Bulgaria may launch joint venture to transport Azerbaijani gas

Bulgarian Economy, Energy and Tourism Minister Traicho Traikov told a news conference at the Council of Ministers Wednesday that Bulgaria and Azerbaijan will establish a joint venture company to make a feasibility study of the opportunities for the supply of natural gas from Azerbaijan to Bulgaria, Bulgarian news agency (BTA) reported.

The Government has authorized the minister to sign a Memorandum of Cooperation with the Azerbaijani Ministry of Energy.

The agreement provides a framework and opportunities for discussion of the purchase and transport of natural gas as part of the Nabucco pipeline quota, as well as by alternative methods of transport in the form of compressed gas via the Black Sea, the minister said.

Traikov recalled that there is a preliminary agreement between the two countries for the supply of 1,000 million cubic metres of natural gas a year from Azerbaijan to Bulgaria.

According to the Bulgarian side, larger quantities, to the tune of 7,000-8,000 million cubic metres, could be transported along this route not only for Bulgaria, but also through Bulgaria.