Bulgaria signs agreement on access to Turkish LNG terminals
Turkey has granted Bulgaria access to its liquefied natural gas terminals, opening up "a corner of the European gas market that could help diversify the supply structure in the region," Bloomberg reports.
According to the agreement signed in Sofia on Tuesday, the Bulgarian state-owned company Bulgargaz EAD will be able to import LNG through Turkish terminals and the network for 13 years.
Bulgaria will be able to use a total capacity of about 1.5 billion cubic meters per year, Turkish Energy Minister Fatih Donmez told reporters. If implemented, the capacity meets about half of Bulgaria's domestic demand.
Prime Minister of Bulgaria Gulab Donev called the agreement иcтopичecĸим, пocĸoльĸy Typeцĸaя Pecпyблиĸa provided the first third-party ĸoмпaнии access ĸ its LNG terminals.
While Western Europe is rushing to build new infrastructure to replace Russian gas, Turkey, according to Bloomberg, used less than half of its four LNG terminals with a capacity of 21.9 million tons last year. The fifth facility is due to be launched at the end of this month.
In addition to LNG, Ankara is investing in new storage facilities and is negotiating with Russia and Turkmenistan on new supplies that can pass through Turkey to Europe. Potential obstacles include pipeline costs, which could run into billions of dollars, and geopolitical tensions between the EU and Russia.
Turkey took another step towards its goal in December when Romania agreed to import Azerbaijani gas through Turkey. Currently, Bulgaria receives a third of its annual supplies from Azerbaijan under a long-term contract.
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