Bulgaria proposes gas storage facility for Turkish Stream

Published 21.06.2015 22:49

Bulgaria wants to build a storage facility in its territory for the proposed Turkish Stream natural gas pipeline project, Russian Minister of Energy Alexander Novak has said.

In December, Russian President Vladimir Putin announced the cancellation of the South Stream project, which was supposed to carry Russian natural gas to Europe through Bulgaria, proposing a new route instead. The new project, the Turkish Stream pipeline, will carry Russian gas to Europe through Turkey's northwestern region of Thrace to Greece.

After losing the possible benefits of the South Stream, the Bulgarian government proposed to Russia to build a natural gas storage facility. "Bulgaria has renewed its desire to build a natural gas storage facility," Novak said on Friday, adding that the facility would be located in Bulgaria and not on the border between Turkey and Bulgaria.

Novak addressed the media during the St. Petersburg International Economic Forum (SPIEF) and spoke of his meeting with Bulgarian Minister of Energy Temenuzhka Petkova. He indicated that the same proposal was made six months ago without providing further information regarding Russia's position on the project.

The Turkish Stream is expected to have a capacity of carrying 63 billion cubic meters of natural gas per year. It will deliver 47 billion cubic meters of gas to Europe while the remaining amount will be allocated for Turkey's domestic use. The agreement for the construction of the Turkish Stream gas pipelines may be signed by the end of June, Novak said on June 18.

Meanwhile, Putin and Greek Prime Minister Alexis Tsipras signed a memorandum of understanding to become partners in the Turkish Stream project on Friday.

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