SOCAR intends to invest in Bulgaria’s gas sector

Oil&Gas Materials 4 April 2018 12:33 (UTC +04:00)

Baku, Azerbaijan, Apr.4

By Leman Zeynalova – Trend:

Azerbaijan’s state oil company SOCAR has confirmed its intention to invest in the development of Bulgaria’s gas distribution network, said a message from Bulgaria’s Energy Ministry.

Reportedly, SOCAR representatives are on a working visit to Sofia to hold discussions with Bulgarian authorities on the details of possible participation in the development of Bulgaria’s gas sector.

“SOCAR’s interest in gasification of Bulgarian cities was expressed during a meeting of Bulgaria’s Prime Minister Boyko Borissov with Azerbaijan’s President Ilham Aliyev in January. SOCAR has already successfully invested in this sector in Georgia and can use this experience in Bulgaria as well,” said the message.

SOCAR representatives set before the Bulgarian experts from the Energy Ministry a number of issues related to legislation on gas distribution, subsidies for households, the choice of natural gas as a source of energy, competitive advantages of gas over other sources. The meeting in the Commission for Regulation of Energy and Water Supply will discuss details of the regulatory framework and licensing of gas distribution companies.

During the meeting, Bulgaria’s Energy Minister Temenuzhka Petkova informed SOCAR representatives about the progress in the implementation of Interconnector Greece-Bulgaria (IGB) project.

She assured that public procurement under the project is being implemented on time. Ten companies have submitted applications to participate in the procedure for selecting a pipe supplier for the IGB.

"We are working hard to put IGB into operation by the end of 2020," said Petkova.

Murad Heydarov, advisor to SOCAR president, informed the Bulgarian energy minister about the implementation of the TAP and TANAP projects, stressing that they are being implemented according to the approved schedules.

“After the construction of the IGB we expect the first deliveries of natural gas from Azerbaijan to Europe in 2020,” he said.

IGB 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 (TAP) via which gas from the Shah Deniz field will be delivered to the European markets.

The initial capacity of IGB will be 3 billion cubic meters of gas.


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