Bosnia and Herzegovina: Lower gas price approved

, SEE Energy News

The new lower gas price in Bosnia and Herzegovina will be valid from 1 January 2021. The Government of the Federation of Bosnia and Herzegovina (FBiH) has approved lower wholesale gas price as proposed by the gas company BH-Gas.

In mid-November BH-Gas said that, based on the movement of the Russian price of natural gas, analysis of current parameters of the price of oil and oil derivatives and other elements that make up the price of natural gas, it has decided to lower wholesale gas price for the next year. Thus, the new wholesale price of natural gas for distribution companies will amount to 248.3 euros per 1,000 cubic meters, which is 8.5 % decrease compared to current price. Previously, BH-Gas reduced the wholesale price of natural gas in May. The price was reduced by 9.4 % to 271 euros per 1,000 cubic meters. The company said that this decrease is a result of the fall in global oil prices, as well as the downward trend in the price of natural gas supplied from Russia.