Gazprom announces new long-term contract signed for Russian gas supplies to Bulgaria

11/19/2012

Gazprom announces new long-term contract signed for Russian gas supplies to Bulgaria

MOSCOW -- In Sofia, Bulgaria, in the presence of Bulgarian Prime Minister Boyko Boriso,v a new long-term contract for Russian natural gas  supplies to Bulgaria was signed by Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee, Director General of Gazprom Export and Dimitar Gogov, Executive Director of Bulgargaz.

The document envisages annual gas supplies through 2022 in the amount of up to 2.9 billion cubic meters via the traditional gas transmission corridor, and once the South Stream gas pipeline is commissioned – via this new gas supply route.

“In this document we have preserved the principle of long-term contracts pegging to oil products and the take-or-pay obligation. This mechanism made it possible to create conditions for boosting gas consumption in Bulgaria,” Alexander Medvedev said.

 

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