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US-based Linden Energy to acquire 50% interest in Bulgaria´s Overgas

Established in 1992, Overgas is the biggest Bulgarian private company in the natural gas sector and a leader in developing and providing infrastructure services in the field of gasification

US-based Linden Energy to acquire 50% interest in Bulgaria´s Overgas

Sofia, July 12- Neftegaz.RU. For undisclosed terms, Linden Energy said it signed an agreement to take a 50% interest in Bulgarian gas trader Overgas, the largest privately-owned gas company in the country, with an eye on advancing US LNG interests overseas.

Stephen Payne, President of Linden Energy, said:
  • I believe that Overgas is the perfect partner to expand from a leader in the Bulgarian gas market to a leader across the Balkan region
  • In addition to our investment, Linden will take an active role in supporting Overgas' efforts to diversify the energy market in Bulgaria by adding other sources of natural gas, one possibility being U.S. LNG
Bulgaria is no stranger to Linden Energy, as the company took part in the tender to reserve capacities from the gas connection between Bulgaria and Greece.
At the signing, Payne said they would look into the possibility of building gas interconnections between Albania and North Macedonia and Albania and Kosovo.

Overgas said in a statement that a future representative of the new company was present at the signing.
This is Matthew Bryza, a former US ambassador to Azerbaijan.

The interest in Overgas that Linden is acquiring was once held by Gazprom, but was repurchased by Overgas in December 2020 as part of a settlement deal.

Source : Neftegaz.RU


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