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Monday, April 17, 2006

Gazprom and Bulgaria to agree on gas transit fee

RBC, 14.04.2006, Moscow 19:38:31. Gazprom's Deputy CEO Alexander Medvedev and Bulgarian Economy and Energy Minister Roumen Ovcharov discussed the matter of reviewing current terms of transit of Russian natural gas via Bulgaria, the gas concern's press service reported. The parties have reached an understanding to complete as soon as possible the talks to agree on a feasible transit fee and to extend the term of the current transit contract through 2020. The statement reads that the parties also agreed that there was a possibility to boost transit of Russian gas though Bulgaria and increase investment in gas and energy assets. Gazprom is presently Bulgaria's only gas exporter since 1974. The gas holding's exports to the republic amounted to 3.1bn cubic meters in 2005. Bulgaria also transits Russian natural gas to Turkey, Greece and Macedonia under a respective contract effective until 2010.

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