BAKU, Azerbaijan, July 2. The State Oil Company of Azerbaijan (SOCAR) rented part of the capacity of the underground gas storage (UGS) Chiren (several tens of millions of cubic meters) in northwestern Bulgaria in May 2024 for the first time, an informed source told Trend.
"This is the first such operation for SOCAR in Bulgaria and the second in EU countries. The first was conducted a year ago and involved renting part of the capacity of the MVM gas storage in Hungary," the source said.
According to the source, such actions help SOCAR's operational flexibility in the EU market, as the gas stored in the UGS can be used when needed.
UGS Chiren is an EU project of common interest and the only UGS in Bulgaria.
It has been operational since 1974 but has undergone several modernizations during this period.
"The UGS serves to cover seasonal natural gas consumption demands in Bulgaria and is one of the tools to ensure the security of gas supplies," the source added.
The owner and operator of this UGS is the Bulgartransgaz company (licensed to provide natural gas storage services).
The maximum daily gas output from this UGS is about four million cubic meters per day.
Azerbaijan has been supplying gas to Bulgaria from the Caspian Shah Deniz field (responsible for these supplies is the Azerbaijan Gas Supply Company) since 2021.
Additional independent gas supplies from SOCAR have been added to the Azerbaijani gas deliveries since 2023.
Bulgaria may receive a total of about 1.5 billion cubic meters of Azerbaijani gas in 2024.