site.btaNatural Gas Likely to Drop by Another 10 Per Cent in July

Natural Gas Likely to Drop by Another 10 Per Cent in July

Sofia, March 30 (BTA) - The price of natural gas may decrease anew in July, by about 10 per cent, after dropping by nearly 13 per cent in April, Bulgargaz Executive Director Petyo Ivanov told the Bulgarian National Radio on Monday. Ivanov said that if oil prices and the dollar/leva exchange keep their current levels, a decrease of up to 10 per cent is likely of the natural gas price in the third quarter.

Ivannov said also that local extraction of natural gas has decreased to 4 per cent, from 16 per cent.

Using own funds, Bulgargaz will start to buy natural gas for the Chiren storage facility, in quantity of about 280 million cu m. Ivanov said that ways will be sought for other means of financing of such purchases, including announcing a procedure for a lending institution.

Ivanov said that the current obligations of heating power plants to Bulgargaz stand at 270 million leva, of which 190 million leva are owed by the Sofia heating power plant.