Russian Gazprom Offers Bulgaria Gas Price Reduction

The Russian energy giant Gazprom is willing to reduce gas prices for Bulgaria by 5% to 7% in the wake of the visit of Russian Prime Minister, Vladimir Putin, to Sofia. File photo

The Russian energy giant Gazprom has prepared a package of gas price offers for Bulgaria providing for their lowering by 5% to 7%.

The information was reported Saturday by the Russian news agency ITAR-TASS in the wake of the visit of Russian Prime Minister, Vladimir Putin, to Sofia for a round of crucial energy talks with Bulgarian counterpart, Boyko Borisov.

The reduction is made possible by taking into account latest gas prices while Russia and Bulgaria have reached a prior agreement to eliminate intermediaries in the delivery of Russian gas, effective from January, 2012, the report points out.

It was also negotiated that by June 30m 2011, Gazprom will sign a direct, long-term contract with Bulgargaz for gas supply, guaranteeing Bulgarian consumers' needs and under conditions no worse than those that can be provided to any other potential buyer.

According to ITAR-TASS, the volume of transit gas to Bulgaria would reach 23 B cubic meters by 2030, compared to the current 15.5 B cubic meters.

In a TV interview late Friday, Economy and Energy Minister, Traicho Traikov, announced he expects the talks in Sofia to lead to a 5% reduction of price of Russian gas for Bulgaria along with a discussion on the second Nuclear Power Plant (NPP) in the Danube town of Belene.

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