Gazprom plans no further reduction of natural gas prices for Bulgaria.

By bne IntelliNews October 27, 2010
Russia's gas energy major Gazprom does not intend to cut further the prices of natural gas for Bulgaria, the manager of the external relations department of the company Stanislav Tsigankov said for the national radio BNR. Tsigankov commented that the prices of the gas supplies to Bulgaria are the lowest in Europe. We remind that the local authorities informed in July that Gazprom agreed to sign annexes to the existing gas supply contracts but declined to announce the details of the agreement. Economy and energy minister Traycho Traykov stated that without the said agreement and the local extraction by UK's Melrose Resources, natural gas prices would have risen by 13-14% as of Oct 1. Instead, the state energy commission allowed a 0.94% decrease. Minister Traykov hoped to negotiate further reduction of the price of the natural gas deliveries to Bulgaria during the visit of Gazprom CEO Alexey Miller in Bulgaria earlier in the month.

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