Türkiye, Bulgaria sign natural gas trade agreement

Turkey, Bulgaria sign natural gas trade agreement

Breaking News Turkey with agencies

Turkey and Bulgaria inked a long-term deal enhancing Sofia’s access to neighbouring Turkey’s gas network and liquefied natural gas (LNG) terminals as Ankara is on its way to becoming an energy hub.

Under the new 13-year agreement, Bulgargaz would be able to use Turkey’s LNG terminals for cargo shipments, which would be transported via Botaş’s gas network to Bulgaria.

“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 Dönmez said the agreement would allow Bulgaria to transport about 1.5 billion cubic meters (bcm) of gas a year and would help increase security of supplies in southeastern Europe.

Hristov has said Bulgaria wants to book capacity of about 1 bcm of gas per year at Turkish LNG terminals and seal import deals with European and U.S LNG producers.

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

Meanwhile, Russia’s President Vladimir Putin previously offered an energy hub to establish in Turkey after the Nord Stream pipelines under the Baltic Sea were damaged in September by blasts.

Calling on Europe, Putin said that the nations in the continent could get natural gas from Turkey.

Turkish President Recep Tayyip Erdoğan said he agreed with his Russian counterpart’s idea.

Exit mobile version