Public Gas Corporation (DEPA) has sold natural gas to Bulgaria at a price 10 percent below the Bulgarian regulated rate and 16 percent below the rate offered to its major clients in Greece, thereby subsidizing industry in the neighboring country.
The Bulgarian market has always depended on Russian gas from Gazprom for 100 percent of its needs, and this marks Sofia’s first attempt to open up to new suppliers so as to make the most of the low liquefied natural gas (LNG) rates in the spot market and reduce energy costs for domestic consumers.
In this context Bulgargaz, DEPA’s Bulgarian counterpart, announced a tender for 1.5 million megawatt hours, while Bulgarian gas grid operator Bulgartransgaz released a tender for 150,000 MWh. DEPA won them both and will begin delivering quantities to Bulgargaz on Saturday up until the end of June and to Bulgartransgaz from May 1 to end-June.
Kathimerini has found out that DEPA sells natural gas to Bulgaria at 20.75 euros/MWh, while it charges its major clients in Greece (i.e. the electricity producers) 24.75 euros/MWh and energy-intensive industries are charged between 27 and 28 euros/MWh. DEPA refused to comment on Kathimerini’s data.