Tuesday, August 16, 2022

HomeLNGBulgaria secures 7 LNG cargo ships from the US

Bulgaria secures 7 LNG cargo ships from the US

Bulgaria’s Ministry of Energy proposed to sign a contract on the delivery of seven cargo ships with liquefied natural gas (LNG) from the United States, in order to increase the energy security of the country.

The announcement was made by outgoing Prime Minister Kiril Petkov, adding that the deal will be confirmed on 19 August by the next government, which is also entitled to find a better offer.

As announced by the Minister of Energy, Alexander Nikolov, the first cargo already agreed upon will arrive in October via the Greek LNG terminal of Revithoussa. Overall, three ships are expected by the end of this year and an additional 4 in 2023.

Minister Nikolov emphasised that the contract provides an opportunity for energy security in the coming months and more clarity for the business. 

Without mentioning the provider, Minister Nikolov revealed that the price for the first three shipments is roughly 30 US dollars per megawatt-hour lower than the European average. 

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