Bulgaria is studying the impact and plans to rapidly restrict imports of Russian crude oil and petroleum products. This action is designed to take place before the end of the EU derogation for the purchase of Moscow oil next year.
Analysis of effects and anticipated steps
The Government Security Council has analyzed the possible effects of an early end to the derogation. This derogation concerns imports of Russian oil and petroleum products for refining at Lukoil. The findings were reported in a statement published on August 21.
“Decisions on the analyses presented will be taken at the next Security Council meeting and will be proposed to the government,” he adds.
Change of dynamic for Lukoi and diversification of supplies
Lukoil benefited from access to cheap Russian crude transported to Bulgaria by tanker via the Black Sea. However, at the end of July, political parties supporting the government submitted a proposal for an early termination. This follows the Bulgarian parliament’s vote to terminate Lukoil’s concession to manage the Rosenets oil terminal near Burgas. In February, Bulgaria announced that it would start working with non-Russian oil sources in March to reduce its dependence on Lukoil refining and import infrastructure.
Burgas-Alexandroupolis pipeline perspective
The government argues that the construction of the long-planned Burgas-Alexandroupolis pipeline has the potential to provide alternative sources of crude oil supply. This would enhance the refinery’s energy security. Furthermore, the reactivation of this pipeline project would pave the way for the transport of crude oil between the Aegean and Black Seas. This solution would bypass the Turkish straits, offering a strategic alternative.
