Bulgargaz Forecasts 5-6% Dip in Natural Gas Prices for May
Bulgargaz, the leading public gas supplier in Bulgaria, anticipates a notable decrease in the price of natural gas for the upcoming month of May. According to Lyudmila Vitanova
The implementation of the Bulgaria-Turkey gas grid interconnection project has been delayed and it will be completed no earlier than 2019, according to Ivan Ayolov, Deputy Minister of Economy and Energy.
Speaking Thursday during a conference titled "Natural gas – infrastructure and services" organized by the Bulgarian Federation of Industrial Energy Consumers, Ayolov suggested that the government had inherited gas projects which had not been developed to the stage they were supposed to have reached.
He informed that the construction of the gas link with Romania was to be wrapped up in end-October, after which the facility would undergo tests.
According to reports of energy news portal 3e-news.net, Kiril Temelkov, CEO of state-owned gas transmission operator Bulgartransgaz, vowed that the Bulgaria-Romania gas grid interconnection would start functioning by end-2013.
Ayolov also informed that small progress had been registered with the Bulgaria-Greece gas link but the implementation of the Bulgaria-Serbia gas grid interconnection project had been fast-tracked, especially after the visit of Serbian Energy Minister Zorana Mihaylovic.
Bulgaria's Deputy Economy and Energy Minister specified that the land expropriation procedures for the Bulgaria-Serbia gas link and the selection of a designer were to start by end-October, thereby allowing the launch of construction works in May 2014 and the completion of the project by 2017.
Ayolov cited the signing of a contract for gas supplies with the consortium developing the Shah Deniz field as an accomplishment.
He noted, however that the implementation of the South Stream gas pipeline project proceeded behind schedule, adding that efforts were being made to make up for the 5-6 month delay.
Ayolov assured that Bulgaria would not sign any agreement on the funding of the South Stream gas pipeline project without guarantees that the national interests were protected.
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