Gazprom Reserves Extra Capacity with Bulgartransgaz

The Russian state gas company, Gazprom, reserved USD 412 million in advance extra capacity from the Bulgarian state operator Bulgartransgaz to allow extra energy to flow through the Bulgarian section of the Turkstream pipeline.

The agreement covers a twelve-month period from 1 July 2021 to 30 June 2022.

The Russian gas transiting through the 470-plus kilometer Bulgarian section of the Turkstream pipeline will supply consumers in Serbia and Hungary.

The advance payment allows Bulgartransgaz to pay down debts to the Saudi-Italian consortium Arkad, which built the pipeline.