Azerbaijan's SOCAR looks to increase share of Bulgarian gas distribution market to 7.5%

BAKU. Nov 18 (Interfax) - The State Oil Company of the Azerbaijani Republic (SOCAR) plans to increase its share of Bulgaria's gas distribution market to 7.5%, for which it and M-Gaz on November 16 began supplying natural gas directly to public facilities in this country, SOCAR said in a statement.

"SOCAR, which supplies 50% of gas consumed in Bulgaria, is seeking to expand its presence in the country's gas market and increase its share in its gas distribution sector to about 7.5%. SOCAR, M-Gaz and the Ruse Municipality have committed to implementing a pilot 'hybrid gasification' project with this in mind, the statement said.

SOCAR said it would supply gas to a school in the village of Nikolovo in the Ruse Municipality via M-Gaz as part of this project.

"For this purpose, a compressed natural gas unit has already been built and put into operation at the school. In the next few months, another 10 schools and kindergartens in the Ruse Municipality expect to receive natural gas from SOCAR," the statement said.

This project is a continuation of the partnership between SOCAR and M-Gaz, which began on June 21, 2024 with natural gas supplies to industrial enterprises in Bulgaria.

M-Gaz sells CNG as a fuel for transport, and supplies natural gas to industry. It has licenses in Bulgaria, Romania, Serbia, Greece, Croatia and Hungary.