Bulgaria Secures LNG at Pre-Crisis Prices Amid Middle East Turmoil

Energy Minister Traycho Traykov briefed Prime Minister Andrey Gyurov that Bulgaria has received liquefied natural gas under contracts concluded before the recent escalation in the Middle East. The agreed prices are considerably lower than current market quotations, providing greater predictability for the domestic energy market at a time when global gas and oil prices are climbing sharply.

At the LNG terminal near Alexandroupolis, unloading is nearing completion of a second cargo designated for Bulgargaz for 2026. The tanker carries 100 million cubic meters of gas intended for Bulgaria. The shipment was loaded at the Sabine Pass LNG Terminal in the United States, owned by Cheniere Energy, with Shell acting as supplier. The volumes now being discharged are expected to meet the needs of Bulgargaz clients for the present month.

Since June 2022, Bulgargaz has arranged 22 direct LNG deliveries through terminals in Greece and Turkey. Seventeen of these consignments originated from the United States, while the remainder came from Norway and Algeria.

During the extraordinary Council of Ministers meeting convened in response to the Gulf crisis, Minister Traykov underlined that Bulgaria maintains a limited but tangible safeguard against market turbulence. While spot markets are reacting sharply to developments in the region, current domestic supplies are arriving under previously negotiated terms, reflecting pre-crisis price levels. A key element of stability remains the long-term natural gas agreement with Azerbaijan.

According to Traykov, the present delivery demonstrates the effectiveness of diversification efforts aimed at ensuring secure supply and shielding consumers from abrupt price increases. He added that the government continues to follow international market trends closely and, in coordination with state-owned energy companies, is implementing measures to preserve supply security and maintain the competitiveness of both the sector and end users.