Under the new 13-year agreement, Bulgargaz will be able to import LNG through Turkey's LNG terminals.
“With this agreement, there will be a gas transfer of up to 1.5 billion cubic meters per year. It will make a great contribution to the natural gas supply security of Europe, especially Bulgaria,” Turkish Energy Minister Fatih Donmez said.
Bulgarian Energy Minister Rossen Hristov described the agreement as a "historical document".
“Thanks to this agreement, we are now able to purchase gas from producers all over the world. This is a solution not just of national and regional importance, but also of importance for Europe,” Hristov told reporters.
The country imports over 90% of its natural gas from Russia via the Turk Stream pipeline under a 10-year contract, which is set to expire at the end of 2022.
Due to the 2022 Russian invasion of Ukraine, Bulgaria's deputy prime minister Asen Vasilev on 19 March said that the country would not hold talks to renew the contract.
In April, it was announced that Russia will suspend sending gas supplies to Bulgaria and Poland, in exchange for their refusal to pay in roubles. (ILKHA)