Bulgargaz is ready to buy gas on Turkmen border: Interview with company's executive director

Azerbaijan, Baku, July 4 / Trend , A.Badalova/

Bulgargaz EAD Executive Director and Member of the Board of Directors of Bulgarian Energy Holding EAD Dimitar Gogov spoke with Trend in an exclusive interview.

Trend : You know, Turkmenistan uses the principle of selling it's gas at the border of the country. Is it acceptable for you to purchase gas on these terms, taking into consideration that there is no infrastructure to transport Caspian gas to Europe?

Dimitar Gogov: Bulgargaz EAD is the main importer and trader of natural gas in Bulgaria. Our company currently has several active contracts for natural gas supply which attend to the needs of the country and whose term expires throughout the period 2010 - 2012. These gas supplies originate from the Russian Federation. With respect to this and with regards to diversification of natural gas supply sources, Bulgargaz EAD is interested in purchasing gas from other regions as well, including Central Asia.

We are familiar with Turkmenistan's principle method of operation in natural gas sales. For us it is acceptable to purchase under this method and we hope to be able to come to an agreement on both sides on the specific conditions of sale or to be able to carry out swap deals.

Q: Which measures should be taken in order to prevent the new gas crisis caused by disruption in gas transit to the European consumers? Is Bulgaria ready for such situations that may occur in the future? 
 
A: Currently, we have at our disposal resources from one underground gas storage facility, which functions to compensate the seasonal irregularity in natural gas supplies. However, the capacity of this facility does not allow for extraction from it for more than 4 months. The appropriate measures to be taken in order to prevent a new gas crisis are:

- expansion of the existing underground gas storage facility;

- utilizing the potential of the depleted field Galata on the Black Sea;

- creating gas interconnections with Greece, Turkey and Romania;

- negotiating standby agreements with the companies from those countries for gas supply in emergency situations;

- expansion of the existing transit network and connecting it to the network on the territory of Serbia, i.e. cooperation and interaction with the other countries from the region;

- utilizing the potential for liquid natural gas supply. There is also a possibility to construct LNG and regasification terminals in the Varna port area and the Georgian Black Sea coast, as well as in other neighbouring Mediterranean countries.

Q: What is your prognosis on demand for gas in Europe, in particularly in Bulgaria? Don't you exclude the possibility of gas demand reduction in the background of the world financial crisis?

A: Gas demand in Europe and Bulgaria in particular will see an increase in the short, medium and long term. Naturally, the global financial crisis has a serious impact on natural gas consumption but, as with any crisis, I hope that its duration will be constricted in time and I am an optimist that the rate of demand and consumption of natural gas in Bulgaria and Europe as a whole will start accelerating as early as the beginning of 2010.

Q: What role do you attach to Azerbaijan in terms of diversification of energy supply sources to Europe?

A: In short - key role. In April this year, Bulgargaz EAD signed a Letter of Intent with the Azerbaijan national company Soccar, for long-term natural gas supply for the needs of Bulgaria. I hope that our cooperation in natural gas supply from the Caspian region and in particular Azerbaijan will continue in the future. The logic of economics indicates that it is totally plausible to have a signed long term natural gas supply contract between our two companies.

Russia records over 8,600 daily COVID-19 cases
Russia records over 8,600 daily COVID-19 cases
Czechs expel 18 Russian envoys, accuse Moscow over ammunition depot blast
Czechs expel 18 Russian envoys, accuse Moscow over ammunition depot blast
Russia's Eastwind, Turkmenistan's Turkmensvyaz to sign contract
Russia's Eastwind, Turkmenistan's Turkmensvyaz to sign contract
Loading Bars
Latest
Japan’s PM to Visit India, Philippines to Strengthen Regional Ties
Azerbaijan discloses number of COVID-19 vaccinated citizens
Azerbaijan confirms 2,144 more COVID-19 cases, 1,923 recoveries
India stresses fulfilling commitments for developing Chabahar
EAM Jaishankar to visit Abu Dhabi on Sunday
Sri Lanka to receive Chinese Sinopharm vaccine tomorrow
Biden names 2 Indian-Americans to key jobs
Ambedkar remembered on birth anniversary in Dubai
Shortcomings of multilateral system laid bare by pandemic, says Shringla
Maldives Foreign Minister meets Jaishankar, discusses regional, international issues
Israeli business interested in expanding cooperation with Kazakhstan
Number of licenses issued for launch of enterprises in Iran spikes
Delegation of Azerbaijani parliament takes part in events within session of CIS Interparliamentary Assembly (PHOTO)
Azerbaijani gymnasts take part in World Cup in Uzbekistan's Tashkent
Ford Otosan to suspend production due to supply issues
Georgian delegation to Participate in Spring Session of PACE
Iran reveals COVID-19 data for April 18
Azerbaijani hydroelectric power plants increase electricity production
China, U.S. agree on need for stronger climate commitments
Russia records over 8,600 daily COVID-19 cases
Azerbaijan shares footage from Saybali village of Aghdam district (VİDEO)
Serbia - gateway to European market for Iran - Deputy Minister
France to impose 10-day quarantine for travellers coming from Brazil
Azerbaijani Finance Ministry to engage archiving services via tender
Kyrgyzstan adds 244 new COVID-19 cases
Israel raises import of clothes from Turkey
Iran's Energy Exchange announces products to be on sale on April 18
Capital of Bank Keshavarzi Iran to increase
Iran's trade turnover with Georgia decreases
Azerbaijan's MFA issues appeal on occasion of April 18 - International Day for Monuments and Historic Sites
Azerbaijan shares footage from Tarovlu village of the Gubadli region (VİDEO)
Slovak investors note potential in Georgia's energy sector
Czechs expel 18 Russian envoys, accuse Moscow over ammunition depot blast
Azerbaijan's State Treasury Agency to update information systems via tender
Earthquake hits Georgia
Iran, Serbia FMs meet in Tehran
Magnitude 5.8 earthquake hits Japan
Kazakhstan’s COVID-19 caseload up by 2,822
Iran's trade turnover with Pakistan shrinks
Brazil registers over 370,000 deaths from COVID-19
5.8-magnitude quake strikes off Japan's Miyagi Prefecture
Iraq reports 6,552 new COVID-19 cases, 970,987 in total
More than 805,000 COVID-19 infections detected worldwide over past 24 hours
5.1-magnitude quake hits 20 km S of Mandraki, Greece
Israel reports 142 new COVID-19 cases, 836,882 in total
Yemen's Houthi rebels say launch drone attack on Saudi air base
India's sports minister tests positive for COVID-19
Weekly review of highlights in Azerbaijan's transport sector
EU to hand over 30 vehicles to Georgia Border Police
Turkish scientist works on drug that can ‘kill COVID-19 in 2 days’
Uzbekistan may start production of its own vaccine against COVID-19 by the end of the year
Russia's Eastwind, Turkmenistan's Turkmensvyaz to sign contract
UK records another 2,206 coronavirus cases, 35 deaths
Iranian official offers upbeat assessment of progress in nuclear talks
Volume of goods transported by Azerbaijan’s vehicles in 2021 disclosed
Indonesia reports 5,041 new COVID-19 cases, 132 new deaths
Global COVID-19 deaths surpass 3 mln - Johns Hopkins University
Geostat reveals volume of Russian exports to Georgia
Solar panel station put into operation in Iran’s Razavi Khorasan Province
New auction to be held for Azerbaijani Finance Ministry's mid-term bonds
Georgia increases import of vehicles from Turkey
Kyrgyzstan imposes restrictive measures at airports
Bahar Azadi gold coin price rebounds in Iran
Foreigners to pass simplified visa procedures for 2021 F1 Azerbaijan Grand Prix
Serbian FM to visit Tehran today
Azerbaijan discloses number of COVID-19 vaccinated citizens
Azerbaijan confirms 2,148 more COVID-19 cases, 2,287 recoveries
Armenia falsified Caucasian Albania temples in Azerbaijan - rep of religious community
Iran to send trade attaché to Azerbaijan
Weekly review of major events in Azerbaijan's oil & gas sector
Azerbaijan shares footage from Jabrayil's Dash Veysalli village (VIDEO)
Armenia strived to create history for itself in Azerbaijan's lands - Head of Albanian-Udi community
Iran reveals COVID-19 data for April 17
Volume of loaded and unloaded cargo in Iran’s Charak port climbs
Azerbaijani oil prices on rise
VICE News report on Armenia's attack on Azerbaijani Barda nominated for award
Weekly review of main events in ICT sector of Azerbaijan
Earnings from fuel savings in Iran paid to investors
Uzbekistan's CCI, Portuguese Industrial Association establish co-op
Buy/sell operations at Iran Mercantile Exchange soar
Rosatom, Uzbekistan working on contract for building nuclear power plant
Turkmenistan to create electronic exchange database
IMF calls on Georgia to reduce capital expenditures in case of lockdown
Russia reports a new high of 9,321 coronavirus cases since March 20
Azerbaijan's Albanian-Udi Christian community members visit ancient temple in Tugh - Trend TV (PHOTO)
OSCE MG should force Armenia to follow terms of trilateral statement - Azerbaijan's Parliament
Weekly review of Azerbaijani currency market
Azerbaijan, Turkic Council discuss creation of joint digital tools
Weekly review of Azerbaijani precious metals market
EU rep should follow int'l law before meeting with separatist in Karabakh - expert
Potential areas of Turkmenistan’s interaction within Visegrad Group+Central Asia framework identified
Georgia reports 1,219 new coronavirus cases for April 17
Georgia holds auction for privatization of state property
Azerbaijani MP talks about spring session of IPA CIS held in Russia's St. Petersburg
Georgia continues to conduct research on Namakhvani HPP
Iran unveils details exports from Maragheh County
Kazakhstan reveals total number of TEU containers shipped along Aktau-Baku feeder line
There have always been good grape varieties in Pirshaghi – white and black Shani - President Aliyev
Participants of Azercell Student Bursary and Internship Programs share their success stories
Iran boosts aluminum ingots production
All news