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22.02.2017 15:55- Bulgarian interim energy minister Nikolay Pavlov during his visit in Baku
© Bulgarian Ministry of Energy
Azerbaijan’s energy minister Natig Aliyev has confirmed to the Bulgarian interim energy minister Nikolay Pavlov Baku’s engagement to deliver 1 bn. cub. m of natural gas per year to Bulgaria. The announcement was made by the Bulgarian Ministry of Energy following a meeting on Wednesday between the two in the Azerbaijani capital.
Aliev and Pavlov discussed the development of the bilateral relations in the energy sector, with Pavlov set to attend the third ministerial meeting on the Southern Gas Corridor on Thursday. The Bulgarian delegation also comprises the CEOs of the Bulgarian Energy Holdings and its gas subsidiaries – Bulgargaz and Bulgartransgaz.
Aliev however stressed that the requirement for the delivery of these quantities is the realization of the Greece- Bulgaria gas interconnector (IGB).
“Currently there is intense preparation work on the tender procedure for the construction of the IGB, so that the actual construction work could kick off in 2018”, minister Pavlov said.
He said that the project is financially secured . It has so far received EUR 45 m of gratuitous funding under the European Energy Programme for Recovery and a EUR 110 m state guarantee, the latter poised to secure a credit line from the EBRD and the EIB. The Bulgarian energy ministry said that there are also efforts to get additional grants from the European structural and investment funds.
Minister Pavlov said that Azerbaijani companies AGSC and SOCAR have assisted for accomplishment of the contract for gas delivery from Shah Deniz II gas field. The contract was concluded between AGSC and Bulgargaz.
“The [Bulgarian] Ministry of Energy, Bulgargaz, and the Bulgarian Energy Holding, as a stakeholder in the IGB, we showed sufficient guarantees and we managed to persuade our partners from AGSC that the Bulgarian state is firmly involved in the construction of the IGB in due time”, minister Pavlov said.
He added that he could “see a partnership between the two countries in terms of the Balkan gas hub project”, adding that Bulgaria developed the concept of the gas hub with the European Commission and that the project was among the European projects of common interest. Pavlov said that this would allow for the transport of Azerbaijani natural gas via the Bulgarian gas infrastructure.
He also invited experienced Azeri companies to take part in the tender for 3D seismic research on the extension of Bulgaria’s sole underground gas storage at Chiren.
“Azerbaijan’s gas sources are real, as are the possibilities to increase production. I think that we could be interested in the planned gas projects in Bulgaria. We are ready to take part. We count, most of all, to take part in the project for the gas storage”, Natig Aliyev said, adding that Baku believed the IGB project would be finished on time.
He called Bulgaria “a leader in the Southern Gas Corridor today”, adding that the Balkan gas hub was “an interesting project” and that Azerbaijan expects that its gas could access other European countries, such as Romania, via Bulgaria.
The two ministers supported the idea of a future Bulgaria-Azerbaijan meeting to broaden their energy cooperation.
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