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EconomyGazprom smiles at Bulgaria with transit fees

Gazprom smiles at Bulgaria with transit fees

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The revenues of the Bulgarian GTS operator from the transit of Russian gas through the country continue to grow as the European branch of the Turkish Stream reaches full capacity. In the first half of the year, the contracted capacities brought in one and a half times more than the company received during the transit of Russian gas through Ukraine. This is partly due to the fact that Gazprom continues to pay for the capacities of the Trans-Balkan gas pipeline, which it booked until the end of 2030.

In the first half of the year, Bulgartransgaz received $ 94.5 million from international gas transit and increased its revenues for this service by almost $ 10 million compared to last year. Such data are provided in the reporting of the Bulgarian GTS operator.

The revenues of Bulgartransgaz increased almost one and a half times after Gazprom transferred gas supplies to Turkey and the Balkans from the Trans-Balkan gas pipeline through Ukraine to the Turkish Stream. If in the first half of 2020 and 2021 the Russian company paid the Bulgarian operator $ 84.8 million and $ 94.5 million, then in 2018 and 2019 – $ 59.8 million and $ 61 million.

The transit of Russian gas through Bulgaria after the launch of the Turkish Stream on average decreased, as Turkey receives fuel through a separate line of the gas pipeline directly. If in the first half of the year, for example, 2018, the volume of transportation amounted to 7.57 billion cubic meters, then in 2020 – 4.18 billion.

The difference in income is related to something else. Gazprom continues to have obligations under the contract for direct gas transit through the Trans-Balkan gas pipeline. Bulgartransgaz’s data says that, for example, at the Negru-Voda 2,3 / Kardam point on the border of Bulgaria and Romania until 2030, a capacity of 21 billion cubic meters per year has been booked. They are, obviously, “Gazprom” and pays on the condition “download or pay.”

Recall that the Turkish Stream was launched in early 2020 and Bulgaria, North Macedonia and Greece immediately began to receive Russian gas via the European pipeline. Since the beginning of this year, when the extension in Bulgaria was completed, Serbia switched to the southern route. Romania joined Turkish Stream in April. In October – Hungary. In the middle of autumn, the loading of the European line of the gas pipeline exceeded 90%.

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