tibiel

TIBIEL a Strong Player in the National and Regional Natural Gas Segment

The amount of natural gas consumed in Bulgaria in 2019 was 30 465 GWh, a 3,79% reduction from the amount consumed in 2018. (31 663 GWh).

According to information from the National Statistical Institute’s global energy balance sheet for 2018, natural gas accounted for 13.8% of primary energy consumption and 14.7% of total fuel and energy consumption.

Given the evolving gasification and the significance of natural gas as a fuel of transition towards a low-carbon economy, the contribution of natural gas in the country’s energy balance continues to be lower than the average for the EU countries, but has the potential for large and sustained increase.

Businesses in the “Energy” and “Chemistry” sectors, as well as the owners of gas transmission networks acting as end providers, continue to be the largest users of natural gas.

While the nation now has five entry ports, TIBIEL is leading a number of projects intending to expand the level of liberalization, liquidity, and diversity of the national gas market are currently in various phases of execution.

To liberalize the natural gas market in Bulgaria in accordance with the top priorities outlined in the country’s energy strategy through 2020, it is imperative that an organized natural gas market (exchange) be established.

Bulgartransgaz EAD formed a subsidiary called Balkan Gas Hub EAD, which runs the natural gas trading platform in Bulgaria, to ensure the essential market conditions.

The conditions for maintaining a competitive, transparent, and non-discriminatory trade and gradually getting rid of the natural gas price cap are improved by the presence of a well-organized natural gas market.

The creation of a natural gas exchange market in Bulgaria helps to diversify the sources of natural gas, fully liberalize the market, and create genuine competition in the industry.

For Bulgaria and the broader area, supply security and competitive pricing will be improved, boosting the economy’s ability to compete.

In addition, with the implementation of the planned new projects, Bulgaria has the potential to become a regional gas distribution hub, providing diversification of the sources and routes of natural gas supply for the region. The country also boasts a strategic geographic location and a well-developed gas infrastructure.

Lastly, TIBIEL is currently seeing a major expansion in the segment of natural gas in Bulgaria, the region and in EU. As part of these efforts, TIBIEL is set to be part of the annual Gastech Exhibition & Conference that is set to take place in Milano, Italy starting from the 5th through the 8th of September 2022.