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Bulgaria offers Azerbaijan to invest in its energy projects

Oil&Gas Materials 27 August 2015 11:06 (UTC +04:00)
The Bulgarian government has delivered a package of energy cooperation projects to Azerbaijan, Azerbaijani ambassador to Bulgaria Emil Karimov told Trend August 26.
Bulgaria offers Azerbaijan to invest in its energy projects

Baku, Azerbaijan, Aug. 26

By Seba Aghayeva - Trend:

The Bulgarian government has delivered a package of energy cooperation projects to Azerbaijan, Azerbaijani ambassador to Bulgaria Emil Karimov told Trend August 26.

In particular, the Azerbaijani side was offered to participate in the construction of filling stations, to invest in the construction of oil and gas storage facilities, and refineries.

"At present, the Azerbaijani side is examining these projects and their profitability," he said.

"The energy cooperation is one of important areas of cooperation between the two countries.

Bulgaria is interested in purchasing Azerbaijani gas. The government plans to purchase gas in the volume of one billion cubic meters a year. In the future, these volumes can be increased."

Currently, the negotiations on the Azerbaijani gas supply through the Greece-Bulgaria inter-connector are underway.

IGB (Greece-Bulgaria inter-connector) is a gas pipeline, which will allow Bulgaria to receive Azerbaijani gas, in particular, the gas produced from Azerbaijan's Shah Deniz 2 gas and condensate field.

IGB is expected to be connected to the Trans-Adriatic pipeline via which gas from the Shah Deniz field will be delivered to the European markets.

"Bulgaria intends to build a pipeline, which will be connected with the Trans-Adriatic Pipeline (TAP) in the future," he said. "Azerbaijani gas will be delivered to Europe via this pipeline. Thus, Bulgaria will be able to receive gas from Azerbaijan."

A Memorandum of Understanding and Cooperation was signed between TAP and ICGB in January 2014.

The document gives an opportunity for cooperation between the two companies that will work together on connecting the pipelines in the vicinity of Komotini (Greece), which will open the way for new supplies of gas to the gas distribution network in Bulgaria, and further to the South-Eastern Europe.

TAP project is designed to transport gas from the Caspian Sea region to Italy's south through Greece, Albania and the Adriatic Sea and further to West Europe. The total length of the pipeline will near 870 kilometers.

Edited by CN

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