Bulgaria to Get 20% Cheaper Russian Gas as of Jan 2013

November 15, 2012, Thursday // 01:49
Bulgaria: Bulgaria to Get 20% Cheaper Russian Gas as of Jan 2013
Gazprom CEO Alexei Miller (L) and Bulgarian Prime Minister Boyko Borisov (R) gave a press conference Thursday after the signing of the final investment decision on the South Stream gas pipeline and the new gas supply contract. Photo by BGNES

Bulgaria and Russia signed Thursday a new 10-year gas supply contract stipulating a 20% discount and excluding intermediaries.

Under the contract, starting January 2013 Bulgaria will receive gas supplies directly from Gazprom Export.

The signing of the contract was attended by Prime Minister Boyko Borisov and Gazprom CEO Alexei Miller.

The new contract provides for a 20% smaller price compared to the tariff set out in the expiring gas supply contract.

The expiring contract with Gazprom sets a price tag of USD 520 per 1000 cubic meters of gas.

The new contract is for 10 years and on the sixth year Bulgaria will have an opportunity to renegotiate the price and the quantity of gas supplies.

On Thursday, Bulgaria also signed the final investment decision on the construction of the South Stream gas pipeline.

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