Azerbaijan to start gas deliveries to Balkan Gas Hub by 2020

03/10/2016 10:53 Natural Gas

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Gas from Azerbaijan’s giant Shah Deniz 2 in the Caspian Sea will enter the Balkan Gas Hub in Bulgaria by 2020, as assured by Azerbaijan’s state oil company SOCAR.

At a meeting in Baku of the Bulgarian-Azeri intergovernmental commission for economic cooperation, both sides reiterated that 1 Bcm/year of gas from Shah Deniz 2 would flow into Bulgaria as part of the Southern Gas Corridor project. Bulgaria is currently diversifying gas supplies to the country by building interconnections and constructing pipelines between itself, Turkey and Greece. The Bulgarian government will support both Southern Gas Corridor and Gas Interconnector Greece-Bulgaria (IGB) projects. Bulgaria is likely to become a regional gas center in southeastern Europe -- bringing in gas from several sources, including Russia, Azerbaijan, fields in the Black Sea, Iran and via Greek LNG terminals, including US LNG. The cost of building the gas distribution center is between €1.2-2bn, depending on the version of the business model. The final price will be known after no earlier than 2017.

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