US LNG supplier Cheniere and France’s TotalEnergies are set to boost Bulgarian gas volumes in April after winning supply contracts, according to a document released by Bulgarian energy regulator EWRC on 29 March.
After organising a tender procedure for the whole of 2023, Bulgarian state supplier Bulgargaz concluded two contracts for the supply of liquefied natural gas (LNG) with traders for April, added EWRC.
The contracts were concluded after a tender procedure with requirements for a minimum delivery price and a proposed method of payment.
Cheniere secured two cargoes for April delivery via Greece’s Revithoussa terminal on 15 and 26 April. These were for 73,855cbm (500,000MWh) and 147,710cbm (1,000,000MWh) volumes respectively.
TotalEnergies also secured a 500,000MWh volume to be delivered to a Turkish LNG terminal. The delivery date is yet to be announced.
On 23 February, Bulgargaz launched its first ever tender via a Turkish terminal for the April delivery of 47 million cubic meters (mcm) of gas.
Bulgargaz booked three LNG unloading slots for 2023 at the Revithoussa terminal – two slots for 147,710cbm and one for 73,855cbm – Greek gas operator DESFA said on 1 February.
Bulgarian gas supplies are guaranteed until the end of the year, all contracts have been signed, and volumes for injection in the underground storage facility in Chiren have been secured,” Bulgargaz’s executive director Denitsa Zlateva said in a statement on 29 March.
“Daily requests vary between 40,000/MWh and 85,000/MWh, depending on the season and consumption. By guaranteeing and providing the gas, in its capacity as a public supplier, the company cannot risk buying natural gas on a daily basis on exchanges with a Day Ahead price index or in the Intra-Day,” Zlateva added.
LNG OPTIONS
Last year, Bulgargaz and Cheniere worked on an LNG supply deal after Russian gas supply to Bulgaria was cut in April 2022. Last October, the US company delivered one cargo (approximately 1,050,000MWh volume) to boost Bulgarian winter supply.
Last September, Bulgargaz also issued a tender for the purchase of LNG for 2024-2034, to be delivered into either the Greek Revithoussa terminal or Turkish LNG terminals.
