SOCAR starts supplying gas to Bulgarian industrial customers

BAKU. June 24 (Interfax) - The State Oil Company of Azerbaijan Republic (SOCAR) has begun supplying natural gas to industrial companies in Bulgaria through Bulgarian gas distributor M-Gaz, SOCAR said in a press release.

"SOCAR began supplying gas to industrial enterprises in Bulgaria on June 21, 2024. The deliveries are being made under an agreement between the governments of Azerbaijan and Bulgaria on further development of cooperation in various areas, including the energy sector, and in line with SOCAR's strategy to expand its commercial presence on the European gas market," the company said.

Bulgaria's Asarel Medet Mining and Processing Complex confirmed in a press release that it began receiving gas from Azerbaijan on Friday.

"Securing access to Azerbaijani gas is a significant milestone towards optimizing our business and enhancing the efficiency of our value chain," Asarel Medet said.

SOCAR and Asarel Medet subsidiary Asarel Investment signed a memorandum of understanding on May 8, 2024. SOCAR Balkany head Murad Heydarov said earlier that the memorandum will be another step in the development of SOCAR's business in Bulgaria.

SOCAR is working on expanding its presence in this country and studying the possibility of working with end customers, he said. With this aim in mind, the company plans to develop an internal gas distribution network in Bulgaria, Heydarov said.

Asarel Medet is Bulgaria's largest open-pit miner and processor of copper and other ores. The company produces high quality copper concentrates and cathode copper.

M-Gaz sells compressed natural gas as fuel for vehicles, and supplies natural gas for industrial production. The company holds licenses in Bulgaria, Romania, Serbia, Greece, Croatia, and Hungary.