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Gazprom offers lower gas prices to Bulgaria until end of 2012

Gazprom has proposed cutting prices 5-7 percent on supplies to Bulgaria until the end of 2012, the Russian government said on Saturday ahead of Prime Minister Vladimir Putin's visit to Sofia

Gazprom offers lower gas prices to Bulgaria until end of 2012 Gazprom offers lower gas prices to Bulgaria until end of 2012

"As gas costs have been rising lately, Gazprom Export has formulated a package offer on the price of gas supplies to Bulgaria, which envisages cutting prices 5-7 percent until the end of 2012," government documents obtained by RIA Novosti news agency said.

Concrete parameters and favorable prices were fixed in a protocol signed between Gazprom Export and Bulgaria's gas monopoly Bulgargaz. The companies also agreed not to allow intermediaries in their trade from 2013.

"It was agreed that Gazprom Export and Bulgargaz will sign a direct long-term supply contract, which will guarantee Bulgarian clients' demand for natural gas provided from Russia under conditions which are not worse than those which could be provided to any customer by the same supply point by June 30, 2011," the protocol said.

In 2006, Gazprom Export agreed with Bulgargaz to increase the volume of gas transit to 22-23 billion cubic meters from 15.5 bcm by 2030.

Source : RIA Novosti