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Bulgaria may halt the transit of Russian gas to Serbia via the TurkStream pipeline starting in the new year if Gazprom fails to ensure payment compliance with U.S. sanctions against Gazprombank. Energy Minister Vladimir Malinov, speaking to journalists, emphasized that Bulgartransgaz cannot continue gas transmission without December payments, which have historically been processed through the now-sanctioned Gazprombank. The Russian energy giant is expected to clarify its payment method soon, Malinov stated, as quoted by Mediapool.
Gazprombank holds the primary capacity reservations for TurkStream’s extension through Bulgaria to Serbia until 2039, making its payments critical to Bulgartransgaz operations. However, recent U.S. sanctions on the Russian bank have complicated financial transactions. This development raises uncertainty about the continued operation of the pipeline, a key transit route for Russian natural gas bypassing Ukraine, established following the failure of the earlier "South Stream" project.
Malinov, addressing the "Powers Summit" forum in Sofia, also highlighted the broader issue of separating social policy from energy policy. He noted that defining "energy poverty" should not rest solely with the Ministry of Energy and stressed the importance of a clear and collaborative approach involving various stakeholders. Acknowledging this distinction would facilitate progress toward full energy market liberalization, a goal that requires coordinated efforts across government, parliament, and industry.
The minister proposed forming an interdepartmental working group under the Council of Ministers, jointly managed with the National Assembly's Energy Committee. This group would develop legislative measures ensuring market predictability, long-term stability, and transparency. Malinov also underscored the need for Bulgaria to provide a definitive timeline to its European partners for market liberalization, emphasizing the necessity of addressing public awareness challenges.
On infrastructure, Malinov advocated for advancing the pumped-storage hydroelectric power plant projects at Batak and Dospat through public-private partnerships due to their high financial demands. He called for political backing to ensure the successful development of these initiatives, which are vital for Bulgaria's energy sector.
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