Bulgartransgaz Sets Up Unit to Run Trading Platforms of Planned Gas Hub
Bulgaria's natural gas transmission system operator Bulgartransgaz has set up a subsidiary, Balkan Gas Hub, to run trading platforms for markets that would be serviced by a planned regional distribition centre in the country, the company said. In synergy with the physical infrastructure of the gas distribution hub, the prerequisites required for establishment of the first, Bulgaria based, liquid physical and trading gas hub in the region of Southeast Europe will be provided, the state-owned company said in a statement late on Thursday. In line with its objectives, the wholly-owned subsidiary of Bulgartransgaz will establish a liquid gas exchange on the territory of Bulgaria with a bilateral trade segment, offering state-of-the-art products and financial services, it added. Bulgartransgaz could provide up to 49% of the shares of Balkan Gas Hub company to other physical and legal entities at a later stage.