On March 4, the Bulgarian Ministry of Energy stated that Azerbaijan covers nearly 40% of Bulgaria’s natural gas demand through a 25-year agreement. The ministry noted that the long-term deal ensures predictability in supplies, dependable delivery, and pricing conditions considered among the most competitive in Europe.

According to the ministry, Azerbaijani gas also plays a stabilizing role during periods of market volatility. Supplies continue without interruption, while the contract’s pricing framework helps shield the market from sudden price spikes. The ministry emphasized that this arrangement reduces pressure on both businesses and households, strengthens the country’s economic resilience, and helps maintain the competitiveness of Bulgarian industry.

The ministry also recalled that Traycho Traykov, the Bulgarian Minister of Energy, participated in the meetings of the Southern Gas Corridor Advisory Council and the Green Energy Advisory Council held in Baku on March 3.

Traykov stressed that Bulgaria’s long-term agreement with Azerbaijan remains the primary stabilizing factor in the national gas market as global prices rise due to tensions in the Middle East. During an extraordinary session of the Council of Ministers convened over the crisis in the Persian Gulf, he briefed Prime Minister Andrey Gyurov, noting that the country possesses a limited but tangible buffer against market shocks.

He explained that although spot markets react sharply to developments in the region, Bulgaria continues to receive gas under pre-existing contractual conditions established before the crisis. "The main source of stability is the long-term gas contract with Azerbaijan. Current supplies are the result of active diversification efforts — this is the path to ensuring supply stability and protecting consumers from sudden price shocks. We continue to monitor developments in international markets and, together with state energy companies, are taking measures to maintain the sector’s security and competitiveness and protect consumers," Traykov stated.

Addressing liquefied natural gas imports, the minister emphasized that Bulgaria had secured LNG volumes at prices negotiated before the escalation of tensions in the Middle East. "The deal was concluded at prices significantly below current market levels and creates conditions for predictability in the domestic market amid the sharp rise in international natural gas and oil prices," he added.

Traykov also noted that the unloading process of the second LNG cargo for 2026 for the state-owned company Bulgargaz is nearing completion at the Alexandroupolis terminal. The tanker transporting approximately 100 million cubic meters of gas to Bulgaria was loaded at the Sabine Pass terminal operated by the US company Cheniere Energy, while Shell served as the supplier. "The volumes currently being unloaded will cover Bulgargaz customers’ needs for the current month," he stated.