RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2020-03-04 09:30:00

RUSSIA, BULGARIA GAS PRICE DOWN 40%

RUSSIA, BULGARIA GAS PRICE DOWN 40%

DS - Bulgaria has agreed a 40% cut in the price of natural gas it imports under its long-term import contract with Russia, its dominant gas supplier, Prime Minister Boyko Borissov said Tuesday.

Bulgaria, which relies on Russian imports for more than 80% of its natural gas needs, is the last of eight eastern European countries to agree on a price cut after Brussels sealed an anti-trust agreement with Russia's gas giant Gazprom in 2018. But Borissov argued it has been the biggest.

"This morning Gazprom sent us the signed contract, which has the biggest price cut from all the countries that renegotiated their contracts. We have a 40% decrease," Prime Minister Boyko Borissov told reporters.

Under the deal with Brussels, Gazprom agreed to allow its customers to ask for lower prices when these diverge from benchmarks such as those in Western European gas markets.

The new price will be valid from August and was achieved after Gazprom agreed to link a significant part of the price to the ones on European gas hubs.

Bulgaria imports 2.9 billion cubic meters of gas from Russia per year under a long-term contract valid through 2022.

The negotiations have been long and difficult and were helped by the European Commission, said Nikolai Pavlov, the head of state-owned gas company Bulgargaz.

The price cut was agreed after Sofia imported 0.5 billion cubic meters of liquefied natural gas (LNG), including from the U.S. for the first time last year.

Sofia has stepped up building a gas link with neighboring Greece, through which it plans to import mainly Azeri gas, and agreed to buy a 20% stake in a new LNG terminal in northern Greece.

The substantial price cut also reflected Bulgaria's willingness to speed up the construction of the extension of the TurkStream natural gas pipeline project, which transmits Russian natural gas to Turkey and Europe under the Black Sea, through its territory, industry officials said.

----- 


Earlier:

RUSSIA, BULGARIA GAS PRICE DOWN 40%
2020, February, 7, 10:30:00
EUROPE'S CLEAN ENERGY INVESTMENT $5.4 BLN
"New targeted credit lines will support climate action by companies in Bulgaria, Italy, Romania and Spain, improve access to finance by energy, tourism and education companies in Serbia, help agriculture firms in Romania to expand and encourage circular economy investment in Spain," the EIB said in a statement.
All Publications »
Tags: RUSSIA, BULGARIA, GAS, GAZPROM
Chronicle:
RUSSIA, BULGARIA GAS PRICE DOWN 40%
2022, July, 4, 12:44:00
6TH ANNUAL LNG SUMMIT USA
The 6th Edition of Wisdom’s Much Acclaimed Annual LNG Summit Will Be Held Live in Houston - PREPARING THE INDUSTRY FOR THE RISE IN DEMAND FOR LNG
RUSSIA, BULGARIA GAS PRICE DOWN 40%
2022, July, 4, 12:43:00
9TH INTERNATIONAL LNG CONGRESS LNGCON 2023
9th International LNG Congress (LNGCON 2023) 6-7 March, 2023 Link to the Congress website: https://bit.ly/3tXVmr7
RUSSIA, BULGARIA GAS PRICE DOWN 40%
2022, July, 4, 12:40:00
GERMAN UTILITIES COLLAPSE
German leaders are stepping up warnings of impending turmoil and natural-gas shortages in Europe’s biggest economy, which relies on Russia for about one-third of its energy.
RUSSIA, BULGARIA GAS PRICE DOWN 40%
2022, July, 4, 12:35:00
IRANIAN OIL RISES
Iran could increase production to levels before the sanctions, he said, without giving an estimate of current output.
RUSSIA, BULGARIA GAS PRICE DOWN 40%
2022, July, 4, 12:30:00
S.KOREAN NUCLEAR FOR CZECH
"A nuclear power generation project requires more than a decade for construction and involves operations for more than 60 years. South Korea is a reliable partner in terms of economic feasibility, safety, and ensuring the construction period," Lee said.
RUSSIA, BULGARIA GAS PRICE DOWN 40%
2022, June, 28, 12:10:00
OIL PRICE: BRENT NEAR $117, WTI ABOVE $111
Brent climbed $1.9, or 1.7%, to $116.99, WTI rose $1.8, or 1.6%, to $111.36 a barrel.
RUSSIA, BULGARIA GAS PRICE DOWN 40%
2022, June, 28, 12:05:00
OPEC OIL PRICE: $112.35
The price of OPEC basket of thirteen crudes stood at $112.35 a barrel
All Publications »