Energy Minister Malinov Announces Bulgargaz Could Transfer Part of BOTAS Agreement Rights to Third Parties

Business » ENERGY | July 11, 2024, Thursday // 12:51
Bulgaria: Energy Minister Malinov Announces Bulgargaz Could Transfer Part of BOTAS Agreement Rights to Third Parties

An informal agreement was reached on the possibility of Bulgargaz offering for transfer part of the rights under its agreement with Turkish energy company BOTAS ,signed on January 3, 2023, said caretaker Energy Minister Vladimir Malinov during a hearing in Parliament. A meeting between Bulgargaz and BOTAS representatives took place at Malinov's initiative with his Turkish counterpart Alparslan Bayraktar on  April 27.

Within the framework of the meeting, Malinov informed his Turkish colleagues about the decision of the Bulgarian National Assembly and expressed his position regarding the need to renegotiate the agreement between the two companies due to the significant change that occurred in the natural gas market from the time of its signing until the decision was made at the Bulgarian Parliament.

The two energy ministers have instructed the management of the two companies to start active work in connection with the renegotiation of the agreement.
Malinov was heard in Parliament regarding long-term securing and diversification of gas supplies, the results of the actions taken to renegotiate the agreement between Bulgargaz EAD and BOTAS, and the measures to overcome obstacles to the commissioning and operation of the terminal for liquefied gas in Alexandroupoli, in which Bulgaria is a co-shareholder.

Deputy National Assembly Chair Rositsa Kirova presided over the meeting and indicated that more information could be  discussed at a meeting behind closed doors, if the MPs allow it.

Radoslav Ribarski (Continue the Change-Democratic Bulgaria) requested that the entire hearing be held in a closed session. However, his proposal was not accepted./BTA

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