BULGARGAZ EXTEND TRANSIT NETWORK

Views on BG | September 28, 2001, Friday // 00:00

When the programme to expand the natural gas transit network in Bulgaria is completed, 50 to 60 per cent of the gas supplies to the Turkish market and 100 per cent of the supplies to Greece and Macedonia will be transported via Bulgaria, Bulgargaz Chief Executive Director Kiril Gegov said. Gegov attended a meeting of the parliamentary Committee on Energy.

A three-year investment programme is due to be completed three months from now. The programme stipulates the collection of in-kind transit charges which amount to one-third of domestic natural gas consumption, Gegov said.

Bulgargaz said they owe 57m leva to the state, down from 650m leva two years ago. Between July 1999 and August 2001 Bulgargaz paid 500m leva in taxes.

The company is still experiencing difficulties in collecting overdue payments from its debtors, said Gati Aldzhaburi, Vice President of the State Power Engineering and Energy Resources Agency. Some 95 per cent of current obligations are being collected under agreements with customers, he said.

Bulgargaz expects to collect 250m leva from its debtors, participants in the meeting said. According to Gegov, only heat utilities have incurred new debts.

Over the last two years Bulgargaz has collected 220m leva in long-overdue debt payments from the Sofia heat utility Toplofikatsiya and other customers. Two years ago, the debts to Bulgargaz totalled 470m leva, Gegov said.

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