Azerbaijani gas supplies support Bulgaria’s gas market stability

Almost 40% of Bulgaria’s natural gas consumption is supplied by Azerbaijan under a long-term 25-year contract, caretaker Minister of Energy Traycho Traykov said at the 12th Ministerial Meeting of the Southern Gas Corridor Advisory Council in Baku.

The forum was opened by Azerbaijani President Ilham Aliyev and EU Commissioner for Energy and Housing Dan Jørgensen. The meeting brings together 27 countries, international financial institutions, and energy companies, the Ministry of Energy reported.

Amid volatile markets, Azerbaijani gas plays a stabilizing role for the Bulgarian economy. Deliveries have continued without interruption, helping to mitigate the impact of price fluctuations, Traycho Traykov said. He highlighted that with the new gas interconnection to Greece operational since 2022, Bulgaria has become part of the Southern Gas Corridor, linking the Caspian region with European markets.

Edited by Ivo Ivanov

Translated by Kostadin Atanasov