Overgas Inc. and Linden Energy Ltd: a Gas Security Partnership

US-based energy company Linden Energy initiated the deal for the acquisition of 50% of Overgas Inc., a trading company, part of the Overgas Group, by submitting an official concentration notification to the Commission for Protection of Competition.

A year ago, during the Three Seas Business Forum, Bulgaria’s Overgas Inc. and the US-based Linden Energy Ltd signed a preliminary agreement and announced the first US investment in our gas industry. The US company actively supports Overgas in the efforts to diversify the market in Bulgaria with the addition of new sources of natural gas, including US LNG, which is so valuable after the suspension of supplies from Russia.

The rapid diversification of natural gas supply sources is of primary importance for securing energy supplies and the country’s economy in conditions of energy insecurity. This will be a major goal on which the two companies will collaborate.

Overgas is actively working to diversify the gas market and find a solution for alternative supplies. Two months ago, the Company also signed a Memorandum with the Albanian company Albgaz for natural gas supply diversity in the Balkans.