Bulgarian regulator okays 8.4% cut in Feb natgas price

In February, Bulgaria will receive natural gas from three different sources, including the entire contracted volumes of Caspian gas from Azerbaijan via the Greece-Bulgaria interconnector, the Energy and Water Regulatory Commission (EWRC) said in a statement on Thursday.

The quantity will cover 42% of the country's consumption this month and has contributed to the more favourable pricing.

Bulgargaz will also receive liquefied natural gas (LNG) for February through a contract with one regional trader and will make use of quantities injected in the underground gas storage facility Chiren.

The wholesale price of natural gas in Bulgaria in January was 77.60 levs per MWh after the regulator approved an 11.3% monthly cut last month.

The decline in the February natural gas price is lower than the 8.5% reduction forecast by the public supplier. The current price was formed after taking into account international gas market quotations up to January 31.

(1 euro = 1.95583 levs)