Natural Gas in Bulgaria will be Cheaper this Month

Energy | June 1, 2022, Wednesday // 13:41|  views


The price of natural gas in Bulgaria in June will be lower than in May.

This became clear after the Energy and Water Regulatory Commission (EWR) published the proposal of the state supplier Bulgargaz, proposing that the price of gas for June be BGN 141.28 / MWh.

For May, EWRC approved the price of natural gas of BGN 162.17 / MWh.

After the suspension of Russian supplies, Bulgargaz negotiated alternatives from Greece for May, which increased the price by 14.3 percent.

This month, however, the situation will be different.

Two liquefied American gas tankers are expected in June, which the government says will be below the price of Russian gas, but its value also depends on liquefaction, transmission, regasification and transportation costs to Bulgaria. As of today, the deliveries of the American gas are expected to start entering the network of Bulgargaz.

In addition, according to the most optimistic scenarios, it is possible that the gas connection with Greece will start operating this month. The construction of the interconnector is on the final straight and the tests of the pipeline are expected soon, which will allow the quantities from the long-term contract with Azerbaijan, which are at extremely low prices, to start coming to Bulgaria. This is very important for Bulgaria because the contract with the Azeris is for 1 billion cubic meters per year, which covers one-third of our country's consumption.

Bulgaria ran out of Russian gas on April 27th after Bulgargaz transferred the amounts due in advance for deliveries in May, as agreed, but Gazprom did not accept the payment because it did not meet the requirements for a second account in rubles to transfer the converted funds. Gazprom later returned the money to the state-owned company. Bulgargaz has refused to open a ruble account, arguing that its own funds remain out of control and that gas prices could rise in financial transactions, which violate EU sanctions against Moscow over the war in Ukraine.

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Tags: Bulgaria, gas, Bulgargaz, cheaper


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