Global Gas Glut Forecasted to Reach Multi-Decade Highs
Natural gas prices have seen a steady decline in recent months, largely attributed to an oversupply of the blue fuel following a milder-than-anticipated winter season worldwide
A pipeline carrying Azeri gas to Turkey is expected to reach Bulgaria's Kapitan Andreevo, according to Turkish Ambassador to Bulgaria Ismail Aramaz.
In a Tuesday statement in the northeastern city of Ruse, he explained that the pipeline would allow reverse flow, as Bulgaria had requested.
During his visit to Ruse, the Turkish Ambassador met with District Governor Stefko Burdzhiev and Mayor Plamen Stoilov.
Aramaz confirmed that the technical studies for the Bulgaria-Turkey gas grid interconnection were underway, with the report on the technical progress due in May.
He told journalists that the pipeline could also carry Turkmen gas and fuel from northern Iraq.
Turkey's Ambassador to Bulgaria rejected allegations that the fuel would be more expensive, saying that the additional link actually increased alternatives.
The contract for the Bulgaria-turkey gas grid interconnection was negotiated during Prime Minister Borisov's visit to Turkey two weeks ago.
Asked to specify a deadline for the completion of the project, Aramaz replied that "Turkey and Bulgaria are neighbors and good friends. The Prime Ministers of the two countries called for swift progress on the matter and, given their political will, I believe that the implementation of the gas grid interconnection project will not be delayed."
During Monday's visit to Georgia, Prime Minister Borisov negotiated the transportation of liquefied natural gas (LNG) through the port of Poti to the Bulgarian Black Sea city of Varna by sea.
He vowed that the move would lead to an actual gas supply diversification.
In a Tuesday TV interview, former Energy Minister Traicho Traikov explained that the issue involved compressed natural gas (CNG) rather than LNG because it was the more profitable option for small quantities.
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