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US investors explore possible participation in Bulgaria's Chiren gas storage facility

Photo: bulgartransgaz.bg

US investors are in Sofia this week for talks with Bulgarian authorities on the expansion of the Chiren gas storage facility in northwestern Bulgaria - a project that could become a new battleground between supporters and opponents of Russian natural gas in Europe, REUTERS reports. The agency also reports on an unsuccessful attempt by Bulgarian authorities this spring to sell Americans a share of the extension of the Turkish Stream gas pipeline through Bulgarian territory.

Among the possible investors are Steven Lynch from Florida and Faye Wang. They have sought contact with Bulgarian authorities to participate in the 285 million euro project to double the capacity of Chiren. 

The hub could play an important role in the future when Greece, Serbia, Hungary and other countries in the region hesitate whether to continue relying on Russian gas supplies or increase imports from other countries, the agency notes, recalling that the last operating gas pipeline from Russia to Europe passes through Bulgaria.

Increasing capacity at Chiren will be of interest to both supporters and opponents of Russian gas. But the project was suspended in 2024 due to an investigation by the European Public Prosecutor's Office into the misuse of EU funds, REUTERS recalls.


English publication: R. Petkova

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