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Bulgargaz regional expansion and pricing shifts

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2026-10-16 05:11 UTC → 2026-10-16 05:21 UTC · added ~~removed~~

Bulgargaz EAD, Bulgaria’s state-owned gas company, has been expanding its regional commercial footprint while navigating domestic price volatility. In late September, the Serbian Energy Agency granted Bulgargaz a 10-year license to conduct wholesale natural gas supply in Serbia. This move aligns with the company’s strategy to increase cross-border trade across Central and South-Eastern Europe, adding to its existing licenses in Greece, Slovakia, Hungary, Romania, and Moldova. By mid-October, the company requested a 34% increase in natural gas prices for November through the Energy and Water Regulatory Commission (EWRC). Bulgargaz proposed a price of 59.08 EUR per megawatt-hour, up from the October tariff of 44.09 EUR per megawatt-hour. The company noted that while the hike is significant, it remains “30% lower than current European gas futures.” The proposed November price mix incorporates volumes from long-term contracts with Azerbaijan, the Alexandroupolis terminal, and supplies from Turkey via BOTAS, supplemented by withdrawals from the Chiren underground gas storage facility. The proposal also includes components to cover costs for storing quantities in the Chiren facility as part of an emergency action plan. Bulgargaz attributed market volatility to the war in Ukraine and the cessation of Gazprom deliveries to Bulgaria in April. Energy expert Martin Vladimirov suggests the increase is realistic due to European market pressures, including the crisis in the Persian Gulf, disrupted LNG supplies from Qatar, and low storage levels. While Azerbaijan's long-term contracts provide some protection by linking prices to oil, they cover only about half of Bulgaria's consumption. Experts warn that these rising costs could lead to a 20% increase in heating prices and impact industries such as fertilizer plants, glass factories, and greenhouses. The EWRC is expected to issue a final decision following a public discussion period.

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