The Bulgarian state owned company "Bulgargaz" has offered a 1,36% decrease pf the price for natural gas for the fourth quarter of 2010.

The lower price for natural gas has been calculated after taking into account the quotation of alternative fuels on the Mediterranean markets, the average rate of the Bulgarian lev against the US dollar, the quantities of demanded natural gas by consumers and the recent additional negotiations with the Russian gas suppliers and the British oil and gas explorer Melrose Resources.

As a result, Bulgargaz has offered a gas price of BGN 535,10 for 1000 cubic metres, VAT excluded. Compared to the current gas price for the third quarter of 2010, which is BGN 542,50 for 1000 cubic metres, VAT excluded, the new price would be decreased by 1,36%, or BGN 7,40 less.

The proposal has been formed under the Order for regulation the natural gas price. In the meantime, Bulgargaz has not taken its income for the first half of 2010, which is more than BGN 78 M. Its restoration would lead to additional increase of the natural gas price by BGN 92,65 for 1000cubic metres, VAT excluded.

"The media expected that the price for natural gas would increase in the winter, but it would actually decrease. It might be a 1% drop but it will go down," said Bulgaria's PM Boyko Borisov on Thursday.

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