Bulgartransgaz

Bulgaria's state-owned energy company, "Bulgargaz," has suffered a significant setback, losing 27% of its market share as a result of a contract with the Turkish company "Botas." The contract, negotiated by the caretaker government, has raised concerns about its financial implications and the utilization of resources.

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.

"Bulgartransgaz" and Turkey's gas transmission system operator, "Botas," have officially signed an Agreement for the interconnection of the Strandja - Malkoçlar point, marking a key milestone in fostering the diversification of natural gas sources.

Bulgargaz, the national gas company, projects a notable reduction in natural gas prices by nearly 6% for February. The company has submitted an application to the Bulgarian energy regulator outlining the expected change in pricing.

The National Assembly has enacted changes exempting "Bulgartransgaz" from collecting a new fee imposed on "Gazprom" for gas transit through the Turkish Stream pipeline. The decision, backed by several parties, including WCC-DB, GERB, and DPS, was passed in two readings. Notably, members from "There Is Such a People" also voted in favor, while "Vazrazhdane" opposed, and BSP abstained.

The European Commission has approved, in accordance with EU state aid rules, a Bulgarian measure in the amount of 16 million euros to support the expansion of the Bulgartransgaz gas storage facility in Chiren.

According to the leader of the Political Party "Vazrazhdane" Kostadin Kostadinov, the government between GERB-SDS and WCC-DB will cause damage to Bulgaria that will be difficult to recover.

According to Kostadinov, the removal of Bulgartransgaz from the prohibition list for privatization and its sale to an American company is being prepared.

The construction of the gas connection between Bulgaria and Serbia on Bulgarian territory will being on February 1, according to a press release from the presidency.

Bulgaria launched a project to almost double its gas storage with a €152 million deal between grid operator Bulgartransgaz and a Bulgarian-led consortium signed on Friday.

The thermal power plants will operate without restrictions until 2038, and Bulgaria is abandoning its commitment to reduce carbon emissions by 40% by the end of 2025.

The general draft decision of the energy parliamentary committee passed in the hall with 187 votes "in favor", 2 "against" (WCC) and 9 "abstentions" (5 from DB and 4 from WCC).