Bulgargaz: Increase of about 17% in the Price of Natural Gas is Expected

"The estimated price of natural gas will be around BGN 350 (EUR 179), which is an increase of around 17 percent compared to the price for August," said Denitsa Zlateva, executive director of Bulgargaz, after the meeting of the Commission for Energy and Water Regulation.

According to her, this is due to the increased stock market index.

"Bulgargaz fulfills the contract with Gazprom and every day we send requests for supplies, we receive confirmation of zero quantities for the next day, the talks are at a political level. At this stage, the company is only fulfilling the existing contract. Bank transfers cannot be made," Denitsa Zlateva added.

She emphasized that the quantities for September are secured.

"In October, we have the total monthly quantities under the contract with the Azeri supplier, we have secured an entire tanker, which is secured by the American supplier, and additionally there is an auction for the remaining quantities of Gas Hub Balkan, where a competitive price is expected," added Zlateva.

She explained that for November it is being discussed how to structure the auctions - whether they should be monthly or for a longer period.

"It is important to secure the heating season, which means supplies until the end of April. According to preliminary estimates, as of today, prices are expected to be lower than those announced for September," said Denitsa Zlateva.

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/BNT