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Bulgaria's State-Owned Gas Supplier Gears Up for Expansion - CEO

Business » ENERGY | February 5, 2013, Tuesday // 18:09| Views: 1453 | Comments: 0
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Bulgaria: Bulgaria's State-Owned Gas Supplier Gears Up for Expansion - CEO Dimitar Gogov, CEO of the state-owned Bulgargaz company. Photo by BGNES

Dimitar Gogov, CEO of state-owned gas supplier Bulgargaz, has said that the company is gearing up for expansion on gas markets.

Speaking Tuesday during a conference titleda conference titled 'Gas Perspectives: First Regional Gas Conference', Gogov explained that he would not create obstacles to the liberalization but he would fight with all resources available to retain the company's market share.

The CEO of Bulgargaz, as cited by investor.bg, explained that Bulgargaz was one of the companies participating in talks to buy gas from the Shah Deniz 2 consortium.

Earlier on Tuesday, Economy and Energy Minister Dobrev reminded that the Shah Deniz consortium was expected to choose by mid-2013 whether to transport Shah Deniz II production via the Nabucco West pipeline or the rival Trans-Adriatic pipeline (TAP).

Dobrev noted that the Nabucco West pipeline was the preferred option for Bulgaria, adding that the country would do its best to tip scales in favor of the EU-backed project.

Commenting on where Bulgargaz would sell gas, the CEO of the company made clear that the customers would be sought after the completion of the gas grid interconnection projects with Serbia, Romania, Greece, Turkey, or Macedonia.

"However, guaranteeing the interests of Bulgarian consumers comes first," he added.

Gogov said that the talks with the Shah Deniz 2 consortium would continue regardless of their choice of supply route to Europe.

He admitted that the opening-up of the gas market would result in increased competition, adding that the price did not always depend on the presence of more players on the market.

"The price is determined by the market, and in Bulgaria there is more demand than supply," the CEO of Bulgargaz stated.

He suggested that a number of sectors in Europe had indicated that the counterpoising of large players was not always a good solution for market liberalization

"The Shah Deniz 2 consortium itself is an example how large companies unite and the interests of all are preserved," he explained.

Ivanka Dilkovska from the Energy Management Institute drew attention to the fact that talks were underway in a number of European countries for decoupling crude oil and natural gas prices.

She said that it had been already introduced in France, where 80% of the price was determined by market, adding that the step was about to be adopted in Belgium too.

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Tags: gas, gas markets, Bulgargaz, Bulgarian, Dimitar Gogov, Shah Deniz
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