The Entire Management of Bulgargaz has been Replaced

The entire management of Bulgargaz has been replaced following a decision by the Bulgarian Energy Holding, BNR reports.

Lyudmil Yotsov has been elected executive director of the company - in place of Nikolay Pavlov, according to a protocol of BEH, published in the Commercial Register.

In addition to the executive director, the other members of the board were released - Svetoslav Delchev, Diana Boneva, Ilian Dukov, and Nikolay Donchev.

Lyudmil Yotsov, Angela Slavova, Anton Adamov, Ivan Topchiiski and Stefan Pandov Voynov have been appointed to the new board. It is not yet clear whether the fired board members of Bulgargaz will appeal the decision of the Bulgarian Energy Holding.

Before bTV, the Minister of Energy Alexander Nikolov confirmed the change of management of Bulgargaz. According to him, the inspections of SANS and the police have nothing to do with the decision of BEH but were taken on the basis of an inspection by the Bulgarian Energy Holding.

National Security and Police are doing an Inspection in Bulgargaz

Nikolov added that he did not know the reason for the inspection.

"Rather, the decision was made on the basis of how the company could have been managed and the public interest protected," he said. Nikolov pointed out that recently there has been a lot of talk about additional gas supplies from Azerbaijan and there was a letter that such supplies were possible.

"As for the price, however, because the company has made some commitments, it cannot correspond to the price under the long-term contract at least until July 1, 2022," said the Minister of Energy.

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