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Iran’s foreign minister says territory and has an estimated price of of understanding on establishing a
joint venture company with the aim of
540,000 levs ($312,300/276,100 euro), VAT
gas flows to Turkey will excluded, Bulgartransgaz said in a statement developing greenfield investment projects in
the country, Romgaz said.
on June 15.
resume by end of June 3. The deadline for submitting offers is July an electricity generation unit fuelled by
The two companies aim to develop
Iranian gas exports to Turkey will resume The second tender envisages provision of natural gas (CCGT) and power generation
by the end of June, Iranian foreign minister project consultant services and construction units based on wind and photovoltaic
Mohammad Javad Zarif said on June 15 at a supervision for an estimated price of technologies, Romgaz said in a filing with
press conference in Istanbul held jointly with 320,000 levs, VAT excluded. the Bucharest Stock Exchange (BVB) on
his Turkish counterpart Mevlut Cavusoglu. Candidates have until July 17 to file their June 11.
Zarif said that he had received assurances bids in the public procurement procedure.
that repairs to the pipeline—closed since The ranking of the participants in both The investment projects will be financed
March 31 after an explosion said by Turkish procurement procedures will be made from own capital as well as from external
officials to be the result of a sabotage attack on the basis of the most economically sources through the joint venture company
by the Kurdistan Workers’ Party (PKK)— advantageous offer, expressed as the seeking to attract EU funds under the Green
would be finished and that gas flows would optimal quality/price ratio, according to Deal founding mechanism and/or the
be reinstated. Cavusoglu did not comment objective indicators such as the period available financing schemes in Romania.
on the pipeline. of impementation and price parameters, “It is an important investment at national
The PKK has attacked the pipeline Bulgartrnasgaz noted. level and represents a first step towards
several previous occasions, with subsequent The interconnector between Bulgaria and putting Romania on the EU map of green
repairs then completed within a few days. Serbia, which is expected to be completed steel production. Such investments lead
The failure to repair the pipeline promptly in May 2022, is of key importance for the to the horizontal development of many
on this occasion has sparked speculation implementation of the concept for the economic sectors and, implicitly, motivation
that Turkey is stalling repairs to pressure establishment of a gas distribution centre for Romgaz to increase its exploration-
Iran to improve terms under which Turkey in Bulgaria and it is one of the priority production programmes,” Romgaz CEO
imports gas. State gas importer Botas, projects of the High Level Group on Energy Adrian Volintiru said.
meanwhile, has been importing cheap Connectivity in Central and South-East The implementation period of such
spot LNG cargoes in place of Iranian and Europe (CESEC), the company said. investment projects will last between three
Russian gas. “The Interconnection Bulgaria-Serbia has and a half years to 4 years.
Turkey’s deputy energy minister been declared a project of common interest “Based on the agreement signed with
Alparslan Bayraktar told a conference in for the European Union. Its implementation Romgaz today we will be able to deliver
Istanbul in February that Turkey planned is part of the government’s management competitive energy on a long-term basis
to use the availability of cheap spot LNG programme in the energy sector, aimed at required to sustain such a fascinating
to persuade its long-term gas suppliers ensuring energy security and diversification project of low-emission steel production
to lower their prices, S&P Global Platts of sources and routes of natural gas supply,” in Galati. I am very confident that the
reported. Bulgartrnasgaz explained. project will succeed and put Galati on the
Ten days ago Iran’s NIGC said Tehran Earlier this month, Bulgartransgaz said map, not only in Europe but also at global
rejected Ankara’s claim that the explosion that it is seeking a bank credit of up to 400 level, as a low-emission steel production
was a force majeure event. The company million euro ($453 million) in order to unit, sustainable, for a new era built for the
said it expected gas flow to be restarted on cover its operating and investment costs generations to come,” Gupta Family Group
June 21 at the earliest. related to key projects in progress such as Alliance (GFG Alliance) executive chairman
Turkey imports gas from Iran under an the construction of the Bulgarian section Sanjeev Gupta said.
agreement signed in 1996 for up to 10 bcm/ of TurkStream pipeline dubbed Balkan Part of the GFG Alliance, Liberty House
year until July 2026. It commenced in 2001 Stream, the interconnection Bulgaria- Group completed the purchase of the steel
and was later reduced to 9.6 bcm/year. Serbia and the expansion of capacity of mill in Romania’s Galati from Luxembourg-
Chiren underground gas storage facility. based multinational steel manufacturing
The company has already published an corporation ArcelorMittal in July.
Bulgartransgaz opens tenders invitation to tender for a bank loan with business, registered in Singapore with
Liberty House Group is an international
a repayment term of six years and interest
for Serbian gas link lower than 3.9%. headquarters in London, active in
commodities, metals recycling, and the
State-owned gas transmission system manufacture of steel, aluminium, and
operator Bulgartransgaz has launched Romgaz, Liberty Galati agree engineering products. It employs over
the first two tenders related to the 19,000 worldwide.
implementation of the project for on joint investments The majority shareholder of Romgaz is
construction of a gas link between Bulgaria the Romanian state with a 70% stake, with
and Serbia. Romania’s natural gas producer Romgaz the balance of 30% in free float on the BVB.
The first tender is for technical design [BSE:SNG] and steel plant Liberty through the Acorn CCS infrastructure.
of the gas interconnection on Bulgarian Galati have signed a memorandum

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