Bulgaria and Azerbaijan Finalise Gas Deal

Bulgarian President Georgi Parvanov has met with Azerbaijani President Ilham Aliyev today as part of a visit to finalise a natural gas agreement between the two countries.

Azerbaijan is set to supply Bulgaria with 1 billion cubic metres of gas, President Parvanov said on Sunday.

"One billion cubic metres of natural gas will be delivered to Bulgaria," ITAR-TASS quotes the president as saying. "This is a resource that we can use in our economy or resell to other markets."

President Aliyev said that the meeting strengthened current relations with Bulgaria, with energy a priority for both sides.

"Of course, energy is an area that plays a huge role in our relations and companies are holding talks," he told the Bulgarian president. "We see successful development in all spheres and I am sure that this positive dynamic will be continued after your visit."

The one billion cubic metres of gas will be transported to Bulgaria once the Bulgaria-Greece gas interconnection is completed in 2014.

This gas deal is in addition to Bulgaria's involvement as a transit country in the Nabucco gas pipeline.