Balgarianovinite.com No additional economic or political conditions were set by either the Bulgarian or the Turkish side when the protocol between Bulgargaz and BOTAS was signed, establishing a 15-month period to find a mechanism for using the agreement between the two companies more effectively, Energy Minister Iva Petrova told the Bulgarian National Television on Sunday.
Petrova explained that Bulgargaz and BOTAS had reached an agreement through a protocol to work over a period of 15 months on finding a solution that would make it possible to utilize the full potential of the contract. The aim is to further develop the contract so that the two companies enter into a highly effective and mutually beneficial partnership that provides them with prospects across the entire region of Eastern, South-Eastern and Central Europe in terms of guaranteeing security of supply.
The deal with BOTAS was signed on January 3, 2023. Under the contract, the Bulgarian side booked capacity of 106.4GWh/day on the Turkish LNG regasification terminals and agreed to pay for this BGN 1 million (EUR 512,000) daily for a period ending in 2035. At present, Bulgargaz does not import gas under the agreement with BOTAS, and in early May its arrears to the Turkish company approximated BGN 300 million. If the 13-year take-or-pay agreement is rescinded, the Bulgarian company will be liable for close to BGN 3 billion in damages. By a resolution passed on April 19, 2024, the Bulgarian National Assembly assigned then-energy minister Vladimir Malinov to take action for re-negotiating the agreement.
According to her, the Government’s ambition is for Bulgargaz, within this 15-month period, to have a strategy for making maximum use of the opportunities provided by BOTAS, so that Bulgaria can strengthen its position on the region’s energy map through its companies.
Petrova stated that the amount of liabilities between Bulgargaz and BOTAS stands at around EUR 360 million, noting that the protocol records agreement on finding an effective mechanism for settling these liabilities without burdening the State Budget or Bulgarian citizens. The specific parameters of this mechanism will be included in the renegotiation process, and the options could vary widely, including instalment payments or reformulation into other benefits within the framework of the renegotiated contract.
She pointed out that the contract with BOTAS was concluded between two companies in 2022, when the main argument was ensuring security of supply. Since then, the contract has had potential but has not been utilized, more due to political reasons and the sabotaging of the contract than because of any lack of willingness on the part of the companies.
Petrova stressed that the contract has always been used when it comes to security of supply, but for purely political reasons this has not been publicized. She added that policies had also been implemented which led to the sabotaging of the contract, such as the introduction of the so-called energy fee in 2023, which in turn “blew up” Bulgaria’s credibility among potentially interested parties such as Serbia and Hungary.
Petrova emphasised that it had been agreed that no interest would accrue on the liabilities during the 15-month period and that, during this time, Bulgargaz would not pay for the reserved capacity, but only for the capacity actually used for deliveries, and under significantly better terms and conditions.
The Energy Minister stated that the BOTAS contract has nothing to do with motorways, water resources or free electricity transmission. She added that no additional economic conditions were imposed by either the Bulgarian or the Turkish side during the signing of the protocol.
She noted that when circumstances change and the market is reshaped, it is entirely normal for the two companies to allow themselves time to find a way to utilize the full potential of the contract, with negotiations being conducted on the basis of mutual interest.
Petrova stated that the BOTAS contract represents an opportunity for Bulgargaz to participate in the market as a market player rather than as an observer.
She said that negotiations are moving towards optimising the contract’s parameters, including fees and quantities, as part of an overall agreement between the two companies aimed at utilising the contract’s full potential.
“What was signed through the protocol, without additional political or economic conditions, is an agreement for the two companies to sit down and conduct genuinely meaningful negotiations, to establish a framework that will enable both companies to make full use of this commercial agreement and realise its full potential,” she said.
According to Petrova, the country’s priority is ensuring the safe operation of the existing units at the Kozloduy Nuclear Power Plant, while at the same time there are commitments to projects for adding new capacity to the system. She described the project for Units 7 and 8 at the Kozloduy Nuclear Power Plant as “strategic”. Regarding the equipment intended for the Belene Nuclear Power Plant, Petrova said that one of the possibilities is the construction of a nuclear power plant jointly with Ukraine with the support of European funding.
“The issue that concerns the Ministry of Energy, and which we have undertaken as a commitment, is in fact to integrate all these opportunities into a new model of the energy system so that we can assess them both from the perspective of the energy sector itself. Our commitment is to propose such a project for an integrated vision by the end of the year, including with regard to all opportunities for nuclear capacity,” she said. No Additional Economic or Political Conditions Attached to BOTAS Deal Review Agreement, Says Energy Minister 2026 THE NEWS FROM BULGARIA – NEWS AGENCY 2009-2025 2026-07-12 09:58:00 Latest news World news Country news Most important news latest news most important latest of the day Justice Petar Nizamov Feathers Petar Nizamov- Feathers Justice bg iustitia.bg iustitia iusticia usticia investigation Burgas Bulgaria news news of the last hour news of the day news of today Bulgaria news The news from Bulgaria blitz news top news most important most commented latest news Boyko Borisov news weather coronavirus news news weather facebook youtube facebook instagram news today news of the last minutes news today today news news bg news leading news hot news bg news site for news all news news bg news of the last hour latest latest news bg news of today news today news today news of the last hour latest news today news bg news news 24 hours news vesti bg novini news world bird bg bivol bg bivol trud bg novini latest news today novinite bg news hello bulgaria political party coat of arms delyan peevski scandalous Bulgarian National Television Free Europe Television scandal exclusive live tv live right now tv tv online tv program bg live now tv news online tv online live court Burgas court Burgas district court Burgas court Burgas district court Burgas district court Burgas appellate court Burgas prosecutor Burgas prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Prosecutor General Ivan Geshev Prosecutor Geshev Tsatsarov Ministry of Internal Affairs Burgas ODMR Burgas ODPR Burgas police Burgas district police Burgas prosecutor Tsatsarov SGS cases Varna court chairman of the SGS court decisions on civil cases decisions on cases Plovdiv court decision of the court decisions cases Varna court criminal cases district district court decisions work in the court SGS chairman of the SGS judges Sofia court post judges Plovdiv court Plovdiv judges Plovdiv Supreme Court Inspectorate Supreme Court Supreme Judicial Council lawyer lawyer criminal cases lawyer civil cases lawyer marriage cases lawyer administrative criminal law criminal process civil law civil process administrative law constitutional law