BAKU, Azerbaijan, May 8. The State Oil Company of Azerbaijan (SOCAR) will take part in the gasification of two Bulgarian cities and will establish a joint venture (JV) with a Bulgarian company to implement this process, an informed source told Trend.
"SOCAR and the Bulgarian company Asarel-Medet will sign a memorandum on joint works on gasification of two Bulgarian cities during the official visit of the Bulgarian President to Baku on May 8," he noted.
For these purposes, a joint venture will be created, and the share participation of the companies in it is specified.
The source stated that the JV's establishment will determine the terms of gasification for the two cities in the Bulgarian regions, along with other implementation details.
"Asarel-Medet" is active in Bulgarian and European mineral sectors.
Meanwhile, Bulgaria has been receiving Azeri gas since January 2021, with commercial deliveries starting in October 2022 through the new Interconnector-Grecce-Bulgaria (IGB) pipeline, which is linked to the Southern Gas Corridor.
Bulgartransgaz signed a 25-year contract in Baku in 2013 to purchase gas from the Azerbaijani field Shah Deniz (agreement on volumes of one bcm of gas per year).
In addition, SOCAR periodically sends surplus gas to Bulgaria on its own.
Azerbaijani gas has been actively flowing to the new Balkan Gas Hub since 2024 (about 50–60 million cubic meters per month).
Stay up-to-date with more news on Trend News Agency's WhatsApp channel