From Bulgaria Bookmark and Share

09.10.2018 11:21
The price of natural gas will also be able to take into account the European exchanges
Because of the debts of the local heating companies, consumers in Pleven, Bourgas and Vratsa can stay without heating at the beginning of the heating season

  • ©

Bulgargaz will now be able to choose whether the gas prices for natural gas delivered by Gazprom Export will be based on the current formula or will be in line with the prices of the European gas exchanges, said in an interview with Horizon the CEO of Bulgargas Nikolay Pavlov.
In addition to the arrangement, it will be possible to combine the two pricing options within one delivery. Thus, the cost of a portion of the quantities will be formulated according to oil price and its derivatives, and the other quantities will be paid in relation to gas prices in the hubs.
These options are recorded as a supplement to the existing gas supply contract and signed during last week's talks between Bulgargaz and Gazprom Export. The agreement comes as a result of the European Commission's anti-monopoly case, on which the Russian gas giant has agreed to renegotiate the terms of the fuel supply contracts. The price of the gas can be reviewed every two years, Nikolay Pavlov pointed out.
"Whether it will be the current formula or a formula that will priced at hub prices is already a matter of analysis. It is no secret that in recent years the price for Bulgaria is by no means higher in compared to those in Western Europe, and as a confirmation of this comes the fact that to date there has not been a bid in Bulgargaz for delivery of natural gas at a price lower than the current one, "he commented.
Two new points of delivery have also been agreed, Nikolay Pavlov said.
Users in Pleven, Bourgas and Vratsa may be left without heating at the beginning of the heating season. The three companies owe a total of 15 million leva to Bulgargaz and have not paid their fuel since July. If they do not pay, gas may have to be suspended or their contracts terminated, Nikolay Pavlov said.
"Reminders have been sent. They have until 19 October to pay for their July, August and September obligations. They are aware of the problem and at the moment I suppose they are looking for a solution. I do not believe it will reach the point of stopping deliveries if it is technically possible ... Take legal action with all precautionary measures and, finally, terminate the contract. "
Pavlov added that from the New Year, if there is an increase in gas prices, it will be minimal and will be below 5 percent.

TAGS: natural gas | price | bulgargaz | gazprom | export | european commission 

All news from Bulgaria

No published comments
Login to comment


20.03.2022  Teodor Bobochikov, Managing Partner, V-Ridium
Energy Transformation – Trends and drivers
Full text


No records in this category!


What kind of transport do you use to get to work?


We use cookies to ensure we give you the best browsing experience on our website. Find out more on how we use cookies and how you can change your settings.


What are cookies ?

A cookie is a small text file that a website saves on your computer or mobile device when you visit the site. Cookies are widely used in order to make websites work, or work more efficiently, as well as to provide information to the owners of the site.

How do we use cookies?

Website use Google Analytics, a web analytics service provided by Google, Inc. ("Google") to help analyse the use of this website. For this purpose, Google Analytics uses"cookies", which are text files placed on your computer.

The information generated by the cookies about your use of this website - standard internet log information (including your IP address) and visitor behaviour information in an anonymous form - will be transmitted to and stored by Google including on servers in the United States. Google will anonymize the information sent by removing the last octet of your IP address prior to its storage.

According to Google Analytics terms of service, Google will use this information for the purpose of evaluating your use of the website and compiling reports on website activity.

We not use, and not allow any third party to use the statistical analytics tool to track or to collect any personally identifiable information of visitors to this site. Google may transfer the information collected by Google Analytics to third parties where required to do so by law, or where such third parties process the information on Google`s behalf.

According to Google Analytics terms of service, Google will not associate your IP address with any other data held by Google.

You may refuse the use of Google Analytics cookies by downloading and installing Google Analytics Opt-out Browser Add-on. The add-on communicates with the Google Analytics JavaScript (ga.js) to indicate that information about the website visit should not be sent to Google Analytics.

Cookies are also used to record if you have agreed (or not) to our use of cookies on this site, so that you are not asked the question every time you visit the site.

Google Analytics Opt-out Browser Add-on

How to control cookies?

You can control and/or delete cookies as you wish. You can delete all cookies that are already on your computer and you can set most browsers to prevent them from being placed.

All about cookies

Managing cookies in your browser

Most browsers allow you to:
  • see what cookies you have got and delete them on an individual basis
  • block third party cookies
  • block cookies from particular sites
  • block all cookies from being set
  • delete all cookies when you close your browser

If you chose to delete cookies, you should be aware that any preferences will be lost. Also, if you block cookies completely many websites (including ours) will not work properly and webcasts will not work at all. For these reasons, we do not recommend turning cookies off when using our webcasting services.