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Bulgaria's Natural Gas Consumption, Output Grew in 2010 - Bulgargaz
Date: 10/08/2011
Bulgaria's Natural Gas Consumption, Output Grew in 2010 - Bulgargaz

Bulgaria's consumption of natural gas grew by 2% in 2010 compared with 2009, according to the newly released financial report of state company Bulgargaz.

The Bulgargaz report, which has been published in the Bulgarian Trade Registry, states that in 2010 the Bulgarian economy and households consumed a total of 2.53 billion cubic meters of natural gas compared with 2.48 billion cubic meters the previous year.

Bulgaria's output of natural gas, while occupying a negligible share of the domestic consumption, also grew tangibly in 2010, with the major producer, UK company Melrose Resources, providing a total of 54 million cubic meters to Bulgargaz.

Thus, Bulgaria's natural gas dependence on Russia's Gazprom actually decreased down to 97.8% from 99.6% in 2009.

In 2010, however, Bulgargaz imported natural gas at a price that was 12.8% higher on average than it did in 2009.

While the natural gas price for Bulgargaz decreased by 23.5% and 7% in the first and second quarters of 2010 respectively, it grew by 48% in the third quarter, and by 58% in the last quarter.

The financial report of Bulgargaz states that the company's financial condition is worsening because of the decision of the State Commission for Energy and Water Regulation (DKEVR).

Topic: Economy

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