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. Last Updated: 07/27/2016

Bulgaria Initials Agreement for Azeri Gas

SOFIA, Bulgaria — Azerbaijan and Bulgaria signed a memorandum of understanding Friday to export Azeri gas to the Balkan country, which aims to reduce its dependence on Russian gas.

Under the deal, Sofia and Baku will also study the option of bringing compressed Azeri gas by tankers to Black Sea ports, Bulgarian Economy and Energy Minister Traicho Traikov said after the signing ceremony. He said Bulgaria might receive 1 billion cubic meters of Azeri gas per year but did not give a time frame. Bulgaria does not have tankers and still needs to build a pipeline link to neighboring Greece to receive Azeri gas through the ITGI pipeline between Turkey, Greece and Italy.

“Azerbaijan has large supplies of gas … and wants to export the gas through better, secure routes,” Azeri President Ilham Aliyev said. “We are looking for more partners and we hope Bulgaria will help us.”