Natural Gas Europe: Bulgaria will not lose in the gambling negotiations with Gazprom

“The deal with Gazprom is essentially a gamble which Bulgaria cannot lose,” Alex Jackson, a British analyst of political, energy and security issues, commented in a publication for Natural Gas Europe.

The old ‘South Stream vs Nabucco’ battle to bring gas through the Southern Corridor to Europe is over, with the grand unified Nabucco replaced by the Trans-Anatolian Pipeline across Turkey and then either Nabucco West into Central Europe or the Trans-Adriatic Pipeline (TAP) into Italy, wrote the specialised publication, cited by BGNES.

According to some analysts, the South Stream deal is a masterstroke for Bulgaria, although the question remains whether Bulgaria will remain closely linked with Russia.

Events are dynamic and Russia and Azerbaijan are in a race for the supply of gas to Europe.

The British energy expert pointed out that the new deal with Gazprom has ensured Bulgaria a 20% reduction in pricing, more than the 11.1% the Bulgarians had already held out for. “Bulgaria currently relies on Gazprom for about 90% of its gas demand, so this has given Sofia a bit of flexibility,” wrote Natural Gas Europe.

Borissov has been outspoken in his belief that South Stream has better prospects than Nabucco. He said that, although Nabucco remains Sofia’s top priority, it is too expensive and “still, we don’t know the source of gas for the pipeline”.

“Like any good gambler, PM Borissov knows that a bet is often the best choice,” said the analyst in the publication.

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