Bulgargaz Seeks 1.78% Lower Gas Prices in Q1 2011
Thursday, 01 January 1970
Bulgaria's gas monopoly Bulgargaz said on Friday it is seeking a 1.78% cut in prices of natural gas for local consumers in the first quarter of 2011.
The proposed price of 527.81 levs ($358.94/269.87 euro) per 1,000 cubic metres, value-added tax excluded, reflects the international prices of energy resources that are an alternative to natural gas, the exchange rate of the Bulgarian lev versus the U.S. dollar, as a well as recent agreements between Bulgaria and Gazprom for cheaper gas supplies, Bulgargaz said in a statement.
The proposal also takes into consideration the fact that Scottish-based oil and gas company Melrose Resources started last month commercial production from its Bulgarian fields off the Black Sea shore.