2024-05-16 02:43:44
Supply: Pattern Worldwide Info Company
Power cooperation between Bulgaria and Azerbaijan is growing more and more, and already in 2024 Azerbaijan will cowl 55 of the pure gasoline wants of this Balkan state.
The inspiration of gasoline cooperation between the 2 states was laid on September 13, 2013, when the Bulgarian holding Bulgargaz EAD signed a 25-year contract with the Shah Deniz consortium for the acquisition of gasoline from this Azerbaijani Caspian gasoline condensate area within the quantity of 1 billion cubic meters of gasoline per 12 months.
Bulgargaz EAD was one in all 9 European firms and holdings that signed long-term agreements on the acquisition and sale of Shah Deniz gasoline within the fall of 2013, due to which the ultimate funding determination on the full-scale growth of this area was permitted on December 17, 2013 in Baku, which launched the method the creation of the Southern Gasoline Hall (SGC) and permitting Azerbaijan to enter the European market with its gasoline from December 2020.
The SGC undertaking influenced Bulgaria’s determination to construct a reference to this gasoline hall – Interconnector Greece-Bulgaria (IGB), in addition to to contemplate the opportunity of transiting Azerbaijani gasoline via Bulgaria to different European nations.
SOCAR and Bulgartransgaz signed a Memorandum of Understanding on July 18, 2017, which mirrored the probabilities of cooperation between each firms on the prospects of making extra routes for pure gasoline provides via Bulgaria to different markets in South-Jap Europe, SOCAR’s participation within the work of the Balkan Gasoline Distribution Middle (Balkan Gasoline Hub), in addition to the transit of extra volumes of pure gasoline from the SGC along with the volumes agreed in 2013 with the Shah Deniz consortium.
All assigned duties had been applied, and Azerbaijan fulfilled and is fulfilling all its obligations.
Particularly, regardless of the delay within the development of the IGB (the inspiration of this gasoline pipeline was laid on Might 22, 2019, the gasoline pipeline was put into operation in the summertime of 2022), Azerbaijan has ensured gasoline provides to Bulgaria for the reason that starting of 2021 – via the Kulata supply level. Sidirokastro” (Kulata-Sidirokastro) on the prevailing gasoline pipeline from Bulgaria to Greece with a throughput capability of 10 million cubic meters of gasoline per day.
Due to this, Bulgaria acquired over 300 million cubic meters of gasoline in 2021.
The mix of this route and the commissioning of the IGB gasoline pipeline on October 1, 2022 allowed Azerbaijan to provide a complete of 600 million cubic meters of gasoline to Bulgaria in 2022.
In Baku, following negotiations between the President of Azerbaijan Ilham Aliyev and the President of Bulgaria Rumen Radev on Might 8, 2024, the outcomes of gasoline provides from Azerbaijan to Bulgaria in 2023 and plans for 2024 had been introduced in an announcement to the press.
As President Ilham Aliyev mentioned in his speech, “final 12 months 1 billion 250 million cubic meters of Azerbaijani gasoline had been transported to the Bulgarian market.”
“Our calculations present that by the tip of this 12 months the amount of export provides of Azerbaijani gasoline to Bulgaria will quantity to 1.5 billion cubic meters. That’s, within the language of the European Fee, Azerbaijan is increasing its actions within the European house as a pan-European gasoline provider and is sparing no effort to help resolving points associated to vitality safety,” the pinnacle of state famous.
In keeping with him, Bulgaria has develop into an essential transit nation for gasoline transportation.
“Presently, Azerbaijani gasoline is exported from the territory of Bulgaria to its neighboring nations, and, undoubtedly, sooner or later the variety of these nations will develop. That’s, it is a concrete results of our cooperation, a logical results of our very sturdy bilateral relations, since our cooperation ought to have concrete outcomes. That’s, the principle objective of cooperation is to attain higher outcomes. We see this each within the development of commerce turnover and in cooperation within the vitality sector,” President Ilham Aliyev mentioned in an announcement to the press.
Allow us to notice that Azerbaijani gasoline goes via the territory of Bulgaria to Romania and Serbia.
Following the talks in Baku on Might 8, Bulgarian President Rumen Radev emphasised that “Azerbaijan has develop into an essential, decisive associate for Bulgaria within the vitality sector and performs an essential function within the diversification of Bulgaria’s gasoline provide.”
“Within the fall of 2022, with the participation of President Ilham Aliyev within the metropolis of Sofia, we started to make use of the IGB gasoline community and thus linked the Southern Gasoline Hall with Central and Jap Europe,” mentioned the President of Bulgaria.
Since April 25, 2023, a SOCAR consultant workplace has been working in Sofia, which not solely offers with initiatives in Bulgaria, but additionally covers your complete Balkan area.
Seeing Azerbaijan as a dependable strategic associate, Bulgaria expressed curiosity in SOCAR serving to within the gasification of its small cities, and this initiative was mirrored within the Memorandum of Understanding signed on Might 8, 2024 between the State Oil Firm of Azerbaijan (SOCAR) and the Bulgarian holding firm “Asarel” (one one of many largest industrial holdings within the Balkan area).
Additionally through the negotiations in Baku, a undertaking for laying a “inexperienced” vitality cable for future vitality provides from renewable vitality sources (RES) services in Azerbaijan via Georgia and the Black Sea to Europe was mentioned.
“Azerbaijan may be very actively working on this course with associate nations, together with Bulgaria. We imagine that the feasibility research of this undertaking, which shall be prepared in just a few months, shall be a wonderful foundation for beginning work. Thus, Azerbaijan will show itself as a provider to Europe not solely of oil and gasoline, but additionally of “inexperienced” vitality,” President Ilham Aliyev emphasised on Might 8.
The top of state additionally mentioned that he invited President Radev to Azerbaijan to take part within the COP29 convention.
In keeping with President Ilham Aliyev, the potential for cooperation between the 2 nations is extensive.
It ought to be famous that Bulgarian firms will participate in Baku Power Week in June, and the subsequent assembly of the fee on cooperation between the governments of Azerbaijan and Bulgaria shall be held in early July.
Thus, interplay between the 2 nations is progressive and essential not just for bilateral, but additionally for multilateral cooperation.