Bulgaria to Seek Bigger Discount on Gas Supplies from Russia

Bulgaria will seek a discount of at least 11% under the new gas supply contract with Russian Gazprom, according to Delyan Dobrev, Minister of Economy, Energy, and Tourism.

Dobrev announced Wednesday that the existing gas supply contract envisaged an 11% discount which applied for the period April-end-December 2012.

He said that Bulgaria tied the signing of the final investment decision on the Russia-backed South Stream gas pipeline project to the signing of the new gas supply contract between Bulgargaz and Gazprom from January 2013.

Dobrev explained that the discount stipulated in the new contract was very important both for consumers and the business sector in the country.

"A discount of USD 1 per 1000 cubic meters against a consumption of 3 billion cubic meters means USD 3 million per year," the Energy Minister emphasized, vowing that Bulgaria would fight for every dollar and penny of the price to win better terms under the new contract.

He informed that the signing of the final investment decision on the South Stream gas pipeline would most probably take place Wednesday or Thursday next week as the initial date of November 9 had been declared a national day of mourning in Bulgaria over the death of Orthodox Patriarch Maxim who passed away at the age of 98 on Tuesday.