Bulgaria Develops Its Natural Gas Market
Tuesday, 24 November 2015
Sofia, November 23 (BTA) - While Bulgaria is preparing to liberalize its electricity market completely, it is also beginning to develop a natural gas trading segment, Deputy Energy Minister Zhecho Stankov told a discussion on Monday. Stankov said this will allow the local market to improve and become integrated into those of neighbouring countries.
With the construction of a natural gas distribution hub in Bulgaria, the country will acquire a functioning gas market, he predicted. The government has proposed a concept for the future gas hub in order to fulfill one of its main goals: the goal of diversifying gas supply sources and routes, he recalled. When the project is carried out, the country will have at least three different sources of gas supply and will thus fulfill one of the most important principles of the European energy market. In addition to importing gas from Russia and via the Southern Gas Corridor, it will also rely on local extraction, the Deputy Energy Minister noted.
He pointed out that last week the European Commission included the Bulgarian gas hub concept on a list of projects of shared interest, which means Sofia can expect funding from the EU.