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Turkey will claim larger share of Balkan gas markets

Content type:: Expert Briefings
Location:: BULGARIA/TURKEY/BALKANS
Keywords associated with this article:: Geographic: Turkey EUR Azerbaijan EU Hungary Romania Serbia Ukraine Bulgaria Balkans Russia BULGARIA/TURKEY/BALKANS

Topical: economy international relations politics energy foreign policy foreign trade gas talks government infrastructure integration regulation industry corporate prices
ISSN:: 2633-304X
Citation:: Oxford Analytica (2023), "Turkey will claim larger share of Balkan gas markets", Expert Briefings.
https://doi.org/10.1108/OXAN-DB281972

Friday, September 15, 2023

Significance

Turkish state-owned utility BOTAS has a supply contract with Bulgargaz which also includes access to the Bulgarian grid. It is in position to resell Russian gas to customers in both Bulgaria and other Balkan countries.

Impacts

In the short term, the BOTAS contract will drive down prices on the Bulgarian market.
Bulgaria is at risk of paying up to EUR2bn (USD2.13bn) in damages to BOTAS if it fails to honour its contractual obligations.
Like BOTAS, Azerbaijan’s SOCAR will seek to expand its presence in south-eastern Europe.

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Significance

Impacts

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