Bulgaria Seals Gas Delivery Deal with Turkey

Business » ENERGY | November 19, 2011, Saturday // 14:25
Bulgaria Seals Gas Delivery Deal with Turkey: Bulgaria Seals Gas Delivery Deal with Turkey Bulgaria's Economy and Energy Minister, Traicho Traikov, is attending over the weekend the Black Sea Energy and Economy Forum in Istanbul. Photo by BGNES

Bulgaria and Turkey will sign a political agreement to build a gas pipeline connection between the two countries for emergency gas deliveries from Turkey to Bulgaria.

During the Black Sea Energy and Economy Forum in Istanbul, Bulgaria's Economy and Energy Minister, Traicho Traikov, and Turkish Energy and Natural Resources Minister, Taner Y?ld?z, have successfully negotiated plans for the pipeline, and agreed this was a strategic project for both countries, the Bulgarian Economy, Energy and Tourism Ministry reports Saturday.

Traikov and Yildiz discussed the results of the work of the expert group which is studying and assessing the technical and commercial aspects of transport of natural gas through Turkey to Bulgaria.

The Bulgarian-Turkish gas pipeline, along with the interconnector from Greece, will provide deliveries of Caspian "blue fuel" not only for Bulgaria, but for the entire region, and cheaper deliveries through a liquefied gas (LNG) terminal.

The 77-km pipe will have a capacity of between 1 to 3 billion cubic meters of gas a year, which could later be doubled.

Traikov says the agreement has great importance because it means diversification of sources and routes, competition among suppliers and cheaper gas prices, stressing the investment is relatively small, but benefits - huge for both Bulgaria and the entire region. He was firm the political agreement must give companies warrantees the project is a strategic one, and would be executed in the next few years.

His Turkish counterpart informed him about the endorsed package of agreements for the transit of natural gas between Turkey and Azerbaijan, which opens doors for Azeri gas in Europe.

The forum will also debate the future of the EU Nabucco gas pipeline project and the new project of the Shah Denis consortium for a gas pipeline which could use the circle-shaped Bulgarian gas network through interconnectors with neighboring countries.

Traikov and Yildiz agreed on an accelerated signing of the agreement for emergency deliveries of gas from Turkey to Bulgaria via already existing gas pipeline as an additional reaction mechanism during a possible gas crisis over interruption of deliveries from other suppliers.

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Tags: Istanbul, Black Sea Energy and Economy Forum, Traicho Traikov, Economy and Energy Minister, azerbaijan, Caspian, Taner Yildiz, Nabucco, transit, pipeline, turkey, delivery, gas, natural, Bulgaria, diversification

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