Today the Gazprom Headquarters has hosted a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Plamen Grozdanov, Plenipotentiary Ambassador of the Republic of Bulgaria to Russia.

The parties discussed the prospects for further Russian-Bulgarian cooperation development in the oil and gas sector. Particularly, the parties envisaged issues on switching to market terms for Russian gas transit fee payments via the territory of Bulgaria to the third countries as well as prospects of Gazprom’s participation in Bulgaria’s energy sector development.

Reference:

Russia has been exporting gas to Bulgaria since 1974. In 2005 gas supply volume reached 3.1 bcm. At present Gazprom is the only gas supplier to Bulgaria.

Gazprom transports gas to Turkey, Greece and Macedonia via the territory of Bulgaria.

Gazprom Export and Bulgargaz signed the Transit Contract up to 2010 based on the Agreement signed of April 27, 1998.

On March 2, 2003 Gazprom and Bulgargaz signed the Memorandum for further cooperation development in the Russian gas supply and transit sector. The Memorandum stipulates usage of Bulgarian transit pipelines for Greece and Macedonia in terms of gas supply to consumers of South-Western Bulgaria.

Gas distribution networks development in Bulgaria and natural gas supply to the final consumers are the prospective directions of mutually beneficial cooperation between Russian and Bulgaria. Russian-Bulgarian joint venture Overgas Inc. AD with 50 per cent stake of Gazprom has a great experience in providing such business activities. Overgas Inc. AD holds a stake in 32 trading companies as well as majority interest in 26 gas distribution companies which have 56 licenses for natural gas distribution and supply to the final consumers. The company reached 73.8 per cent stake in Bulgaria’s gas distribution sector in 2005.