Baku. TurkicWorld:

Gas prices in Bulgaria for June have decreased by 15 percent compared to May, driven by the supply from Azerbaijan via the Interconnector Greece-Bulgaria (IGB), TurkicWorld reports.

The new price was proposed by Bulgargaz and approved by EWRC, the state energy regulator.

As such, the price of gas for end suppliers and licensed entities for the production and transmission of thermal energy is set at 65.82 leva per MWh ($36.2), 15 percent lower than in May.

EWRC notes that gas is supplied to Bulgaria from two main sources. The price mix for June includes the entire agreed volume of Azerbaijani natural gas delivered via the IGB in line with the existing long-term contract.

Gas from Azerbaijan covers 70.3 percent of the monthly consumption and is of crucial importance for achieving favorable prices for natural gas.

Furthermore, after a tender process, Bulgargaz has entered into a contract with traders for the supply of liquefied natural gas in June.

Natural gas transported via the interconnector since October 2022 covers over one-third of Bulgaria's needs in the winter season. The new infrastructure creates opportunities for the transportation of natural gas to other neighboring countries in the region, including Moldova and Ukraine, through the connection to the Trans-Balkan Gas Pipeline.