site.btaNatgas Price Set to Fall by 6% in February

In a price change application submitted to the Energy and Water Regulatory Commission, Bulgargaz projects a natural gas price of BGN 73/MWh for February, which is nearly 6% lower than the price for January, the Bulgarian National Radio reported on Sunday.

The projected price is stated exclusive of the cost of access, transmission, excise duty and value added tax. 

The quantities of natural gas delivered under a long-term agreement with Azerbaijan and liquefied natural gas purchased at auctions will be factored in the February price. Quantities from Chiren are to be used as well, even though a withdrawal and injection plan for the underground gas storage facility in 2024 has yet to be coordinated.

Bulgargaz's projections of a 6% price decrease are current by January 10 and may be revised by February 1, when the company will submit its final price proposal.

The conflict in the Red Sea area will now be added to the price-influencing factors, considering that part of the LNG-carrying tankers have started to avoid this route back since the end of 2023, which will likely delay and increase the cost of supplies.