2024-02-15 14:54:26
The volumes of natural gas supplied to Bulgaria from Azerbaijan via the Greece-Bulgaria interconnector (IGB) have significantly contributed to ensuring favorable gas prices in Bulgaria, Day.Az reported on Friday.
The Bulgarian Energy and Water Regulatory Commission (EWRC) said gas through the IGB covers more than 42 percent of the country’s monthly consumption.
Thus, the EWRC decided to reduce the price of natural gas by 8.4 percent in February, fixing it at 71.08 leva (equivalent to 36.4 euros) per megawatt hour. This marks a noticeable reduction from the price of 77.60 leva per megawatt-hour approved in January.
Apart from IGB, the needs of the domestic market are met by two other sources, namely LNG supplies and the Chiren underground gas storage facility.
Note that the Greece-Bulgaria interconnector began commercial deliveries on October 1, 2022.
The contract volume of gas supplies to Bulgaria via this interconnector is 1 billion cubic meters per year. The total capacity of the IGB is 3 billion cubic meters, expandable to 5 billion cubic meters per year.
Increasing the capacity of the Greece-Bulgaria interconnector over 5 billion cubic meters of gas is possible through the construction of an additional gas pipeline.
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