Bulgartransgaz Creates Subsidiary for Gas Distribution Hub
Bulgartransgaz EAD has set up its subsidiary Gas Hub Balkan EAD in connection with the initiative for the construction of a gas distribution hub in Bulgaria. In a press release, the company said the creation of the subsidiary was pursuant to the decision by the Council of Ministers and the Parliament to amend Bulgaria’s 2020 energy strategy. In the future Bulgartransgaz will keep at least 51% in the subsidiary, which will develop a liquid gas exchange in Bulgaria, with a segment for bilateral trade. Initially, Gas Hub Balkan will give the participants in the natural gas market in Bulgaria and the region the opportunity to use a trading platform in line with Art. 10 of Regulation (EU) No 312/2014 establishing a network code on gas balancing of transmission networks. The proposed gas hub will improve energy security, diversify gas supply sources and routes and ensure competitive prices for consumers, Bulgartransgaz said.
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