Talks on Russian Gas Prices for Bulgaria Imminent

The CEO of the Bulgarian Energy Holding (BEH), and former Deputy Energy Minister, Maya Hristova. Photo by BGNES

Talks on gas prices between Bulgaria's "Bulgargaz" and the Russian energy giant "Gazprom" are happening as early as this week, according to the CEO of the Bulgarian Energy Holding (BEH), Maya Hristova.

On November 13, Hristova and the "Gazprom" CEO, Alexey Miller, signed an agreement for the establishment of a joint company for the construction of the Bulgarian section of the Russian South Stream gas line. The signing took part in Sofia after a meeting between Bulgarian Prime Minister, Boyko Borisov, and his Russian counterpart, Vladimir Putin.

On Sunday, Borisov stated the price of Russian gas is going down and the trend was to continue.

In the eve of Putin's visit, Russian media reported the price of natural gas for Bulgaria might drop by 5% to 7%.

On Monday, Hristova assuaged fears Bulgaria would lose EU funding for the construction of gas connections with neighboring Greece and Romania.

"We are within the deadline. The European Commission sent us official notification that we are approved for such funding," the BEH CEO explained, adding a joint company for the connection with Greece would be established before the end of the year between BEH and the "Poseidon" company where the Greek "DEPA" and the Italian "Edison" have shares.

Hristova rejected reports Miller had stated "Gazprom" is ready to provide the initial financing of "South Stream."

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