A major crisis in Bulgaria: They will give all their earnings to Turkey for 200 years.

05.09.2025 18:14

The 13-year natural gas purchase agreement signed between BOTAŞ and Bulgargaz in 2023 has turned into a major crisis for the neighbor. After Bulgargaz was unable to pay its debt exceeding 4 billion TL, BOTAŞ completely halted the gas flow. Bulgarian Energy Minister Jeco Stankov stated, "Bulgargaz has transferred the profits it will earn over the next 200 years to the Turkish side."

The long-term energy agreement signed in 2023 between Bulgaria's public natural gas company Bulgargaz and the Pipeline Transportation of Oil Joint Stock Company (BOTAŞ) has created a crisis in the neighboring country.

UNABLE TO MAKE PAYMENTS

Under the agreement covering 13 years, Bulgargaz committed to purchasing 1.5 billion cubic meters of natural gas from Turkey each year. However, the company's inability to make payments just 1.5 years after the contract came into effect has raised serious concerns about energy supply security in Bulgaria.

BOTAŞ COMPLETELY CUT OFF GAS FLOW

After Bulgargaz halted payments for the natural gas received from Turkey, BOTAŞ completely cut off the gas flow to the company. It was learned that the Bulgarian side has a debt of over 4 billion TL. It has been stated that Bulgargaz, which is said to be in an economic bottleneck, is obliged to pay the amount for the purchase it committed to even if it withdraws from the contract, leading the government to intervene.

ENERGY MINISTER'S STRONG REACTION: 200 YEARS OF PROFIT TRANSFERRED TO THE TURKISH SIDE

Following the developments, Bulgarian Energy Minister Jeco Stankov held a press conference where he harshly criticized the agreement. Speaking to reporters after the Cabinet meeting, Stankov stated, "This contract has put our state company and our country in a disadvantageous position. Bulgargaz has transferred the profit it will earn over the next 200 years to the Turkish side."

SEARCH FOR NEW NEGOTIATIONS WITH TURKEY

Stankov emphasized that there is no termination clause in the agreement and that it poses a heavy burden on the country's economy under the current conditions. The Minister also announced that a new negotiation process with Turkey will begin in the coming days.