site.btaBulgaria, Azerbaijan Gas Companies Sign Two Documents Diversifying Gas Supplies to Bulgaria, Southeast Europe

ESD 18:36:30 20-09-2014
LN1836ES.106
106 - ECONOMY - GAS - BULGARIA - AZERBAIJAN - DOCUMENTS

Bulgaria, Azerbaijan Gas Companies Sign Two
Documents Diversifying Gas Supplies
to Bulgaria, Southeast Europe


Baku/Sofia, September 20 (BTA) - The gas companies of Bulgaria
and Azerbaijan signed in Baku Saturday two documents which
enhance the security and diversify gas supplies to Bulgaria and
Southeast Europe, said the Economy Ministry in Sofia. The
documents were signed at bilateral talks during the visit of a
Bulgarian presidential delegation to Baku September 19 and 20,
with the participation of Economy and Energy Minister Vassil
Shtonov and representatives of the management of Bulgargaz and
Bulgartransgaz.

Earlier on Saturday, Bulgarian President Rosen Plevneliev was
among the guests at the groundbreaking ceremony for the Southern
Gas Corridor, together with representatives of Albania, the UK,
Georgia, Greece, Italy, the US, Turkey, and Montenegro.

At the bilateral talks, Bulgartransgaz and SOCAR of Azerbaijan
signed a memorandum of understanding on exploring the
opportunities for cooperation in the project for development of
th Chiren gas storage facility.

A letter of intent was signed between SOCAR and Bulgargaz for
starting talks on exploring the opportunities for starting early
gas delivery to Bulgaria by SOCAR in 2017 through the
Bulgaria-Greece gas interconnector. Opportunities will also be
sought for bringing natural gas from Azerbaijan to Bulgaria
through Turkey.

The implementation of the Southern Gas Corridor projects of the
European Union, including the extension of the South Caucasus
Pipeline and the construction of the TANAP and TAP gas
pipelines, and the Bulgaria-Greece interconnector, will provide
the route for the contracted alternative supplies of 1 billion
cu m of gas a year from Azerbaijan to Bulgaria beginning in
2019, the Economy Ministry says.

It will ensure competition among various suppliers, will bring
about real liberalization of the gas market and allow the
contracting of more competitive prices for Bulgarian consumers,
the statement goes. LN/

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