US investors are showing interest in expanding Bulgaria's Chiren underground gas storage facility, which is a key facility for storing and transiting Russian gas to Eastern Europe, Reuters reported on Monday, citing sources.
The Chiren underground gas storage facility is filled mainly with Russian gas, and the last operating branch of the TurkStream gas pipeline passes through Bulgaria, the agency notes. The expansion of the storage facility could play a crucial role for Eastern European countries deciding whether to continue buying gas from Russia after 2027, when the EU plans to abandon it.
According to the agency, negotiations are led by a group led by financier Stephen Lynch. He previously tried to restore the Nord Stream 2 gas pipeline.