Bulgargaz Holding, the state-controlled gas distributor, is considering the launch of an engineering division for equipment supplies, repairs and expansion of its existing gas infrastructure, said the economy ministry. The board of the company recently authorised chief executive director Lyubomir Denchev to examine the opportunities for the creation of the new division and report back within three months. Bulgargaz subsidiary Bulgartransgas already has a division that handles investment, pre-investment control and equipment supplies.
Source: Dnevnik (09.04.2008)

Bulgaria's Supreme Administrative Procuracy and the National Security State Agency (NSSA) have been investigating this past month the procedures for the collection of transit fees paid by Russian gas monopoly Gazprom. The check aims to establish the legality of the transit fees for gas pumped to Greece and Turkey pocketed by Bulgargaz trading unit instead of Bulgartransgaz and if the scheme is prone to abuse. Both of the cited companies are subsidiaries of state-controlled gas distributor Bulgargaz Holding. The probe was launched in response to a request from Bulgartransgaz executive director Angel Semerdjiev that the authorities ascertain the energy legislation and the gas directive were being upheld in the way that the transit fees are collected. The prosecution authorities confirmed that such an investigation was in progress. A NSSA spokesperson said the agency was not involved in the case in any capacity.
Source: Dnevnik (11.08.2008)

The Bulgarian energy ministry will decide whether Bulgargaz or Bultransgaz will collect the fees for the transiting of Russian natural gas through the country's territory, the chief of the nation's power regulator told Dnevnik on Tuesday. The State Energy and Water Regulatory Commission (SEWRC) has sent a letter to the energy ministry, insisting that the fees are pocketed by the transmission unit and that the trader Bulgargaz would not be a loss-maker at the prices that entered into force on July 1 when natural gas appreciated by 5% instead of the 19.6% proposed by Bulgargaz, said SEWRC chairman Konstantin Shushulov.
Source: Dnevnik (13.08.2008)

A working group set up by the Bulgarian economy ministry to investigate the handling of gas transit fees by Bulgargaz and Bulgartransgaz has recommended a regulatory penalty for the two companies for breaches of their respective licences, sources from the working group told Dnevnik. The check was ordered by energy minister Petar Dimitrov after Bulgartransgaz executive director Angel Semerdjiev asked the prosecution authorities to investigate if the agreement between trader company Bulgargaz and the transmission company on the collection and distribution of fees paid by Russia's Gazprom for the transiting of its gas via Bulgarian territory violated the energy law. The agreement puts the trader in charge of the collection of the fees instead of the transmission company as is required by the gas directive.
Source: Dnevnik (18.08.2008)

Energy companies under the control of Bulgargaz Bulgargaz will be the top company in the future Bulgarian Energy Holding SPJSC (BEH SPJSC). The rest of the state-owned companies to be included in the holding will be NEC, Nuclear Power Plant Kozloduy, TPP Maritsa East 2 and Mines Maritsa Iztok. The new company will be based on Bulgargaz as the name and basic line of business will be altered. BEH will remain a joint stock company, 100% state-owned. Capital shares of NEC, TPP Maritsa East 2 and Mines Maritsa Iztok will be transferred into BEH. Except for these companies, the holding will include also the existing Bulgargaz Holding subsidiaries – Bulgargaz - Sofia, Bulgartransgaz and Bulgartel. The new energy giant will have assets worth BGN 8.5 bln, earnings of about BGN 3.6 bln and 21 thous. employees.
Source: Standart (19.09.2008)

The state will provide BGN 300 million for the increase of the capital of the National Electric Company (NEK), which is part of the structure of the Bulgarian energy holding (BEH), created a month ago. The minister will vote on the increase of the holding's capital. It was registered through a change of the registration of "Bulgargaz holding", whose capital is 1 billion levs. BEH unites Matitza Åast Ìines, thermal-electric power station Maritza Åast 2, NEK, Bulgargaz, Bulgartransgaz and Bulgartel. With the BGN 300 million a resource is provided in the intermediate stage of the preparation of the "Belene" project until its financial completion in December 2009.
Source: news.bg (16.10.2008)

Top 50 Construction Companies Book 2.71 Bln Revenue The 50 biggest Bulgarian construction companies booked combined revenue of 2.71 bln. leva for 2007 data of the central register of construction companies shows. A total of 15 companies generated revenue of over 50 mln leva each, while the last company in the ranking (Valmex) booked 26.3 mln leva revenue. Glavbolgarstroy tops the ranking with 228.8 mln leva revenue, followed by Holding Road and Bulgartransgas, which posted 151.69 mln leva and 150 mln leva revenue. Balkanstroy, Trace Group Hold, Geotechmin and Planex booked over 100 mln leva revenue each for 2007. Rank Company Revenue (in '000 leva) 1 Glavbolgarstroy 228885 2 Holding Roads 151694 3 Bulgartransgaz 150053 4 Balkanstroy 124781 5 Trace Group Hold 117883 6 Geotechmin 109280 7 Planex 103185 8 PSI 93495 9 Filkab 88843 10 Balkani LK 72381 11 Sienit 62340 12 Midia 57628 13 Enemona 55990 14 Stroitelstvo i Vazstanoviavane Darzhavno Predpriatie 55662 15 Markan 52627 16 AT Engineering 47828 17 GBS Infrastrukturno Stroitelstvo 47591 18 Patni Stroeji 19 EMU 46622 20 Avtomagistrali Tcherno More 42490 21 Galchev Engineering Group 41991 22 Stroy-Consult 41627 23 Eurobuild 40035 24 Bulmix 97 38407 25 Ingstroy Sofia 35195 26 Minstroy Holding 34925 27 Patengineeringstroy-T 33674 28 Naftex Engineering 33469 29 VIK Varna 33434 30 Binder 32551 31 Arnaudov Construction Company 32344 32 MIKS-Construction 32020 33 AB AD 31567 34 GBS Varna 31177 35 Kred-G4 30980 36 Totema Engineering 30659 37 Agromah 30380 38 Energoremont Holding 30309 39 Patengineering 30136 40 Atomenergoremont 29552 41 Integrama 29433 42 Ingstroyengineering 29173 43 Patishta i Mostove 28536 44 Sofstroy 28139 45 SK-13 Holding 27865 46 Nikmi 27752 47 Consortium Elmontaji 27279 48 SBS Road Construction Company 27007 49 Road Construction Equipment JSC 26782 50 Valmex 26319 Total 2709535
Source: profit.bg (23.10.2008)

Bulgartransgas, a unit of state-owned Bulgargaz, is bracing up for a 10% to 15% drop in gas distribution revenue next year after key consumers cut down production capacities, executive director Angel Semerdjiev said. Fertiliser maker Agropolychim and steel mills Stomana Industry and Kremikovtzi are reducing output, and fertiliser producer Neochim may postpone the completion of a planned repair as the crisis grows deeper. Over 3 billion cu m of gas was distributed in Bulgaria last year. Flagging consumption will not hurt supplies quality as there are new consumers waiting to be hooked to the grid, said Semerdjiev.
Source: Dnevnik (24.11.2008)

Bulgarian Energy Holding, the structure created two months ago to consolidate key power generation assets, reported a 22% rise in nine-month profit revealing no financial details. BEH comprises the country’s biggest coal-fired power plant, the state-owned Maritsa East 2, coal miner Maritsa East, Kozloduy nuclear plant, state-run gas distributor Bulgargaz, Bulgartransgaz, telecom services provider Bulgartel, national power grid operator NEK and the Electricity System Operator. Kozloduy NPP was the best performer in the group. Bulgargaz landed at the other end of the scale with a loss of BGN 35.4 million for the nine months blaming the regulatory axe on its price hike proposal. At the same time, the gas company continued to pocket fees for the transit of Russian gas via Bulgaria at the expense of Bulgartransgaz in breach of the gas directive. The two companies are expected to sign an agreement on the fees by the end of the year.
Source: Dnevnik (03.12.2008)