Bulgargaz Seeks No Change in Q2 Natgas Prices

Bulgargaz Seeks No Change in Q2 Natgas Prices

Bulgaria's gas monopoly Bulgargaz has proposed that domestic natural gas prices remain unchanged at 656.47 levs ($449.6/335.6 euro) per 1,000 cubic metres in the second quarter of the year, the company said.

Natgas prices in the Southeast European country are reviewed on a quarterly basis, as any proposal for an adjustment on the part of Bulgargaz must be approved by the energy regulator to take effect.

"The proposed price reflects the positive trend in the Bulgarian lev/US dollar ratio, the rising price of natural gas alternatives on the international markets and the requirements of the statutory legislation regarding prices regulation," Bulgargaz said in a statement published on its website on Monday.

The price is net of Value Added Tax.

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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