site.btaCabinet Approves Compensation for Firms Injecting Gas into Chiren Storage in 2023

The Cabinet Wednesday approved a compensation programme for companies that injected natural gas into the Chiren underground gas storage facility between May 1, 2022, and October 11, 2022. Thedecision aims to support entities involved in the storage project during the specified period.

The companies supplying natural gas to the Chiren gas plant purchased it at high prices. By taking on commercial risk, these companies helped achieve a storage fill rate of at least 80% as required by the Contingency Plan under Regulation (EU) 2017/1938 of the European Parliament and Council.

The programme will be implemented with financial resources amounting to BGN 278 million. These funds will come from the revenues of the Electricity System Security Fund.

The release of funds under the Programme are pending approval by the European Commission, once it confirms that the State aid aligns with EU internal market regulations.