TODAY.AZ / Business

Bulgarian minister names Azerbaijan a reliable partner of Europe in energy supplies

16 May 2017 [15:34] - TODAY.AZ

By Azernews


By Kamila Aliyeva

Azerbaijan is a reliable partner of Europe in ensuring the energy supplies and their diversification, Bulgarian Energy Minister Temenuzhka Petkova said at a conference devoted to the 25th anniversary of the establishment of diplomatic relations between the two countries on May 15.

"Over the past 25 years, relations between Bulgaria and Azerbaijan have reached the level of strategic partnership. We will continue strengthening economic cooperation, while focusing on the energy sector," the minister said, Bulgarian media reported.

Bulgaria attaches great importance to ensuring the security of energy supplies and their diversification in the region, and in this regard, Azerbaijan is a reliable partner, which can be counted on, according to Petkova.

Bulgaria is involved in the projects on construction of two interconnectors Greece-Bulgaria (IGB) and Turkey-Bulgaria.

"More than two years ago the state of IGB construction project was alarming, but during this period we’ve managed to achieve serious progress, which couldn’t be achieved without our partners from Azerbaijan," she said.

The construction of IGB, which will become a branch of the Trans-Adriatic Pipeline (TAP), is expected to begin in the first quarter of 2018.

Bulgaria is highly dependent on natural gas supplies, while prices for the commodity in the country are among the highest in Europe. The country imports over 95 percent of its natural gas, while Russia is currently a dominant supplier.  

In this regard, the Southern Gas Corridor is a project of strategic importance for the entire region of South-East Europe, including Bulgaria, which has supported the project since its initiation.

To reach its objective Bulgargaz signed a contract with Azerbaijan’s state oil company SOCAR for supplies of one billion cubic meters (bcm) of natural gas per year from the Shah Deniz 2 project.

The gas will be delivered through the Southern Gas Corridor, namely: the South-Caucasus Pipeline, Trans-Anatolian Natural Gas Pipeline (TANAP), Trans Adriatic Pipeline (TAP) and the Interconnector Greece-Bulgaria (IGB).

The SGC envisages transportation of 10 billion cubic meters of Azerbaijani gas from the Caspian region to Europe via Georgia and Turkey.

URL: http://www.today.az/news/business/161266.html

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