Azerbaijan ensures about 40% of Bulgaria's gas consumption

Azerbaijan supplies approximately 40% of Bulgaria's natural gas consumption under a 25-year contract, reads a statement from the Bulgarian Ministry of Energy, Report informs.

"Azerbaijan supplies almost 40% of Bulgaria's natural gas consumption under a 25-year contract. This agreement guarantees predictability, reliability of supply, and pricing terms that are among the most competitive in Europe," the ministry said in a statement.

The ministry noted that during periods of market instability, gas from Azerbaijan serves a stabilizing function-deliveries are uninterrupted, and contractual parameters limit the impact of sharp price fluctuations: "This means reducing the burden on businesses and households, increasing economic resilience, and maintaining the competitiveness of Bulgarian industry."

The ministry also recalled that Bulgarian Energy Minister Traycho Traykov attended meetings of the Southern Gas Corridor Advisory Council and the Green Energy Advisory Council in Baku on March 3.

During the forum, Minister Traykov held bilateral meetings with Moldovan Energy Minister Dorin Junghietu, Turkish Deputy Energy Minister Zafer Demirkan, and SOCAR President Rovshan Najaf, as well as Azerbaijani Energy Minister Parviz Shahbazov.

At the meeting, Traykov and Shahbazov discussed opportunities to optimize supplies under the long-term contract, the Panagyurishte municipal gasification project being implemented by Asarel and SOCAR, and the hybrid compressed natural gas (CNG) supply project being implemented by M-Gaz and SOCAR for consumers without access to the gas transmission network.

"Minister Shahbazov also stated that he would highly appreciate Bulgaria's formal inclusion in the Green Energy Corridor initiative between Azerbaijan, Georgia, Romania, and Hungary, which includes a submarine power cable project in the Black Sea – part of the strategic energy cooperation between the European Union and Azerbaijan under the Global Gateway initiative," the ministry added.