Bulgaria seeks to re-sell Russian gas - Economy Minister

Bulgaria seeks to re-sell Russian gas - Economy Minister

Bulgaria seeks to introduce a clause in the new gas delievery contracts to be signed with Russia's gas major Gazprom envisioning re-sale of Russian gas to third countries, Economy Minister Traicho Traikov said, as quoted by Bulgarian National Radio on July 8 2011.Should Bulgaria secure larger gas supplies, it could re-sell the remainder, he said.The country proposed the scheme to Gazprom in 2010, but so far no information about the company's decision has been provided.Bulgaria's gas delivery contracts with intermediaries Overgas, Wintershall and Gazpromexport, all partially or outright owned by Gazprom, expire in 2012.On a separate note, Traikov rejected a report by Russian business daily Kommersant, saying that Bulgaria was planning to cut fourfold its gas supplies from Russia as it relied on gas deliveries from Azerbaijan."We will buy the gas offered at the cheapest price," he said.A week ago, Dimitar Gogov, head of state-owned gas company Bulgargas, said that the country would possibly sign its gas delivery contracts by the end of the year./Source: The Sofia Echo/

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