Turkey, Bulgaria Sign Gas Deal Amid Russian Cutoff

Bulgaria and Turkey on Tuesday signed a 13-year deal granting access to liquefied natural gas (LNG) and a network to transit supplies to its borders.

Turkey’s Energy and Natural Resources Minister Fatih Dönmez said that the deal foresees a transport of up to 1.5 billion cubic meters (bcm) of gas per year and will help increase the security of supplies in southeastern Europe.

The agreement will also give Bulgaria access to Turkey’s gas network and liquefied natural gas terminals to help bring in supplies.

Under the agreement, the natural gas that Bulgaria will acquire from international markets will be processed in Turkey, before being delivered by pipeline.

Bulgaria has been trying to secure alternative gas supplies at affordable prices after Russia cut off deliveries in April.

Last month, Turkey's natural gas imports also decreased by 30.47%. Total oil imports also decreased by 0.04% in the same period.

The country's Energy Market Regulatory Authority (EPDK) said that natural gas imports fell to around 3.23 billion cubic meters (bcm) from approximately 4.65 bcm.