Azerbaijani gas shields Bulgaria from sharp price surge

The price of natural gas in Bulgaria will rise by 5.5% from September 1 compared with August, but will remain around 30%, or €25, below European market prices of €67–69 per MWh, with the competitive price made possible by an existing gas supply contract with Azerbaijan.

The price of natural gas in Bulgaria will reach €41.6 per MWh excluding additional charges, following a decision by the Energy and Water Regulatory Commission (EWRC), Caliber.Az reports, citing Russian media.

The regulator approved the adjustment based on a proposal by Bulgargaz and an analysis of the gas market.

Experts forecast that natural gas prices in Europe, including Bulgaria, will rise during the autumn due to low gas storage levels across Europe and risks surrounding LNG supplies amid geopolitical tensions in the Middle East.

By Bakhtiyar Abbasov