Bulgaria, Government will provide a 409 million euros loan to Bulgargaz

, SEE Energy News

Bulgarian caretaker Prime Minister Galab Donev said that the Government will provide a 409 million euros loan to public gas supplier Bulgargaz in order to ensure the company’s financial stability ahead of the upcoming winter season.

The move is intended to ensure continuity of natural gas supply for the normal functioning of the economy and household heating, as well as to enable Bulgaria, as a EU Member State, to honor its commitments to ensure the security of energy deliveries in the current complicated international situation.

The Government’s decision ensures conditions to implement the state policy of ensuring the security of natural gas supplies for Bulgaria in the 2022-2023 winter in the context of a conflict between Russia and Ukraine.

The loan funds will be provided to Bulgargaz from the 2022 Energy Ministry budget and will be repaid by the gas supplier under the terms of a contract concluded between the company and the Ministry.