Bulgaria says gas deal with Azerbaijan guarantees competitive prices in Europe
Azerbaijani gas plays a stabilizing role during periods of market volatility, Bulgaria’s Energy Ministry said.
According to the ministry, nearly 40% of Bulgaria’s natural gas consumption is currently supplied by Azerbaijan under a 25-year contract, CE Report informs via the Trend News Agency.
“This agreement guarantees predictability, security of supply and pricing terms among the most competitive in Europe. During periods of market instability, Azerbaijani gas performs a stabilizing function — deliveries continue without interruption, and contractual parameters limit the impact of sharp price fluctuations. This means less pressure on businesses and households, greater economic resilience, and the preservation of the competitiveness of Bulgarian industry,” the ministry said.
The ministry noted that with the commissioning of the Interconnector Greece–Bulgaria in October 2022, the country became an integral part of the Southern Gas Corridor infrastructure linking the Caspian region with European markets.
“Connectivity provides flexibility in times of crisis, access to diverse sources and more efficient use of transit potential. For Bulgaria, this means not only secure supplies but also an active role in managing gas flows in the region,” the ministry said.
The statement also cited acting Bulgarian Energy Minister Traycho Traykov, speaking at the 12th Ministerial Meeting of the Southern Gas Corridor Advisory Council and the 4th Ministerial Meeting of the Green Energy Advisory Council in Baku on March 3.
“Amid ongoing energy shocks, high exchange prices and geopolitical uncertainty, the Southern Gas Corridor is a key factor for the stability of Bulgaria and Southeast Europe,” he said.
Traykov noted that the development of regional gas infrastructure and Bulgaria’s long-term partnership with Azerbaijan on natural gas supplies are important conditions for enhancing energy security and diversifying sources and routes.
“In crises like the current one, strategic partnerships demonstrate their true value. Azerbaijan is a reliable long-term partner and the backbone of our energy stability,” the minister said.
Photo: ICGB
