Businesses rely on a 10% decrease of natural gas prices

“We hope for a 10% decrease in the price of gas. A reduction of the base quotations of black oil and gas oil has been achieved and, on that base, I expect a 10% lower price as of January 1, 2013,” Konstantin Stamenov, Chairman of the Bulgarian Federation of Industrial Energy Consumers, said on BNR on Monday. A similar forecast for natural gas prices was made on Saturday by Mihail Andonov, Head of the Bulgarian Energy Holding (BEH), on Darik radio. The Executive Director of the state-run Bulgargaz Dimitar Gogov was more cautious in his expectations and said that the price decrease for end users will reach 7.5%.

Stamenov specified on BNR that two-thirds of the consumption of natural gas in Bulgaria is for industrial purposes. He reminded that many industrial enterprises are facing another crisis like that of 2008. Some have even stopped operating. “We will reduce our losses so that we can start to overcome the crisis as of Q2 2013 or the second half of the year,” said Stamenov.

We have never known the details of the agreement for the supply of natural gas. Since there will be no intermediaries anymore, the interaction with the partner delivering Russian gas – Gazprom – will be easier. We are all glad that new agreements have been reached but this comes as a reminder that the price is not determined by the market but through talks and we should make great efforts to achieve a market price. We have the assurances of the Ministry of Economy, Energy and Tourism that will have an opportunity for liberalisation and we will be able to buy directly not only from Bulgargaz but also from other suppliers,” added Stamenov.

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