Bulgaria's biggest private gas supplier Overgas has signed a new deliveries contract that gives it gas from the biggest state company. Bulgargaz will pump BGN 300 million cubic meters of gas to the private company, allowing it to meet the needs of 60 000 households and 3000 public and industrial consumers. Gazprom halted supplies to OvOvergas Signs New Supply Contract with Bulgargaz Overgas at the end of last December, citing commercial issues, prompting the private suplier to demand gas from the state-owned company. The supply network of Overgas was taken over by Sasho Donchev, who until then had a 50% stake in the company alongside the Russian energy giant. Overgas in September demanded that its firs contract with Bulgargaz be terminated, and that conditions should be renegotiated, but the latter request was turned down. Bulgargaz receives the bulk of its gas from the Russian holding - the same source Overgas had been using until the end of last year.
Source: Dnevnik (03.01.2017)

Six banks, one refinery and a copper plant have declared the highest revenues for 2015, former finance minister Vladislav Goranov said. The top ten companies with the highest number of declared revenues are Post Bank, Central Cooperative Bank, LUKOil Neftochim Bourgas, UniCredit Bulbank, Aurubis Bulgaria, the National Electric Company, Allianz Bank Bulgaria, LUKOil Bulgaria, DSK Bank and Societe Generale Expressbank. In 2014, Bulgargas and GP Reinsurance also featured in this group. In 2016, the companies that paid the highest amount of corporate tax was OMV Bulgaria, followed by LUKOil Bulgaria and Shell Bulgaria. The top ten also included Saksa, Bent Oil, LUKOil Aviation Bulgaria, Petrol, Litex, Overgas Inc. and Eco Bulgaria.
Source: investor.bg (31.01.2017)

Dep.-Energy Minister Becomes Board Member of Bulgaria’s National Electricity Company Konstantin Delisivkov, deputy-minister of energy in the interim government of Ognyan Gerdzhikov, will replace Hristo Georgiev at the board of directors of Bulgaria’s power incumbent National Electricity Company (NEK). Delisivkov’s appointment was announced on Tuesday by its parent-structure Bulgarian Energy Holding (BEH), along with two more changes at other BEH subsidiaries. Petyo Ivanov, CEO of the holding, will replace Jacklen Cohen at the board of directors of Kozloduy NPP. Furthermore Nikolay Pavlov, currently acting as interim energy minister, will be replaced by Stoyan Yanchev at the board of directors of gas incumbent Bulgargaz. The changes are meant to ameliorate the management of the companies in order to achieve financial stability. Although NEK has seen some improvement in its financial state, in December the government of Boyko Borisov approved EUR 601.6 million state-aid earmarked to secure the payments of the power incumbent, related to the Belene NPP arbitration case with Russia’s Atomstroyexport. In December Standard & Poor's Ratings Services (S&P) confirmed its 'B' long-term corporate credit rating on NEK, reflecting on the utility's financial dependence on regulatory decisions.
Source: Monitor (08.02.2017)

Bulgargaz to seek 32.4% hike in wholesale gas price in Q2 Bulgarian public gas supplier Bulgargaz has said it plans to propose to the energy regulator a 32.44% increase of the wholesale price of natural gas in the second quarter of 2017. Bulgargaz is going to seek an increase of 90.89 levs per 1,000 cu m to 371.10 levs ($201.9/189.7 euro) per 1,000 cu m, excluding VAT and excise duty, Bulgargaz said in a statement on Friday. The final proposal will be submitted to the energy regulator on March 10, the company added. In December, Energy and Water Regulatory Commission approved a 4.65% rise in gas price in the first quarter of 2017, lower than the 13.53% increase proposed by Bulgargaz. Bulgarian energy regulations require Bulgargaz to set the gas price quarterly, taking into account global oil prices and the lev/dollar exchange rate. The Energy and Water Regulatory Commission (EWRC) has the final say on the proposed change in the wholesale price at which the state-owned company sells natural gas to end-suppliers and customers directly connected to its transmission network. Bulgaria imports almost all the natural gas it needs from Russia via a pipeline crossing Ukraine, Moldova and Romania.
Source: Capital (13.02.2017)

Bulgaria's Bulgargaz 2016 net profit rises Bulgarian state-owned natural gas supplier Bulgargaz said its net profit rose 80% to 36.7 million levs ($20 million/18.8 million euro) in 2016. however, Bulgargaz's total revenue fell to 1 billion levs in 2016 from 1.4 billion levs a year earlier, the company said in an annual financial report. The company sold 3 billion cu m of gas last year, up from 2.65 billion cu m in 2015. The company noted that in 2016 the cost of natural gas sold, representing 96.6% of total expenses, was 30.36% lower year-on-year. Bulgargaz' total assets decreased to 337.2 million levs in 2016 from 456.6 million levs in 2015. Bulgargaz is part of the Bulgarian Energy Holding (BEH), which pools all state-owned energy assets.
Source: Capital (06.04.2017)

The chemical industry is the largest customer of Bulgargaz in 2016 The chemical industry is the largest customer of Bulgargaz in 2016, according to the company. Therefore, companies in this sector will suffer the greatest impact from the higher price of natural gas. Statistics from the state company show that last year companies from the chemical industry consumed 1.1 bln cubic meters of natural gas, which is slightly over 36% of the realized natural gas. Second is the power sector with 917 mln cubic meters (30%), followed by distribution companies (15%). Large consumer of natural gas in 2016 is the glass industry, where consumption amounted to 239 mln cubic meters, or almost 8% of the realized amounts by Bulgargaz. The data of the company shows that consumption last year increased by almost 15% and this is mainly due to the increased quantities in the chemical industry - by 10%, as well as new customers among distribution companies.
Source: investor.bg (11.04.2017)

Sofia Prepares Statement on Gazprom’s Obligations Minister of Energy Nikolay Pavlov informs that at the moment the Bulgarian state – owned companies Bulgarian Energy Holding, Bulgargaz and Bulgartransgaz are working hard on the preparation of detailed analyses of the proposals for commitments, submitted by Gazprom at the EC, according to BNR. Today representatives of the ministry and the three energy companies will take part in a discussion of the topic at an international gas forum in Warsaw. On 13 March 2017 the EC invited all interested member – states to present within 7 weeks statements on the commitments, offered by Gazprom, sent as a response to the EC concerns about the lack of competition on Central and South-East Europe’s gas markets. The anti-monopoly court case of the EC is related with the gas markets of 8 EU member-states-Bulgaria, the Czech Republic, Estonia, Latvia, Lithuania, Poland, Hungary and Slovakia.
Source: Standart (21.04.2017)

Bulgarian Prosecution Raids Energy Watchdog on Malfeasance Accusations The Office of Bulgaria’s Prosecutor General announced on Monday it has raided the headquarters of the Energy and Water Regulatory Commission (EWRC) on suspicion on malfeasance. An investigation will be launched today, aiming to find out whether the energy watchdog fulfilled its lawful duties of controlling natural gas distribution companies regarding investments pledged in their business plans. The prosecution said it will also look into a merger of companies in Sofiagas, later renamed to Overgas Mrezhi. There are suspicions that the EWRC helped keep natural gas prices at artificially high levels. The prosecution will also investigate a claim by privately held gas supplier Overgas Inc that state-run gas transport grid operator refused it access to the grid and Bulgaria’s sole underground gas storage at Chiren. The prosecution considers that the energy watchdog did not react accordingly which could have contributed to the launch of an infringement procedure by the European Commission against state-owned Bulgartransgaz and Bulgargaz. Mr. Sasho Donchev, CEO of Overgas, came under scrutiny last week, when he alleged Prosecutor General Sotir Tsatsarov pressured him to abandon support for the political formation 'Yes,Bulgaria' ('Da, Bulgaria') Last but not least, with the help of the National Security the prosecution said it will look into the latest pricing decisions of the EWRC regarding natural gas, district heating, and water, the latter only in Sofia. Bulgaria's National Security Agency has already seized paperwork from the EWRC.
Source: 3e-news (25.04.2017)

Bulgaria backs proposed EU antimonopoly settlement with Gazprom Bulgaria's caretaker government approved the position of the European Commission on a possible deal with Gazprom to settle the antitrust dispute on the Russian gas giant's practices in Central and Eastern Europe. "The interested Bulgarian companies, including the Bulgarian Energy Holding, Bulgargaz and Bulgartransgaz, are in constant contact with the European Commission for the purpose of receiving further information," the government said. The government also said it needs additional information about the option that could allow Gazprom to change the point of delivering gas to the Bulgarian border. "With regard to the security of gas supplies, it is important for Bulgaria that changes to the delivery points be discussed only after a thorough analysis as to whether guarantees exist regarding the volumes and routes of gas supplies as well as the transit fees," the government said. It added that ensuring direct gas supplies across the Black Sea to Bulgaria and Southeast European countries would contribute to the political and economic stability of the region.
Source: Darik Radio (04.05.2017)

Bulgargaz to seek 4.2% hike in wholesale gas price in Q3 Bulgargaz will propose a natural gas price increase of 4.22 per cent starting July 1, referring to a statement the State-owned company has submitted to the Energy and Water Regulatory Commission. If the regulator approves the proposed increase, it will be the third one this year, after the 4.65 per cent increase in January and the 29.64 per cent increase in March. The total natural gas price increase since the start of this year would add up to over 41 per cent. According to Bulgargaz's motives, the price of natural gas should go up because of the Russian gas supply price is expected to increase. This happens while Bulgaria hopes to negotiate better conditions and prices for the supply of natural gas as part of the EC's case against Gazprom for abuse of dominant position.
Source: Capital (12.05.2017)

Regulator Will Probably Okay 1.91 Per Cent Hike of Natgas Price, Effective July 1, as Requested by Bulgargaz The Energy and Water Regulatory Commission (EWRC) will probably approve a 1.91 per cent increase in the price of natural gas, effective July 1, 2017, as requested by Bulgargaz. The request has been confirmed in a working group report that the EWRC considered at a public meeting on Tuesday. Bulgargaz proposes that the price of natural gas rise to 370.21 leva per 1,000 cu m exclusive of VAT, excise duty and transmission charge. "Natural gas may cheapen in October, if the prices of oil and petroleum products decline," said EWRC Chairman Ivan Ivanov. If the natural gas price falls by more than 5 per cent, the price of heat may drop as well. A Bulgargaz representative told journalists that oil is bearish and has cheapened by 10 per cent since May. The EWRC will adopt its decision on the new price of natural gas, effective July 1, at a closed-door meeting on June 30. At that meeting, the regulator will also set the price of electricity for the new regulatory period.
Source: econ.bg (28.06.2017)

Bulgargaz, Gazpromexport Contract to Be Presented to Sofia Administrative Court The contract between Bulgaria’s gas incumbent Bulgargaz and Russia’s Gazpromexport will shine a light on the natural gas price increase in Q2, Bulgarian energy watchdog chairman Prof. Ivan Ivanov said on Wednesday. Bulgarian prosecution has raised an objection against a 30 per cent natural gas price increase as of April 1 which led to a case being open by the Sofia Administrative Court. Prof. Ivanov also said that the contract between Bulgargaz and the country’s main gas supplier Gazpromexport is to be presented to the court. Prof. Ivanov commented that even though the limited local output produced by Petroceltic at the offshore gas field Galata comes at lower prices, Petroceltic has no obligation to sell to Bulgargaz.
Source: Sega (06.07.2017)

Sixty per cent of the top 100 companies report increased annual sales. A little over half of the companies (52) are foreign-owned. The energy sector is most widely represented in the chart with 18 companies, followed by companies in distribution and retail trade (14), and those involved with fuels and machinery (11). State-owned companies have increased by one to eleven. The new addition is the VMZ Sopot ordnance plant. The total assets of the top 50 companies amount to 61 billion leva, which is a 2 per cent increase in 2016. The top 100's total revenue stands at 58.3 billion leva. At the top of the chart is Lukoil Neftohim Burgas (oil refinery), followed by Aurubis Bulgaria (metals), the National Electricity Company (energy), Lukoil Bulgaria (fuels), Kaufland Bulgaria (hypermarket chain), CEZ Electro Bulgaria (energy), Express Logistics and Distribution (trade), Bulgargaz (energy), OMV Bulgaria (fuels), SAKSA (fuels).
Source: mediapool.bg (10.07.2017)

Cooperation between Bulgaria, Greece Promotes Diversification of Natural Gas Supplies in Southeastern Europe The diversification of routes and sources for natural gas supplies in Southeastern Europe has become possible thanks to the excellent cooperation between Bulgaria and Greece. Bulgarian Energy Minister Temenouzhka Petkova and Greek Minister of Energy and Environment Giorgos Stathakis rallied around the idea during a meeting. It is in the interests of both countries that the projects for an interconnector between Greece and Bulgaria and a LNG terminal at Alexandroupoli complement each other rather than compete. Their implementation will create conditions for competition which will have a positive effect on the natural gas prices in the regions, the two ministers concurred. Bulgarian Energy Minister Petkova said that the contractor for the construction of the interconnector will be procured in the autumn of 2017 and works will begin in the second half of 2018. Petkova said that some 35 million euro in additional financing will be allocated under the Operational Programme for Innovation and Competitiveness, Greek Energy Minister Stathakis added Greece has put aside some 12 million euro for the project under EU structural funds, Within the framework of the visit of the Greek delegation, a working group met to study ways for Bulgaria to participate through the Bulgarian Energy Holding in the implementation of the LNG terminal projects in Alexandroupoli.
Source: investor.bg (11.07.2017)

The EC Reportedly Agreed to Russian Gas in Planned Balkan Gas Hub The European Commission (EC) has reportedly acquiesced to allowing Russian gas to the planned Balkan gas hub near Varna, Bulgaria. It had seen a copy of a letter from energy and climate commissionaire Miguel Arias Canete to Bulgarian energy minister Temeuzhka Petkova in which Canete wrote that “the Commission continues to support the concept of the Balkan gas distribution center”. Reportedly the letter further said that the potential for supply diversification of the Balkan gas hub also included the possibility for “Russian gas to be transported to and traded in Bulgaria in compliance with internal gas market rules”, along with gas from other sources. The letter from commissionaire Canete came as a response to a question posed by the Bulgarian side regarding a possible rekindling of the cancelled South Stream gas pipeline project and other direct routes for Russian gas to Bulgaria. Canete’s reply stipulated that a South Stream restart should be regarded together with other projects for gas infrastructure expansion.
Source: Standart (28.07.2017)

Bulgargaz to seek 6% cut in wholesale gas price in Q4 Bulgarian public gas supplier Bulgargaz said on Friday it plans to propose to the country’s energy regulator to cut the wholesale price of natural gas by 6.0% in the fourth quarter of 2017 due to strengthening of the lev currency against the U.S. dollar. Bulgargaz is going to seek a cut of 22.22 levs, to 347.99 levs ($209.8/177.94 euro) per 1,000 cu m of gas, excluding transport costs, VAT and excise duty, the company said in a statement. The company will submit its final proposal to the energy regulator on September 8. Bulgarian energy regulations require Bulgargaz to set the gas price quarterly, taking into account global oil prices and the lev/dollar exchange rate. The Energy and Water Regulatory Commission (EWRC) has the final say on the proposed change in the wholesale price, at which the state-owned company sells natural gas to end-suppliers and customers directly connected to its transmission network. Bulgaria imports almost all the natural gas it needs from Russia via a pipeline crossing Ukraine, Moldova and Romania.
Source: Capital (14.08.2017)

The state gas trader, Bulgargaz, has reported poorer financial performance: it registered a loss of 14.5 million leva at a profit of 35.4 million leva in the like period of last year, the website capital.bg writes. Nearly half of this loss (6.7 million leva) is due to the fact that the company would sold natural gas below the production cost, at which it had purchased it. This means that the company lost 34 leva per 1,000 cu.m. from its main activity in the second quarter of the year. This is due to the price of the natural gas that is determined by the energy regulator. According to company's data, the average weighted value for the first quarter of the year was 292.2 leva/1,000 cu.m. This price is 16 per cent lower compared to the average weighted one for the first quarter of last year. Losses have also been incurred by the revalorization of the payments to Gazprom. The company's losses from this activity amount to 12.8 million leva at 5.7 million leva for the same period of last year.
Source: Capital (14.08.2017)

Bulgarian Energy Ministry: 'The Increase in the Final Price of Natural Gas Will be Below 2%'' 'The increase in the final price of natural gas will be below 2%. It is not true that gas will rise by 60%.'' This was announced by the Minister of Energy Temenuzhka Petkova at a briefing in the Council of Ministers, reported BGNES. ''A meeting between Bulgargaz, Bulgartransgaz, the Ministry of Energy and the State Agency of Energy Regulation will be held today. Within this meeting, all the details will be clarified'', the Minister added. ''First of all, the increase in the transmission and access fees is with a decision of the European Commission, which is in force since 2011. According to this decision, each of the operators should change their tariff policy'', she explained. The new gas price will come into force from 1 October this year. According to Petkova, household consumers will not feel the price increase.
Source: Monitor (31.08.2017)

Entry-Exit Natural Gas Transit Tariffs to Cause Up to 2.4% Price Hike The new entry-exit natural gas tariffs system planned for introduction in Bulgaria on October 1 will result in end-price increase by some 0.37 – 2.4 per cent, an analysis by state-run gas transmission system operator Bulgartransgaz reportedly revealed. These data were announced by the Bulgarian Ministry of Energy following an entire day of talks with large industrial consumers on the expected effects of the new tariffs system. By 18.00 EET on Tuesday no agreement was reached by the two sides. “It is very important for us that Bulgarian industry is developed in market conditions and that its competitiveness is guaranteed”, Bulgarian energy minister Temenuzhka Petkova said following the meeting. Currently Bulgaria has a fixed fee for gas transport via the Bulgartransgaz network amounting to BGN 19.73/1,000 cub. m (EUR 10.09/1,000 cub. m), VAT not included. The entry-exit model was devised five years ago. Bulgartransgaz said that the new tariffs system better reflected actual service costs and grid investments. Even though the entry-exit system’s introduction as of October 1 was backed by the State Energy and Water Regulatory Commission (EWRC) against pleas by the industry citing gas price steep increase concerns, the Bulgarian energy regulator is to inspect the calculations of Bulgartransgaz once more on September 11. A new round of talks with the industry will take place afterwords, the energy ministry said in a press release.
Source: 3e-news (07.09.2017)

Bulgaria, Greece, Serbia to Cooperate for Regional Gas Market Liberalisation Bulgaria, Greece and Serbia will be cooperating on gas projects that would increase security of supply in the region. Bulgarian energy minister Temenuzhka Petkova and her Greek and Serbian counterparts Giorgos Stathakis and Aleksandar Antic met on Thursday in Alexandroupoli, Greece, during an oil and gas forum, to discuss gas sources diversification for the region, the Bulgarian energy ministry said in a statement. Minister Petkova said that talks are underway with the European Commission so that additional financing for the Greece – Bulgaria gas interconnector (IGB) could be made available. At European Union level, the IGB Project has already obtained consistent political and financial backing. The project is subject of EU financial support through the European Energy Program for Recovery (EEPR) to the amount EUR 45 million. The three ministers also discussed the planned Vertical Gas Corridor, the Alexandroupoli LNG terminal and the Bulgaria – Serbia gas interconnector, along with another planned mega project – Bulgaria’s Balkan gas hub, with minister Petkova calling it a “European project”. “We are convinced that Greece and Serbia will play a vital part in the construction of the European gas hub Balkan”, Petkova said. The Balkan gas hub has been announced by Bulgarian PM Boiko Borissov a few years ago, with more agitation around it recent months, leading up to its presentation to U.S. congressmen by Borisov himself in end-August. Use of South Stream gas pipeline infrastructure and a direct link to its subsituting project - the Turk Stream, have all been launched as ideas for the Balkan gas hub realisation. The project has been reported to have the blessing of the European Commission for Russian gas to flow towards it. /publics.bg
Source: Other (08.09.2017)

18 Bulgarian companies in a European ranking 18 Bulgarian companies are among the 500 largest companies in Central and Eastern Europe in 2016 according to the authoritative annual rating of the international credit insurer Coface. Companies are mainly selected by turnover, but additional data such as number of employees, the range of companies, sectors and markets are also taken into account. A leading Bulgarian company in the ranking in 2016 is the Bulgarian Energy Holding, which holds 25th place. Lukoil Neftochim Burgas is 45th and Aurubis Bulgaria is 78th. The rest are NEK, Lukoil Bulgaria, Kaufland Bulgaria, CEZ Elektro, Advance Properties, Express Logistics and Distribution, Bulgargaz, Daphna Group, OMV Bulgaria, Sopharma, BTC , Kozloduy NPP, Saxa, Huvepharma and Astra Bioplant. The last two are listed for the first time. Ten of the companies, including the first 4, go down the list compared to the previous year due to a decline in their turnover. The largest number of companies in the Coface ranking is from Poland - 168 companies, followed by Hungary and the Czech Republic.
Source: 24 chasa (08.09.2017)

Bulgargaz Proposes 7.29 Decrease of Natural Gas Price in 4th Quarter of 2017 In accordance with the terms and conditions of the Ordinance on the regulation of natural gas prices Bulgargaz EAD, a subsidiary of the Bulgarian Energy Holding EAD, proposed to the State Energy and Water Regulatory Commission to approve a natural gas price of 343.22 BGN per thousand of cu.m. (exclusive of the prices for access, transmission, excise duty and VAT) for the fourth quarter of 2017, the company said. This is a decrease by 7.29 or 26.99 BGN per thousand of cu.m. in the third quarter.
Source: econ.bg (11.09.2017)

Industrial Energy Consumers Urge Postponement of New Natural Gas Rates The Bulgarian Federation of Industrial Energy Consumers (BFIEC) have sent a letter to Prime Minister Boyko Borissov and Deputy Prime Minister Tomislav Donchev warning them of grave consequences from a contemplated change in the rates for transmission of natural gas from October 1, 2017. The letter, which was also sent to the news media, says that the matter has been discussed many times with the Energy Minister and the energy regulator but the position od the BFIEC has been ignored. "What was proposed is only a partial delay of the price increase and this is no solution," the Federation says. They disprove the allegations of gas transmission operator that the transmission rate increase is called for by the European rules and say that the European regulations have nothing in them that would bring about such an increase. They warn that the way it is configured, the entry-exit model will make impossible the liberalization of the natural gas market because no gas supplier will be able to compete with Gazprom with the low profit margins on the market. The Federation also point out that the rate increase was not accompanied with an impact assessment. They warn that the new method of distributing the costs "will surely hamper the import of gas from sources which are alternative to the Russian Federation". BFIEC say that while they are not against the requirements for transposing the EU rules, they believe that this cannot be a goal per se and that the key principles for proportionality and nondiscrimination should continue to apply.
Source: BTA (19.09.2017)

Bulgarian energy regulator endorses cut in Q4 gas price Bulgaria's ånergy regulator said on Friday it has approved a 7.29% cut in the wholesale price of natural gas in the fourth quarter proposed by public gas supplier Bulgargaz. As of October 1, wholesale gas prices will fall to 343.22 levs ($210.8/175.8 euro) per 1,000 cubic metres, the Energy and Water Regulatory Commission said in a statement. Bulgarian energy regulations require gas prices to be set quarterly, taking into account global oil prices and the lev/dollar exchange rate. Bulgaria imports almost all the natural gas it needs from Russia through a pipeline crossing the territories of Ukraine, Moldova and Romania.
Source: Dnevnik (02.10.2017)

9 Bulgarian companies enter the SEE TOP 100 of the largest companies in Southeastern Europe Bulgaria is ranked in the SEE TOP 100 of the largest companies in Southeast Europe with nine representatives. For the tenth consecutive year, the business information agency has produced the annual ranking based on total revenue of the companies in 2016. This year Bulgaria has two representatives less than last year. The best performer among Bulgarian companies is Lukoil Neftochim Bourgas AD, which ranks 5th on the list. Next, ranked 12th, is Aurubis Bulgaria AD. National Electricity Company EAD is 14th in the ranking. Lukoil Bulgaria EOOD took 16th place. The other five other companies in the ranking are: 45th place - Kaufland Bulgaria EOOD, 66th place - CEZ Elektro Bulgaria AD, 82nd place - ELD Express Logistics and Distribution EOOD, 90th place- Bulgargaz EAD and 100th - OMV Bulgaria EOOD.
Source: econ.bg (04.10.2017)

First meeting of the gas group Bulgaria – Macedonia for new direct connection The main gas projects Bulgaria is working on will be important for the diversification of the sources and routes of the blue fuel in Macedonia too. The Minister of Energy Temenuzhka Petkova said this in a meeting with her colleague – the Republic of Macedonia’s Minister of Economy Kreshnik Bekteshi, the Ministry of Energy announced. Minister Bekteshi is in Sofia for the first meeting of the joint working group which will explore the possibilities for the development of an interconnection between the gas systems of the two counties. A memorandum for that was signed during Minister Petkova’s visit to Skopje on 1 August 2017. In the words of the energy minister missing infrastructure is a main problem for the Balkan Region and Bulgaria is working actively to overcome that difficulty. The main focus of starting next year Bulgarian Presidency of the Council of the EU will be Western Balkans, Petkova said. Until the end of this month two public procurement procedures connected with the construction of the Interconnection Greece-Bulgaria (IGB) will be announced. Their aim is to have the construction of the pipe started in the middle of next year so that it can being operating by the middle of 2020. Minister Petkova reminded that Bulgaria has signed a contract for the delivery of 1 billion cubic metres of natural gas from Azerbaijan, which will enter the country through the IGB.
Source: Other (27.10.2017)

Bulgargaz Demanded a 5% Increase in the Price of Gas An increase of 4.85% in the price of gas for the first quarter of next year is envisaged by the public provider Bulgargaz, the company said. The estimated gas price for this period is 359.87 BGN / hm3 (excluding access, transit, excise and VAT) - an increase of 16.65 BGN / hm3 or 4.85% (an increase of 1.56 BGN ./MWh or 4.84%) compared to the price for the fourth quarter of 2017. The increase is due to the higher exchange rate of the lev against the US dollar and the expected higher import prices of natural gas. The final proposal of Bulgargaz EAD for the approval of the price of natural gas for the first quarter of 2018 will be submitted to the KEVR on 11.12.2017.
Source: Dnevnik (13.11.2017)

Dexia Bulgaria and Petroceltic in a dispute about the stopped local supplies At the moment, Dexia Bulgaria has an effective contract with Petroceltic, under which the supplies were unilaterally terminated without notification and cause on 1 September, and without any subsequent contact for the voluntary solution of the situation with their extraction. In this connection, we initiated a court procedure for the payment of the damages due under the contract, and in the process of the Varna District Court two precautionary orders were issued for the seizure of all bank accounts and shares of Petroceltic.” This is said in the position of Dexia. It states that the distraint is imposed on the future receivables under the Petroceltic contract for the sale of natural gas as their only remaining client at that moment is Bulgargas, which in turn and following the decision of the Varna District Court, has refused Petroceltic to make payments to them.
Source: Other (20.11.2017)

Bulgaria expects a EUR 330 mln fine from Brussels for gas monopoly A fine of EUR 330 million may be paid by Bulgaria in the European Commission's case against the country for abuse of a dominant position by the state-owned Bulgarian Energy Holding (BEH) and its subsidiaries Bulgargaz and Bulgartransgaz. The amount of the fine was first announced officially by the Minister of Energy Temenuzhka Petkova. She also said that the government would comply with Parliament's decision to appeal the case, instead of recognizing a violation in order for the sanction to be reduced. On Friday MEPs obliged Petkova not to recognize the violation. This contradicts the government's original plan to recognize the gas monopoly, and thus a 30% reduction in the sanction. According to lawyers, the decision of the deputies can be legally disregarded because the ministers are not obliged to observe the decisions of the parliament, but only those of the Council of Ministers. Petkova, however, announced that she would not take this opportunity.
Source: mediapool.bg (27.11.2017)

EC Continues Probe into Suspected Abuse of Dominant Position on Bulgaria's Natural Gas Market The European Commission is pressing on with an investigation, launched two years ago against the Bulgarian Energy Holding (BEH) and its subsidiaries over suspected abuse of their dominant position on the natural gas market in Bulgaria, a spokesperson for the Commission said on Monday. He added: "We sent a statement of objections in this case but I cannot at this moment announce any further steps." In March 2015, the European Commission sent a statement of objections to BEH, informing it of the Commission's preliminary view that BEH may have breached EU antitrust rules by hindering competitors access to key gas infrastructures in Bulgaria. The statement of objections was also addressed to BEH's gas supply subsidiary Bulgargaz and its gas infrastructure subsidiary Bulgartransgaz. The Commission has concerns that BEH and its subsidiaries may be preventing competitors from gaining access to the infrastructure they need in order to successfully compete on gas supply markets in Bulgaria. If the concerns are justified this behaviour would have reduced and continues to reduce competition in gas supply markets in Bulgaria. The fine that the EC may impose in the case may reach 330 million euro. This transpired from a Bulgarian National Radio interview Sunday with Energy Minister Temenouzhka Petkova. The interview came a couple of days after the national Parliament adopted a resolution requiring of the government to reject a deal with the European Commission, which would have slashed the fine by up to 30 per cent.
Source: 3e-news (28.11.2017)

Overgas prepares a new signal to Brussels for the gas network Overgas is preparing a new complaint to Brussels, which is related to access charges and the separation of the gas network in the country for transit and domestic use. This was announced by the CEO of Overgas Networks Svetoslav Ivanov. The introduced model contravenes Regulation 715 and favors Gazprom Export, the company said and expects European Commission (EC) to file a case on this as well. At the end of last week it became clear that Bulgaria will be fined by the EC in the criminal procedure that was initiated after an appeal by Overgas in 2011. The fine will actually be paid by the Bulgarian Energy Holding (BEH), which has broken the rules and will be entered directly into the EC budget. The gas company itself will therefore seek compensation for the damages suffered in court.
Source: Capital (30.11.2017)

Bulgargaz EAD Proposes 2.83 Per Cent Hike of Natural Gas Price,Effective January 1, 2018 State-owned supplier Bulgargaz EAD has approached the Energy and Water Regulatory Commission with a proposal to endorse a price of 352.93 leva/1,000 cu m of natural gas or 33.52 leva/MWh exclusive of VAT, excise duty and network access and transmission charges for the first quarter of 2018, the company said on Friday. Compared to the present level of 343.36 leva/1,000 cu m or 32.27 leva/MWh, the proposed price is increased by 2.83 per cent (or 9.71 leva/1,000 cu m) or by 3.91 per cent (or 1.26 leva/MWh). The separate tariffs for quantity and energy are required by the European Commission. The EWRC will set the price of natural gas following a public consultation before the end of December 2017.
Source: Dnevnik (11.12.2017)