site.btaFirst Shipment of 90 Mln Cu M of Liquefied Natural Gas for Bulgaria Arrives from US
NW 16:27:31 31-05-2019
LG1633NW.117
117 ECONOMY - LIQUEFIED NATURAL GAS - FIRST SHIPMENT FROM U.S.
First Shipment of 90 Mln Cu M
of Liquefied Natural Gas for Bulgaria
Arrives from US
Sofia, May 31 (BTA) Ц A ship carrying 90 million cu m of liquefied natural gas for Bulgaria from the US in Greece late Thursday night, Bulgarian Energy Minister Temenouzhka Petkova told journalists on Friday. The price of the fuel is competitive and is lower than that of the natural gas supplied so far.
"The LNG delivery was made possible thanks to an agreement between Bulgargaz and Dutch-registered company Kolmar concluded at competitive prices and marks a step forward in Bulgaria's efforts to diversify its gas sources and supply routes," Petkova said. These 90 million cu m of gas were produced by US company Cheniere Energy under an import agreement for the second quarter of 2019. In the third quarter Kolmar will ship approximately 50 million cu m of LNG produced by British Petroleum.
A Bulgargaz subsidiary that will be selling the fuel in Bulgaria is tasked with the liberalization of the natural gas market, Petkova added.
Kolmar, which will make the deliveries, has also expressed interest in signing a five-year gas delivery deal for 500 million cu m, to be traded on the platform which Bulgaria is currently developing and is expected to become operable in October and provide real liquidity.
"As of April 1, the capacity of the Koulata-Sidirokastro connection has been increased to 5 million cu m of natural gas, including from the Revithoussa LNG terminal," Bulgartransgaz EAD CEO Vladimir Malinov said.
"We are closely monitoring natural gas market fluctuations and found that we can import gas that is cheaper than the one from Russia," Bulgargaz CEO Nikolai Pavlov said. "We conducted an open and transparent bidding procedure and received three offers, all for prices lower than the one at which gas is currently purchased. At these prices, we obtained approximately 144 million cu m which are being compressed at the Chiren storage facility. Bulgarian gas users will feel the effects of the new delivery price next winter," Pavlov added.
"All contracts concluded by Bulgargaz for approximately 295 million cu m have produced a 15 million leva effect," Pavlov said without specifying the price under those contracts. "We are also seeing a downward adjustment of the dollar, which will enable us to ask the Energy and Water Regulatory Commission for a 0.22 per cent reduction of the natural gas price for the third quarter," the CEO said, adding that the proposal will be submitted on June 10. LI/BR
//
LG1633NW.117
117 ECONOMY - LIQUEFIED NATURAL GAS - FIRST SHIPMENT FROM U.S.
First Shipment of 90 Mln Cu M
of Liquefied Natural Gas for Bulgaria
Arrives from US
Sofia, May 31 (BTA) Ц A ship carrying 90 million cu m of liquefied natural gas for Bulgaria from the US in Greece late Thursday night, Bulgarian Energy Minister Temenouzhka Petkova told journalists on Friday. The price of the fuel is competitive and is lower than that of the natural gas supplied so far.
"The LNG delivery was made possible thanks to an agreement between Bulgargaz and Dutch-registered company Kolmar concluded at competitive prices and marks a step forward in Bulgaria's efforts to diversify its gas sources and supply routes," Petkova said. These 90 million cu m of gas were produced by US company Cheniere Energy under an import agreement for the second quarter of 2019. In the third quarter Kolmar will ship approximately 50 million cu m of LNG produced by British Petroleum.
A Bulgargaz subsidiary that will be selling the fuel in Bulgaria is tasked with the liberalization of the natural gas market, Petkova added.
Kolmar, which will make the deliveries, has also expressed interest in signing a five-year gas delivery deal for 500 million cu m, to be traded on the platform which Bulgaria is currently developing and is expected to become operable in October and provide real liquidity.
"As of April 1, the capacity of the Koulata-Sidirokastro connection has been increased to 5 million cu m of natural gas, including from the Revithoussa LNG terminal," Bulgartransgaz EAD CEO Vladimir Malinov said.
"We are closely monitoring natural gas market fluctuations and found that we can import gas that is cheaper than the one from Russia," Bulgargaz CEO Nikolai Pavlov said. "We conducted an open and transparent bidding procedure and received three offers, all for prices lower than the one at which gas is currently purchased. At these prices, we obtained approximately 144 million cu m which are being compressed at the Chiren storage facility. Bulgarian gas users will feel the effects of the new delivery price next winter," Pavlov added.
"All contracts concluded by Bulgargaz for approximately 295 million cu m have produced a 15 million leva effect," Pavlov said without specifying the price under those contracts. "We are also seeing a downward adjustment of the dollar, which will enable us to ask the Energy and Water Regulatory Commission for a 0.22 per cent reduction of the natural gas price for the third quarter," the CEO said, adding that the proposal will be submitted on June 10. LI/BR
//
news.modal.header
news.modal.text