Bulgaria to Get 20% Cheaper Russian Gas as of Jan 2013
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.
- » Gazprom Puts Forward New South Stream Route
- » Bulgaria's NEK Repays EUR 309 M Debt to Local Unit of U.S.-based AES Corp
- » Bulgaria’s BEH Signs EUR 535 M Loan Deal to Repay Debt to Units of AES, ContourGlobal
- » Competition Regulator Carries out Inspection at OMV Bulgaria
- » Bulgaria's Competition Watchdog Conducts Inspections at Shell, Eko
- » Noble Globetrotter II to Start Drilling for Gas off Bulgaria’s Coast in May