site.btaBulgargaz CEO: Debts of Sofia Heating Utility Total BGN 800-Plus Mln, Debt Settlement Deal Likely by Day's End

The Sofia heating utility owes public gas supplier Bulgargaz over BGN 800 million and this past summer they even stopped repaying their current debt, Bulgargaz CEO Vesselin Sinabov told reporters on Thursday. He was approached to comment the news of the distraint of accounts of the Sofia heating utility by Bulgargaz.

He said that there is no risk to leave Sofia residents without central heating due to the distrained heating utility account.

"We hope to reach an agreement by the end of the day and have the distraint on the account lifted," Sinabov said in Alexandroupolis where he is visiting for the arrival of the first shipment of natural gas for Bulgaria at the LNG terminal.

The CEO of the Sofia heating utility, Petar Petrov, also spoke about a nearing debt deal with Bulgargaz earlier in the day.