulgaria cannot control what gas will enter Bulgaria, but that Sofia would make sure it signs deals for LNG deliveries that are not from Russia.

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Nvidia Reportedly Takes Vast Texas Data-Centre Lease to Underwrite AI Expansion
FIFA’s Private-Investment Plan for World Cup Rights Draws European Revolt
Apple Briefly Crosses Five Trillion Dollar Valuation as Investors Retreat From AI Bets
Fresh Heatwave Threatens to Rekindle France’s Historic Wildfire Crisis
Following OpenAI's Cyberattack: 'Most Companies Still Do Not Understand What Is Coming'
OpenAI Sued After ChatGPT Allegedly Discouraged Emergency Care Before Near-Fatal Embolism
Miliband Sets Climate and International Law at Centre of UK Diplomacy
Czech Central Bank Governor Rejects Early Euro Entry and Rate-Cut Pressure
Trump Readies New Tariffs as Temporary Global Levy Nears Expiry
Vivienne Westwood Casts Cicciolina, 74, in Its New Autumn Campaign
Dejavu: Germany’s Military Expansion Reshapes Europe’s Strategic Balance With France
Morgan Stanley Builds a Wall Street Lead in AI Infrastructure Finance
High Prices Push Coffee Drinkers Toward Whole Beans and Home Brewing
Trump Draws Boos and Podium Scrutiny at Spain’s World Cup Triumph
Brilliant move: Péter Magyar Moves to Nominate Chess Grandmaster Judit Polgár as Hungary’s President
Spain Defeats Argentina in Extra Time to Win Second World Cup
Current AI Seeks to Build an Open Global AI Infrastructure Outside Big Tech Control
Germany’s Economic Malaise Reopens the Sunday Shopping Debate
Proposed U.S.-Saudi Nuclear Pact Could Permit Limited Uranium Enrichment Under International Safeguards
Netherlands Declares Water Shortage Emergency After Drought Pushes Rivers to Historic Lows
Why Kentucky Fried Chicken Became KFC—and Why the False Explanations Persist
Ukrainian Drones Strike Wildberries Warehouses Deep Inside Russia
Reported CIA Mission Helped Clear the UAE’s Path to Advanced US AI Chips
Artificial Intelligence Capital Fuels Markets While Governments and Regulators Face Mounting Strategic Tests
China’s Moonshot’s Kimi K3 Narrows the Gap With Anthropic Through Scale, Openness and Lower Cost
The Ledger Will Not Trust on Faith
Trump Administration Pressures Banks to Restrict Financial Access for Undocumented Immigrants
Passenger Bound for Germany Refused to Sit Beside a Woman on a Plane — Then Slapped a Flight Attendant
Ukraine’s Leadership Rift Spills Into the Streets as Protesters Target Army Chief
Ukrainian Drone Barrage Kills Eight and Strikes Russian Logistics Network
The Ten World Cup Finals That Defined Football History
Smartphones Are Getting More Expensive, Sales Are Collapsing, and Even Apple Admits: "Prices Will Rise"
The Monaco Bombing Has Become a Test of Ukraine’s Intelligence Accountability
Leadership Change and Strategic Rivalry Redraw the Political Map
The AI Race Enters Its Infrastructure Era
Britain Nationalises British Steel to Protect Scunthorpe Production and Strategic Supply
French National Assembly Overrides Senate to Pass Historic Assisted-Dying Legislation
Spanish Prime Minister's Wife Ordered to Stand Trial as Corruption Probes Encircle Governing Party
Zelensky Faces Kyiv Protests Over Ousting of Dynamic Ukrainian Defense Minister
Thomas Tuchel Faces Fierce Backlash After Tactical Retreat Costs England World Cup Final Berth
A Quiet Bastille Day: France Grapples with World Cup Heartbreak and Leftover Fireworks
Spain in Ecstasy: "We Feel Unbeatable, We Taught the Whole World a Lesson"
Spain and UK Dismantle Gibraltar Border Following Landmark Schengen Integration Treaty
Hungary's "Puppet" President to Be Ousted, Orbán Fumes: "Democracy Is Dead"
Forget Tinder: The Surprising Platform Where People Find Love
Harvard Astrophysicist to Lead U.S. Scientific Advisory on Unidentified Aerial Phenomena
Emergency Sirens Activated Across Bahrain as Interior Ministry Issues Shelter Directives
World Cup Visitors Turn American Big-Box Stores Into Souvenir Stops
Netflix Weighs Always-On Channels, Bundles and Short-Form Video
Passenger Is Pulled Partly Outside Ryanair Jet After Window Fails Mid-Flight
×