#Gazprom and Bulgargaz agree on 40% cut in price for natural gas for Bulgaria

Russia’s Gazprom and Bulgaria’s Bulgargaz, the sole public supplier of natural gas for Bulgaria, have agreed on a 40 per cent reduction in the price of natural gas imported to Bulgaria in terms of its long-term contract with the Russian gas supplier, a March 3 news conference at the Cabinet office in Sofia was told.

The price reduction is backdated to August 2019, Bulgargaz executive director Nikolai Pavlov said.

Initial estimates are that the reduction means that Bulgargaz will return 150 million leva with VAT to its customers for the period August 5 2019 – February 29 2020, Pavlov said.