Bulgaria tenders for gas supplies to ride out energy crisis

Bulgaria's state gas company, Bulgargaz, is launching three tenders for liquefied natural gas (LNG) on Tuesday to avoid winter shortages and ensure long-term energy security, said Chief Executive Denitsa Zlateva. The Balkan country was almost totally reliant on Russian gas before Moscow cut deliveries in August and is now struggling to secure sufficient supplies at affordable prices for businesses in the European Union's poorest member state.


Reuters | Updated: 20-09-2022 17:39 IST | Created: 20-09-2022 17:06 IST
Bulgaria tenders for gas supplies to ride out energy crisis
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Bulgaria's state gas company, Bulgargaz, is launching three tenders for liquefied natural gas (LNG) on Tuesday to avoid winter shortages and ensure long-term energy security, said Chief Executive Denitsa Zlateva.

The Balkan country was almost totally reliant on Russian gas before Moscow cut deliveries in August and is now struggling to secure sufficient supplies at affordable prices for businesses in the European Union's poorest member state. The interim cabinet that took office in August after the collapse of the coalition led by reformist premier Kiril Petkov, which refused to pay for Russian gas in roubles, has asked Gazprom to consider restoring supplies to Bulgaria.

It is also holding talks with Azerbaijan to boost gas deliveries during the winter. Bulgaria is also considering opening tenders for pipeline gas from neighboring Turkey, interim energy minister Rossen Hristov said.

"We are not closing the door to anyone," Hristov told reporters, adding that Bulgaria is aiming to buy 130-150% of its required gas in case a supplier fails to deliver. Bulgargaz has laid out its proposals to Gazprom but there have been no developments as yet, Hristov said.

The minister has previously said Bulgaria needs to press for its contracted gas from Gazprom, which was bought at cheaper prices than those available on spot markets and was for supplies until the end of 2022. Bulgaria has asked Gazprom to deliver what was due under its contract in rescheduled shipments until the end of the heating season next spring.

Bulgargaz will open a tender for LNG deliveries for the last two months of the year, CEO Zlateva said. The company will also seek offers for supplies of LNG throughout 2023 and will launch a six-month process for LNG deliveries from 2024 through 2034, she said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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