March 3, 2020 / 8:15 AM / 4 months ago

Bulgaria agrees 40% price cut of Russian gas imports

SOFIA, March 3 (Reuters) - Bulgaria has agreed 40% cut in the price of natural gas it imports under its long-term import contract with Russia, its dominant gas supplier, Prime Minister Boyko Borissov said on Tuesday.

The new price will be valid as of August and was achieved after Russia’s gas giant Gazprom agreed to link the price to benchmarks such as Western European gas market hubs.

Bulgaria imports 2.9 billion cubic metres per year from Russia under a long term contract valid through 2022. (Reporting by Tsvetelia Tsolova, editing by Louise Heavens)

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