Bulgaria greenlights license for SOCAR’s gas trading

Bulgarian Energy and Water Regulatory Commission has issued a license to Azerbaijan’s state oil company SOCAR for gas trading, Trend reports with reference to Bulgarian media.

Reportedly, the license will be valid throughout 10 years.

Chairperson of Bulgarian Energy and Water Regulatory Commission earlier said that there is no reason why SOCAR wouldn’t get that license. He pointed out that this cooperation will strengthen Bulgaria’s position as a hub for natural gas supplies to other countries in its region.

SOCAR has a long-term contract with Bulgargas for supplying 1 billion cubic meters of gas per year from Azerbaijan to Bulgaria.

On April 25 SOCAR opened its office in Bulgaria.

Source: Trend News Agency