Bulgartransgaz Under European Scrutiny for Controversial Gas Agreement

Business » ENERGY | August 13, 2024, Tuesday // 12:07
Bulgaria: Bulgartransgaz Under European Scrutiny for Controversial Gas Agreement

This morning, the European Prosecutor's Office gained access to the gas operator "Bulgartransgaz" with the assistance of local police, as reported by bTV. The European Commission has declined to comment on the ongoing investigation, and the exact number of participants remains undisclosed.

The Ministry of Internal Affairs revealed that the investigation is related to the Turkish gas company Botas, which has been under scrutiny by the European Commission for several weeks. The investigation follows a deal between Bulgaria and Botas, facilitated by "Bulgargaz," under the interim government of Galab Donev in January 2023. This agreement provides access to liquefied natural gas (LNG) regasification terminals and its subsequent transfer to Bulgaria from January 1, 2023, to December 31, 2035.

The Bulgarian government has been attempting to renegotiate the contract, which was reviewed by a parliamentary committee but without success. In April, the Bulgarian Parliament decided to refer the contract to the prosecutor's office and the State Agency for National Security (SANS) for further examination.

On April 19, the National Assembly directed Acting Minister of Energy Vladimir Malinov to renegotiate the agreement with Botas. Malinov, who previously served as the executive director of Bulgartransgaz, was involved in the tripartite agreement between Botash Bulgargaz, and Bulgartransgaz, signed on January 3, 2023.

A few days later, Radoslav Rybarski, a "We Continue the Change-Democratic Bulgaria" (WCC-DB) MP, stated that Bulgargaz was responsible for the unfavorable contract with Botas, suggesting that external influence may have impacted the deal.

On July 11, Acting Energy Minister Malinov disclosed that Bulgargaz had formally proposed renegotiating the agreement with Botas on July 4. The proposal included a draft of an additional agreement aimed at aligning the contract with current market levels for services provided by Botas, ensuring financial stability, and maintaining the advantages of the original agreement, particularly regarding the security and diversification of energy supplies.

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Tags: Bulgartransgaz, gas, European, Botas

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