Long-term contract with Azerbaijan to reduce gas prices in February - Bulgargaz

Bulgaria's national gas company "Bulgargaz" predicts a 6 per cent decrease in gas prices in February.

According to the company's calculations, the price will drop to BGN 73 per megawatt hour, without VAT, Report quotes the Bulgarian media as saying.

The reason for the price decrease is due to various factors, including a long-term gas contract with Azerbaijan and liquefied natural gas purchased at auction. It is also planned to use gas from the country's storage facility in Chiren.

It is noted that the calculated price reduction of 6 per cent may still change and the final proposal will be made by "Bulgargaz". The proposal must be approved by Bulgaria's Energy and Water Regulatory Commission (EWRC).

The Trans Adriatic Pipeline (TAP) will export 1.39 billion cubic meters of natural gas to Bulgaria in 2023.