Bulgarian caretaker Energy Minister Traycho Traykov indicated that the government may seek to renegotiate its existing gas agreement with Turkey’s state-owned pipeline operator, BOTAS. He suggested there could be room for a revised arrangement that better serves both parties.
Minister Traykov explained that the original deal was concluded when Bulgaria urgently needed access to Turkish gas infrastructure. While the partnership’s concept remains valid, he argued that the financial terms have proven problematic and overly costly from Bulgaria’s perspective. The Minister also acknowledged that Bulgaria has not been fully meeting the payment obligations, with current liabilities under the contract amounting to roughly $500,000 per day.
Traykov recently discussed the matter with Turkey’s deputy Energy Minister during a meeting on the bilateral gas relationship. Following the talks, he expressed optimism that negotiations could yield a mutually acceptable solution and potentially lead to contract adjustments.
The deal, signed in early 2023, reserves up to 1.85 billion cubic meters per year of LNG capacity through the Strandzha-Malkoclar interconnection under take-or-pay conditions.
