15 November 2012

New Long-term Russian Gas Supply contract Signed with Bulgaria

Today in Sofia, in the presence of Boiko Borisov, Prime Minister of Bulgaria, Alexander Medvedev, Deputy Chairman of Gazprom Management Committee and Dimitr Gogov, Executive Director of Bulgargaz Ead, signed the new long-term contract on Russian natural gas supplies to Bulgaria.

The document stipulates the supply of 2.9 bcm of gas per annum until 2022 along the traditional transportation corridor and along the South Stream pipeline once it is commissioned.

In this document we have preserved the principle of long-term contracts with oil indexation and the take-or-pay obligation. This mechanism has set the conditions for gas consumption increase in Bulgaria,” Alexander Medvedev said.

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