Bulgaria to Sign New Russian Gas Supply Contract by Nov 15

The new contract for the supplies of Russian natural gas for Bulgaria between Bulgargaz and Gazprom is due to be signed by November 15, 2012, Bulgarian Deputy Economy Minister Evgeniya Haritonova has announced.

Haritonova spoke at a meeting of the Economic Committee at the Bulgarian Parliament on Wednesday, as cited by BGNES.

She has not revealed any details about the terms of Bulgaria's new contract with Gazprom.

As Bulgaria's is over 95% dependent for its natural gas on Russian supplies, the government's deals with Gazprom are traditionally one of the country's hottest political issues, with the usually high prices paid by Bulgaria's state company Bulgargaz being blamed on the intermediaries between Bulgargaz and Gazprom.

Haritonova has assured the public that the government is making progress on the natural gas interconnectors with Romania, Turkey, and Serbia, which have been touted by the Borisov Cabinet as the means to diversify Bulgaria's natural gas supplies presenting coming only from Russia.

The Parliamentary Economic Committee on Wednesday discussed the reserves of the heating utilities in Bulgaria in the event of another "gas crisis" such as the one caused by the "gas war" between Russia and Ukraine in January 2009.

Stoyan Tsvetanov, head of Sofia's embattled heating utility Toplofikatsiya has revealed that the utility has 20 000 tons of oil in reserve, which would be enough to heat the Bulgarian capital for five days only in the event of another gas crisis.

Toplofikatsiya Sofia is massively in debt owing BGN 178 M only to Bulgargaz.  At the same time, 74% of its client households have fallen behind with their monthly bills.

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