Novinite: Bulgaria to Seal Gas Contract with Russia by End of Summer

Delyan Dobrev, Minister of Economy, Energy and Tourism, has suggested that the new gas contract between Bulgaria and Russia should be signed by the end of the summer.

"We cannot afford to wait until the last moment because large-scale consumers of gas in the country need predictability," Dobrev said in a Tuesday interview for Capital Daily.

Dobrev noted that Bulgaria had concrete strategies for reducing gas prices such as making the tariffs dependent on spot market prices too and not only on prices of oil derivatives.

"There was a certain point at which it was more profitable to tie the price to oil derivatives, but at the moment it is just the other way round," the Energy Minister remarked.

He explained that Bulgaria would aim for maximum flexibility without entering into commitments spanning longer periods than necessary for getting access to alternatives.  MORE