Bulgaria, Azerbaijan seeking cooperation on gas supplies

Energy Trade

Bulgaria’s Economy and Energy Minister Peter Dimitrov signed a letter of intent Wednesday with his Azerbaijani counterpart Natik Aliev over supplies of natural gas.

Dimitrov is on a visit to Azerbaijan to participate in the 15th conference and exhibit “Caspian Petrol and Gas.” The protocol envisages the possibility of a contract between Bulgarian gas company Bulgargaz and Azerbaijan’s state-owned oil company GNKAR for the supplies of 1 billion cubic meters of gas to Bulgaria by Azerbaijan. The gas supplies will be transported via existing gas pipelines as well as the projected Nabucco gas pipeline, which is designed to transport natural gas from Turkey to Austria, via Bulgaria, Romania and Hungary.

Bulgaria and Azerbaijan support the projects for diversifying the sources and routes of energy resources with the purpose of guaranteeing and increasing the security of natural gas deliveries to the EU, the Bulgarian Economy and Energy Ministry said at a press release. The two countries will strengthen cooperation in power energy, oil and gas industry, renewable energy and energy efficiency, said the ministry. The protocol is expected to lead to a cooperation agreement between the two countries in accordance with their legislations.

Aliev said after the signing ceremony that the functioning of the East-West corridor was impossible without Bulgaria because of its geographic location, and that it had to use this situation. He said that oil and gas are at the basis of economic relations between the two countries, which should be further developed in the other energy sectors. (people.com.cn)

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