Natural Gas Likely to Drop by Another 10 Per Cent in July

Sofia, March 30 (BTA) - The price of natural gas may decrease
anew in July, by about 10 per cent, after dropping by nearly 13
per cent in April, Bulgargas Executive Director Petyo Ivanov
told the Bulgarian National Radio on Monday. Ivanov said that if
oil prices and the dollar/leva exchange keep their current
levels, a decrease of up to 10 per cent is likely of the natural
gas price in the third quarter.

Ivannov said also that local extraction of natural gas has
decreased to 4 per cent, from 16 per cent.

Using own funds, Bulgargas will start to buy natural gas for the
Chiren storage facility, in quantity of about 280 million cu m.
Ivanov said that ways will be sought for other means of
financing of such purchases, including announcing a procedure
for a lending institution.

Ivanov said that the current obligations of heating power plants
to Bulgargas stand at 270 million leva, of which 190 million
leva are owed by the Sofia heating power plant.