Bulgargaz Proposes 0.67% Cut in Gas Prices in Q4

Bulgargaz Proposes 0.67% Cut in Gas Prices in Q4

Bulgaria's gas monopoly Bulgargaz said it proposed a 0.67% cut in the price of natural gas for local consumers to 728.34 levs ($476.04/372.4 euro) per 1,000 cubic metres, value-added tax excluded, for the fourth quarter of 2012.

The proposal reflects the 11% cut in gas delivery prices until the end of the year that Bulgaria negotiated with Russia’s Gazprom, Bulgargaz said in a statement published on its website on Monday.

The price adjustment, made on a quarterly basis, must be approved by the Bulgarian energy regulator to take effect.

Bulgaria imports almost all the natural gas it needs from Russia through a pipeline crossing the territories of Ukraine, Moldova and Romania.

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