Bulgaria, Country has requested a two-week delay for the finalization of LNG supply contract

, SEE Energy News

Caretaker Minister of Energy Rossen Hristov said that Bulgaria has requested a two-week delay for the finalization of liquefied natural gas (LNG) supply contract with US company Cheniere.

Minister Hristov explained that the postponement is necessary so that Bulgaria can negotiate slots for offloading LNG tankers at the Revythoussa LNG terminal in Greece. However, if the government fails to obtain the delay, the deal with Cheniere will fall through.

The offer for LNG deliveries by Cheniere was agreed by the former Government of Kiril Petkov. Former energy minister Alexander Nikolov said earlier this month that the binding offer of Cheniere is for seven LNG tankers, three of which to be delivered in 2022, with the first one due to be offloaded in October. The original deadline for signing a deal is 19 August.

Minister Hristov added that Bulgaria has sent requests to all available suppliers and is looking to secure natural gas supplies corresponding to at least a 120 % of its needs, so as to provide for any eventuality.

Gas supplier Bulgargaz is also preparing to launch an auction for the short-term supply of LNG so as to secure the country’s energy needs throughout the upcoming heating season.