Bulgaria: Turkey strengthens energy ties to replace Russian gas

Bulgaria is intensifying efforts to enhance regional energy security through the development of strategic infrastructure aimed at reducing dependence on Russian gas. A central initiative in this process is the Vertical Gas Corridor, designed to transport liquefied natural gas (LNG) regasified at Greek ports to Central and Eastern Europe, including Ukraine. Greece’s Revitusa LNG terminal,…

Bulgaria: Bulgargaz drowns in debt

Bulgargaz is currently facing serious financial difficulties, with projected losses for 2024 amounting to 280 million leva, according to Energy Minister Zhecho Stankov. A significant portion of this financial strain is due to growing debts to Turkey’s Botas, which have already reached 220 million leva and are expected to rise to 250 million once the…