Bulgaria, Greece Sign LNG Agreement On Storage

The Greek government approved an agreement that will give Greece access to Bulgarian storage sites, and in return give Bulgaria access to Greek LNG facilities, national news agency BTA said.

• Greek suppliers will be able to reserve space at Bulgaria's Chiren storage facility for a maximum total storage volume of 0.7TWh. Chiren's total working capacity is 5.8TWh.
• Slots and storage capacity as well as corresponding regasification capacity from terminals in Greece can be reserved by Bulgarian suppliers. They will use LNG for direct supply to consumers in Bulgaria for a maximum total annual regasification capacity of 2TWh. Bulgaria has already reserved 1bn m³/yr of capacity at Greece's Alexandroupolis terminal, due to be commissioned in late 2023.
• Under EU law, any country that does not have gas storage facilities of its own must hold a strategic reserve equal to at least 15pc of its annual consumption in another EU country.
• The agreement will last for one year and will enter force once ratifies by the Bulgarian Parliament.