The connection gas pipeline between Bulgaria and Greece will start operating on July 1, with Bulgaria ready to receive one billion cubic meters of gas from Azerbaijan – enough to meet the country’s needs during the summer, while prices are expected to be lower than those of Russian gas.
The commissioning of the gas interconnector became possible after the joint decision of the Bulgarian and Greek energy regulators to license the gas connection operator – ICGB. The decision was made shortly after the war in Ukraine, which eventually led to the suspension of Gazprom’s gas supplies to Bulgaria. Sofia authorities have rejected Russian demands for a change in contracts and the payment of gas in rubles.
The gas connection with Greece will be crucial for the security of gas supply and for the formation of favorable prices for consumers in Bulgaria, commented the Bulgarian energy regulator. Azeri natural gas is delivered via the Trans-Adriatic Pipeline (TANAP), which passes through Turkey and Greece and reaches Italy.
The gas interconnector allows transportation three billion cubic meters (bcm) with the possibility of increasing to 5 bcm when stronger compression stations are installed. Half of the gas interconnection capacity has been committed by Bulgargaz, while the rest will be traded on the open market.
The launch of the connection is a success for Bulgarian Prime Minister Kirill Petkov, who has been very active on that date.
In July, Bulgaria expects two deliveries of liquefied natural gas (LNG) from the US at prices lower than those of Gazprom. All this means that at least by the beginning of the heating season in the autumn, Bulgaria should have secured the necessary gas supplies, as well as the necessities for at least partial filling of the gas depot in Tsiren.
At the end of April, the Gazprom suspended gas supplies to Bulgaria, violating existing contracts. The government in Sofia refused to comply with Moscow’s unilateral request to open a ruble account with Gazprom Bank to pay for gas supplies because the contract made payments in dollars. Russia has given no guarantee at what exchange rate it will convert the dollars into rubles, a threat to Bulgaria’s energy security, the government said.
Russian gas was also cut off for Poland and Finland, as they also refused to open accounts in rubles.
euractiv.gr
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