Bulgargaz Seeks 25.78% Hike in Q2 Natgas Prices

Bulgargaz Seeks 25.78% Hike in Q2 Natgas Prices

Bulgaria's gas monopoly Bulgargaz said it is seeking a 25.78% rise in domestic natural gas prices to 780.06 levs ($527.21/398.83 euro) per 1,000 cubic metres, value-added tax excluded, in the second quarter.

The proposed price reflects the increase of global prices of energy resources that are an alternative to natural gas in the recent months, the appreciation of the Bulgarian lev against the US dollar and the fact that the country's energy regulator has kept unchanged natural gas prices in the first quarter, Bulgargaz said on Thursday in a statement published on its website.

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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