The proposed price is over a quarter lower than the prices for January delivery on European gas hubs, Bulgargaz said in a statement on Monday. European prices currently stand around 139 euro ($146.51) per MWh, the company added.
At the beginning of December, the Energy and Water Regulatory Commission (EWRC) endorsed a 19% rise in the wholesale gas price for the current month to 146.09 levs per MWh.
Bulgargaz will lodge a final price request to the EWRC on January 1, 2023 after taking into account the values of price-forming components as of December 31, the company also said.
Bulgaria has reached agreements for sufficient supply of gas for the winter season and the diversification of sources will positively affect prices in the future, caretaker energy minister Rosen Hristov told private broadcaster bTV on Monday. Bulgaria will take deliveries of liquefied natural gas (LNG) not only via the Greek terminal at Revithoussa, but also via a terminal in Turkey and the Turkey can also supply Bulgaria with pipeline gas, Hristov added.
Currently, Bulgaria is also negotiating with Italy on potential on-demand LNG deliveries, but Greece and Turkey remain the most convenient locations for LNG tanker unloading and swap deals to facilitate the incremental delivery of contracted LNG volumes, Hristov said.
Bulgaria is currently adding in the mix gas injected in Chiren underground storage facility which was purchased at higher prices in August and September. The country is currently negotiating the cost of agreed additional gas deliveries, which could reduce prices if they are agreed below the prices of the injected gas.
According to Hristov, an additional factor for the possible increase in prices in the next months is the current disagreement between EU member states on the level of the proposed gas price cap, with the Netherlands pushing for 275 euro per MWh, while Bulgaria, along with another 15 EU states, insists on a maximum cap of 150 euro per MWh.
