Help Desk -
9958816305, 9810335381

Bulgaria expects SOCAR to invest in its retail gas network this - Mr Borissov

Gasoil News - Published on Tue, 19 Mar 2019

Image Source:
Reuters citing, Prime Minister Mr Boyko Borissov, saying that Bulgaria expects Azeri state energy company SOCAR to start investing in the Balkan country's retail gas distribution network this year. Sofia plans to cover up to 30 percent of its gas needs beyond 2020 with natural gas from Azerbaijan, reducing its almost total dependence on Russian gas, under its contract to import 1 billion cubic metres of gas a year from the Shah Deniz II gas field in the Caspian Sea.

However, SOCAR has previously expressed an interest in investing in Bulgaria's retail network, as well as in expanding the country's gas storage facility.

Mr Borissov said in a statement after meeting Azerbaijan President Ilham Aliyev in Baku "In 2019 and 2020 we can finish what we have been negotiating for years."

Meanwhile, the Azeri gas imports are expected to come through the IGB gas interconnector pipeline between Bulgaria and Greece. Borissov said the construction of the IGB would start this summer and that it would become operational in 2020.

Source :

Posted By : Rabi Wangkhem on Tue, 19 Mar 2019
Related News from Gasoil segment