Bulgaria open to talks with Azerbaijan on buying more gas - minister
BAKU. July 1 (Interfax) - Bulgaria supports the expansion of the Southern Gas Corridor (SGC) and is prepared to hold talks with Azerbaijan on possibly increasing natural gas imports, Bulgarian Energy Minister Vladimir Malinov said at the sixth meeting of the Azerbaijan-Bulgaria intergovernmental commission on economic cooperation in Baku on Monday.
Bulgaria is prepared to work on increasing the potential of the SGC and supports its expansion, and is willing to discuss the possibility of importing more natural gas from Azerbaijan, Malinov said, referring to the doubling of the SGC's capacity to 20 billion cubic meters of gas per year.
He said Azerbaijan is a strategic partner of Bulgaria in the area of energy and noted that there is regular, constructive dialog between the two countries' energy and economy ministries. Bulgaria appreciates Azerbaijan's support for its government's efforts to diversify the sources and volumes of natural gas supplies to the country and Southeast Europe, Malinov said.
He also recalled that last week Bulgaria's Cabinet approved the country's participation in a joint venture to carry out the Black Sea Energy project, which involves laying an underwater power cable to link Azerbaijan, Georgia and Europe.
Bulgaria will play an important role in this project thanks to its developed electricity transmission system, high performance interconnections with neighboring countries, developed electricity market and potential for investment in renewable infrastructure and energy, as well as growing demand for green energy, both in Bulgaria and the region in general, Malinov said.
Bulgaria has a long-term contract with Azerbaijan for the delivery of 1 billion cubic meters of gas per year.
Azerbaijani Economy Minister Mikayil Jabbarov said earlier that Azerbaijan's gas supplies to Bulgaria in 2024 will cover more than 55% of its annual needs. Azerbaijan's gas exports to Bulgaria more than doubled to 1.25 bcm in 2023 from 600 mcm in 2022.
Azerbaijan's overall gas exports are expected to total 24.3 bcm in 2024, with half of this gas going to Europe. The country increased gas exports by 5.3% to 23.8 bcm in 2023, including 3.5% to 11.8 bcm to Europe.
Azerbaijan now has gas supply contracts with Italy, Greece, Bulgaria, Romania, Hungary and Serbia and a number of other countries in Europe have expressed interest in buying. Azerbaijan also sells gas to Turkey and Georgia.