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Bulgargaz insists on 13 % rise in gas price, warns of repair works along Turkish Stream

The deliveries of natural gas for this 7-day period of the repair works to be carried out via an alternative route

Bulgargaz insists on 13 % rise in gas price, warns of repair works along Turkish Stream

Sofia, May 27 - Nefetgaz.RU.In the application submitted to the Energy and Water Regulatory Commission (KEVR), Bulgargaz requested a 13% increase in the price of natural gas, compared to prices in May.
This became clear during discussion on the price of blue fuel in KEVR, the local Novinite reported.

Bulgargaz CEO Nikolay Pavlov said during the discussion:
  • I would like to note that prices on European gas markets continue to rise compared to those of previous months, due to low levels of stocks in gas storage facilities, the lower pumping pressure compared to previous years
  • Gas prices on European markets have risen by more than 22% in the period since April 30
  • This increase in gas prices is likely to be quoted in the corrected application that Bulgargaz will submit on June 1
He also warned about the upcoming repair works on the Turkish Stream pipeline in June, and informed about the negotiations taking place with Gazprom to carry out deliveries via the alternative route of Trans-Balkan stream.
He noted:
  • The repair works of the Turkish Stream pipeline for the period 22 - 29 June are pending
  • This means that the repair works will lead to a disruption of supplies for a period of 7 days for Greece, North Macedonia, Serbia, Turkey, Romania and Bulgaria, which respectively will lead to a shortage of natural gas on these markets
Pavlov assured that Bulgargaz makes every effort to ensure natural gas supplies for this period.
  • Negotiations have been ongoing with Russia’s Gazprom for more than a month
  • The deliveries of natural gas for this 7-day period of the repair works to be carried out via an alternative route through Ukraine and Romania, during which the deliveries to Bulgaria were carried out by the end of 2019
Pavlov pointed out and reminded that this route was used to provide supplies during the repair works of Turkish Stream pipeline in 2020.
He answered in response to a question from the President of KEVR Ivan Ivanov, who reminded that Gazprom is obliged to carry out their deliveries under contract:
  • The repair works along the Turk Stream will be carried out on the territory of Turkey
The closed-doors KEVR meeting, at which a decision on the price of natural gas for the next month will be decided, will take place on 1 June 2021.

Source : Neftegaz.RU


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