Bulgaria, Bulgargaz estimates 32 % wholesale gas price drop in October

, SEE Energy News

CEO of state-owned gas supplier Bulgargaz Deniza Slateva said that the 32 % wholesale gas price drop is expected for October, which will se gas prices drop to around 122 euros/MWh.

According to Slateva, the main reason for the drop is the imminent launch of commercial operation of Greece-Bulgaria gas interconnection, which will bring larger quantities of cheaper Azeri natural gas to the country.

She added that recent hike in gas prices on the global market will affect the price for November, assuring that Bulgaria will have enough gas for the heating season, adding that there is great interest for recently launched liquefied natural gas (LNG) supply tender, both short and long-term.

In early September, Bulgargaz said that it expects 30 % gas price drop in October. It will submit its final request for the price applicable for October on 1 October. Bulgarian Commission for Energy and Water Regulation (KEVR) has the final say on the proposed monthly changes in the wholesale price, at which state-owned Bulgargaz sells natural gas to end-suppliers and customers directly connected to its transmission network.