Bulgaria to sign a Memorandum with Greece to ensure security of supply and storage of natural gas

One or more Greek suppliers of the Greek national gas transmission system to register as users of the Bulgarian transmission system and one or more Bulgarian suppliers to reserve slots and storage capacity as well as regasification capacity in Greece - this is what is foreseen in a memorandum of understanding between the energy ministries of the two countries, approved by the caretaker government on January 4.

The measures are in line with a European regulation to ensure security of natural gas supply.

Under the regulation, any country that does not have underground gas storage facilities on its territory should maintain strategic reserves equal to 15% of its annual consumption in another EU country.

With the Memorandum, Greek operators will be able to reserve injection and production capacities at our gas storage facility in Chiren, while Bulgarian operators will be able to use LNG for direct supply to end-users on Bulgarian territory.

The Memorandum will be concluded for a period of 12 months.

Bulgaria and Greece to cooperate in exploring the possibilities for the implementation of the Alexandroupolis-Bourgas oil pipeline project. This is foreseen in a second Memorandum of Understanding between the two countries voted today, January 4, by the caretaker cabinet.

The two countries will study the possibilities of implementing the infrastructure project for the transportation of crude oil from non-Russian sources from the port of Alexandroupolis in Greece to the Bourgas region in Bulgaria. A special working group is to be set up to carry out the necessary additional studies, explore the possibilities of structuring a project for the construction of the pipeline and analyse the options for its financing. It is envisaged that the capacity of the proposed pipeline will ensure, as a minimum, full substitution of Russian crude oil in Bulgaria by sea from alternative sources.