BAKU, Azerbaijan, April 4. Bulgaria supports Azerbaijani state oil company’s (SOCAR) potential expansion into its fuel market, Zhecho Stankov, Bulgaria’s Minister of Energy, said in an exclusive interview with Trend on the occasion of the Southern Gas Corridor Advisory Council’s meeting in Baku.
The minister said that last year, SOCAR supplied and traded approximately 1 billion cubic meters of natural gas annually at the Balkan Gas Hub, in addition to the 1 billion cubic meters per year delivered under Bulgargaz EAD’s long-term contract with the Shah Deniz consortium.
“We expect these gas volumes traded by SOCAR at the Balkan Gas Hub to be maintained and even increased in the coming years. We would like to expand cooperation with Baku in promoting gasification and facilitating SOCAR’s entry into gas distribution activities in Bulgaria, such as the gasification of the town of Panagyurishte, along with other cities,” he added.
Stankov recalled that during COP 29 in Baku, in the presence of President Rumen Radev and President Ilham Aliyev, a binding agreement was signed for the development of residential and public gasification in the municipality of Panagyurishte.
“The agreement was concluded between SOCAR and Assarel-Medet, a Bulgarian company engaged in copper and other ore mining. In July, a contractor for the municipality’s technical design is expected to be selected,” he said.
The minister pointed out that as an EU member state, Bulgaria offers a premium energy market with stable and predictable legislation.
“We also support SOCAR’s hybrid gasification project in Bulgaria, which enables industrial and social consumers not connected to the transmission and distribution network to receive Azerbaijani gas via CNG deliveries. This project is a tangible contribution by SOCAR to promoting gasification in Bulgaria. Additionally, we support SOCAR’s potential expansion into Bulgaria’s fuel market, including the supply of diesel, gasoline, aviation fuel, and petrochemical products,” Stankov explained.
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