The Bulgarian Commission for Energy and Water Regulation (KEVR) said that Shell Energy Europe, a trading subsidiary of UK-based giant, has applied to receive a natural gas trading license in Bulgaria.
Shell Energy Europe applied for the license in early March and is planning to invest the proceeds of its operations in Bulgaria to establish a footprint in the country and expand in the local market.
Besides Shell, another two companies have also applied for natural gas trading licenses: local Factor Energy Bulgaria and Cyprus-registered Ozbor Enterprises. All three companies have applied for the issuance of a 10-year gas trading license.
Following the natural gas supply halt by Russia in late April, Bulgaria has successfully switch to alternative gas supply sources, mostly gas from Azerbaijan (the supply is expected to increase following the launch of gas interconnection with Greece) and liquefied natural gas (LNG), sourced from the United States and received via terminals located in Greece and Turkey.
