TurkStream Gas Pipeline Generated Over BGN 1.3 Billion in Revenue for Bulgaria

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Since the activation of the extension of the Turk Stream gas pipeline passing through Bulgarian territory, the revenue generated from reserved capacities and the volume of natural gas transported between Bulgaria's borders with Turkey and Serbia has amounted to BGN 1.308 billion. This figure accounts for the period spanning from January 1, 2022, to March 26, 2024, covering the route between Strandzha2/Malcochlar (at the Turkish border) and Kireevo/Zajecar (Bulgarian/Serbian border), as reported by state gas operator Bulgartransgaz and cited by Mediapool.

Operational costs for maintaining the route, including compressor stations and gas measuring stations, amounted to BGN 44 million. However, this expenditure pales in comparison to the significant returns on investment. Bulgartransgaz invested BGN 2.5 billion (excluding VAT) in constructing the 474-kilometer section, which has already repaid more than half of the initial investment.

The Russian energy giant Gazprom, the primary user of the pipeline, has contributed substantially to these revenues, paying transit fees amounting to BGN 683 million in advance. This financial injection occurred even before the pipeline's construction, indicating the strategic importance of the project for regional energy transit.

The data also reveals operational insights, with nearly 487 million MWh of Russian gas entering Bulgaria through the pipeline, while over 217.7 million MWh have been transported to Serbia. However, operational efficiency remains a consideration, as the pipeline operates at around 83.23% to 93.94% of reserved capacity at various points, leaving a notable portion unfilled. 

The gas operator clarifies that the availability of capacity relies on the volume of gas requested for...

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