Bulgaria’s Energy Minister Zhecho Stankov confirmed that a government-adopted screening mechanism ensures companies from Russia and Belarus cannot acquire strategic assets in the country or elsewhere in the EU. The statement came amid reports suggesting a potential sale of the Lukoil-Neftokhim refinery in Burgas to the Azerbaijani company SOCAR.
Stankov emphasized that the Bulgarian state maintains a “golden share” in the Burgas refinery, granting it the right to appoint a member to the Supervisory Board. He clarified that, according to the Supervisory Board, no official discussions have taken place regarding the sale of the refinery. However, he acknowledged that the parent company could theoretically attempt to sell the subsidiary without prior notification, although the Ministry of Energy currently has no information on any such moves.
Speaking to members of the parliamentary Energy Committee, Stankov stressed that all necessary measures have been implemented to safeguard Bulgaria’s national interests. The Burgas refinery is considered a strategic asset crucial for securing the country’s fuel supply. The screening mechanism, overseen by Deputy Prime Minister Tomislav Donchev and including deputy energy ministers, allows the state to review and block any sale of strategic facilities to non-European buyers. Stankov insisted this mechanism fully guarantees that Russian or Belarusian companies cannot take ownership of such facilities in Bulgaria or elsewhere in the EU.
Regarding SOCAR, Stankov noted that Bulgaria has maintained long-standing positive relations with the company. SOCAR currently supplies about one-third of the country’s natural gas, adhering strictly to its contractual obligations, which underlines its reliability as a potential investor.