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HomeOil & GasBulgartransgaz boosts its investments to develop the gas transmission system

Bulgartransgaz boosts its investments to develop the gas transmission system

“Various carbon capture and utilisation technologies are being developed that will enable blue fuel to also obtain a green, carbon-neutral status.” This was pointed out by the Executive Director of Bulgaria’s natural gas transmission and storage system operator Bulgartransgaz, Vladimir Malinov, trying to take the distance from Russian gas and instead insisting on a transitional fuel that can help us reach low-carbon economies.

“The consumption of Russian natural gas in the European Union is less than 10 per cent and in Europe as a whole is less than 15 per cent,” Mr Malinov emphasised. “The supply in our country is currently delivered from the Caspian region, while the imported liquefied natural gas (LNG) comes from the United States, North Africa and the Middle East. Norway is also an important supplier for Europe.”

Regarding the energy prices, Mr Malinov noted that the situation has normalised since last year. According to him, through long-term supply contracts from new deposits in the US, for example, more competitive prices can be achieved.

“In the next 10-15 years, LNG will continue to play a key role,” he said. “That is why Bulgartransgaz is fostering its investments to develop the gas transmission system. For example, after the construction of the Bulgaria-Serbia interconnector, our neighbours will get access to liquefied natural gas and Bulgaria, to markets in Central Europe.”

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