Bulgarian Expert: We Are Practically in War over Natural Gas Pricies

Business | September 21, 2021, Tuesday // 23:56
Bulgaria: Bulgarian Expert: We Are Practically in War over Natural Gas Pricies

The world is in a state of "gas war", sharp rises in industrial electricity prices are expected, and the situation will not improve soon.

This was said by the energy expert Vasko Nachev in tv interview on Bloomberg TV Bulgaria.

According to the expert, the increase in the price of gas, and hence electricity, is due to increased consumption, to which supply options currently can not respond.

The reason is not in Gazprom's reluctance to supply more natural gas, but in the technical impossibility of doing so at the moment, because these processes are planned for at least a year ahead.

The Russian company plans to supply 1 billion cubic meters of gas more from each of its two repositories to Europe from October 2022, for which preparations have been underway since August this year, "Nachev said.

Bulgaria supplies a quarter of the quantities of gas agreed with Azerbaijan and 50% more than stipulated in the agreement with Gazprom. "Why - this is a question for Bulgargaz," said Vasko Nachev.

The price of carbon emissions plays a major role in shaping the price of electricity at the moment.

In reality, the price of this issue is not determined on a market basis, but by the European Commission.

"This is not a market, this is a kind of racketeering," the expert commented. In a situation where prices are rising, Bulgargaz can demand everything for the regulator, "he said of the company's 16% price increase requested earlier today.

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