Integrated LNG logistics plan for the 2026/27 gas year
Bulgargaz plans to move into regional LNG logistics from the 2026/27 gas year, expanding its role as a Bulgarian state gas supplier. The company intends to provide integrated services covering terminal handling, regasification, storage and cross-border delivery. The approach is designed to enable customers to use Bulgargaz as a logistics provider without necessarily buying LNG from the company.
Under the proposed model, a trader or industrial buyer that arranges its own LNG cargo could transfer responsibility for the downstream chain to Bulgargaz after the vessel reaches the terminal. Bulgargaz would then manage reception, regasification and storage before delivering an equivalent quantity of natural gas to a previously agreed point. Customers seeking a wider scope could instead request that Bulgargaz handle both LNG procurement and physical delivery.
Infrastructure access and delivery product structuring
The structure combines infrastructure access that would otherwise require separate contracting for different parts of the chain. Bulgargaz has secured capacity at LNG terminals and has access to storage facilities and cross-border transmission infrastructure. The company plans to use these positions to structure delivery products based on customer volumes, delivery periods and destinations.
Potential customers are being asked to provide estimates of annual demand, preferred delivery windows, receiving points and any additional services required. Commercial arrangements would then be negotiated bilaterally between Bulgargaz and each customer.
Shift in commercial model amid changes in southeast European gas markets
The initiative represents a change in Bulgargaz’s commercial model compared with how infrastructure capacity has historically been valued. Previously, the value of capacity was primarily linked with ensuring supply for the Bulgarian market. Under the new approach, access to terminals, storage and pipelines is positioned as a service that can be sold to regional customers.
The plan also reflects developments in the southeast European gas market structure. Access to LNG has expanded, but buyers still need to assemble a chain connecting cargo procurement with terminal slots, storage, transmission capacity, balancing and final delivery. Bulgargaz is positioning itself to manage that chain.
The commercial test will be whether Bulgargaz can combine its infrastructure positions into delivered-gas offers that are competitive with traders and other portfolio suppliers operating across the region. If successful, the model would shift Bulgargaz further away from a predominantly domestic incumbent role toward that of a regional gas and LNG logistics company.
