Bulgargaz hopes there will be no more delays in Greece's gas connection

Bulgargaz expects the Greece-Bulgaria gas connection to be put into operation without further delay, no later than July 1, 2022, so that the country can receive the quantities of gas under the signed agreement with the Azerbaijani country in full , otherwise a penalty clause may be activated, says the position of the board of directors of the company. It specifies that the gas pipeline built by IGB should have been ready on December 31, 2020.

Bulgargaz believes that the then created situation – supply contract without a route for them, the company has agreed on the best possible conditions for Bulgaria. The position is based on allegations in the public space that Bulgargaz could have provided more quantities of cheap Azeri gas.

“The concluded agreements are entirely in the interest of the Bulgarian side. By signing them, the possibility of the Azerbaijani side activating a penal clause under the contract is ruled out, taking into account the lack of a contractual supply route (IGB gas pipeline). monthly) under the penalty clause equal to the value of the agreed quantities without receiving them “, the position reads.

It also emphasizes that the company does not has made independent decisions and has been assisted by experts from the Bulgarian Energy Holding and the Ministry of Energy, as well as highly qualified specialized legal advisers in foreign law.