Bulgaria will Export Electricity in exchange for Natural Gas from Azerbaijan

Business » ENERGY | September 11, 2022, Sunday // 10:47
Bulgaria: Bulgaria will Export Electricity in exchange for Natural Gas from Azerbaijan Minister of Economy and Industry Nikola Stoyanov @BNT

Electricity from Bulgaria in exchange for gas from Azerbaijan - such an agreement was made during the visit of the Minister of Economy and Industry Nikola Stoyanov to Baku. On BNT, the minister said that with such a scheme - barter gas for electricity, we could receive quantities in the next 4-5 months, when we need it most in the winter.

"They produce electricity only from gas, and we are a large producer of electricity, we export and have overproduction. There is this possibility, it has been confirmed in principle - if we can provide them with electricity, and they instead of producing this electricity with gas, they can give it to us", explained Nikola Stoyanov - Minister of Economy and Industry.

There were several main highlights during the visit to Baku, Stoyanov said and added that the first one was related to the progress on the interconnector with the southern gas corridor.

"We have serious confidence that this gas connection will start from October 1. The Azerbaijani side has confirmed that the fulfillment of the contract we have with them for 1 billion cubic meters per year in full can be relied on," said Nikola Stoyanov.

Secondly, in the long term, the southern gas corridor is expected to be expanded, and by 3-4 years this expansion should be operational, which means that we may receive another 1 billion cubic meters of gas per year from Azerbaijan, emphasized the minister.

"They offered us, as a traditional partner, to save a small part from the expansion. This means that we will have 2 billion cubic meters per year with long-term contracts with Azerbaijan, and our consumption is about 3.5 billion per year, which means close to 60%. Experts from the Ministry of Energy will continue the talks with Azerbaijan, there will be negotiations on price, quantities, from when exactly, etc. The important thing is that we declare these quantities from now on," Minister Stoyanov explained.

A third main topic during the talks in Baku was the possible possibility of receiving additional quantities of gas this winter.

"Negotiations are also underway with Gazprom, but no one knows what will happen, and therefore opportunities are being sought to secure gas for Bulgarian businesses and citizens. Opportunities are being sought from where to get more quantities for the winter but the problem is that all countries are looking for and Azerbaijan is under great pressure," Nikola Stoyanov pointed out.

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