Bulgaria: The State to grant a Loan of BGN 800 million to Bulgargaz

Energy | August 11, 2022, Thursday // 13:22|  views


In order to fill the liquidity hole in "Bulgargaz", loans will also be sought from private banks. This was announced by the Caretaker Minister of Energy, Rosen Hristov. Today, the government decided to grant an 800 million BGN loan from the company's budget, and expects it to pay it back as quickly as possible by taking loans from other institutions.

Hristov explained that in addition to "Toplofikatsia Sofia" (Heating Systems Sofia), which owes "hundreds of millions" to "Bulgargaz", other heating companies, hampered by the expensive gas, as well as other customers of the state gas supplier, are starting to delay their payments.

The minister announced that the government expects the Bulgarian-Greek gas connection to finally be put into operation at the beginning of September, but this has not yet been confirmed by the builder - the Greek company Avax. Its director has been invited to a meeting with President Rumen Radev on Friday, when an updated schedule for the completion of the project is also expected.

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Tags: Bulgargaz, loan, company, gas


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