Terminating the Botas contract would cost over €2 billion, says Energy Minister says Stankov

By the end of the year, Bulgargaz will have to pay an additional €10 million under the contract with Botas due to indexation. This information was reported by BGNES and confirmed by Energy Minister Zhecho Stankov.

During the caretaker government of Galab Donev, appointed by President Rumen Radev, Bulgaria signed a €2 billion, 13-year contract with the Turkish company to receive LNG through Turkish terminals. The document obliges Bulgaria to pay €500,000 per day, even if the full capacity is not utilised.

Mr Stankov said that the government's attempts to renegotiate the terms of the contract with Botas are ongoing, but have not yet yielded any results. 'This contract is generating expenses for a service we are not using,' he said, adding that 'we do not need it today or for the next 13 years.' He added that the document does not contain a termination clause unless the full amount, which exceeds two billion euros, is paid.