Bulgarian Energy Holding
Energy Leader Positioning Bulgaria as Natural-Gas Hub
Bulgarian Energy Holding (BEH) established in 2008 during energy-sector privatization, aims on positioning Bulgaria as South-Eastern European natural-gas hub while ensuring reliable energy supply for its domestic market.
BEH would welcome U.S. investments in reaching its ambitious goals. Mihail Andonov, Executive Director, says, “We would be involved in building Nabucco and South Stream pipelines that will transport gas from Azerbaijan and Russia through Bulgaria and then on to European markets. If Europe – especially Austria and Germany – want to diversify their natural-gas supply channels, they should help promote these pipelines. We would encourage American investors to participate in our high-potential projects.”
Bulgaria is in healthy competition within the region focused on building new pipelines, which will deliver gas from Caucasus to the European markets. In its efforts Bulgaria has a competitive edge. Mr. Andonov explains, “If our interconnector with Turkey would be built, we will be able to deliver gas from Azerbaijan within the next 2 years. The Nabucco pipeline in Turkey will have greater capacity than our interconnector, but Nabucco’s maximum capacity will be reached in 2023.” In addition to its pipeline projects, BEH is currently focusing on diversifying its sources of natural gas, which will lower consumers’ prices while reducing country’s dependence on Russian supply.