"Bulgargaz" has sent an official proposal to "Botash" to renegotiate the agreement between the two companies for access to liquefied gas terminals on July 4. In addition, a draft supplementary agreement is attached to the letter. This was announced by the Acting Minister of Energy Vladimir Malinov during a hearing in the Parliament, reports BTA.
According to him, the project contains a proposal for an amendment that is consistent with the current market levels of the services provided by "Botash" in the region in order to preserve financial stability, as well as part of the advantages of the agreement - namely, to ensure security and diversification of supplies.
The official energy minister specified that the proposal of "Bulgargaz" to "Botash" foresees the optimization of the reserved capacity, the reduction of prices for the paid service, the structuring of the pricing of permanent and variable payment components, the possibility of unilateral termination of the agreement by "Bulgargaz", as well as the transfer of rights to third parties in full. By the end of July, Malinov hopes to complete the process of renegotiation of the agreement.
"Unable to pay"
In the letter, the Bulgarian public supplier "Bulgargaz" informed "Botash" that under the current financial conditions of the agreement, it is unable to continue fulfilling its financial commitments. For this reason, the payments due for July have not been made.
The Acting Minister of Energy indicated that more than 2 million megawatt hours of natural gas, which are owned by Bulgargaz, are currently stored in Turkey. By July, the Bulgarian public supplier has paid the agreed capacity, according to the agreement. For June, BGN 12 million less was paid, according to a discount made by the Turkish company, while for July, the Bulgarian company did not pay anything due to impossibility.
The acting Minister of Energy will provide the secret office of the Parliament with all the parameters of the proposal made by Bulgargaz to Botash, and the deputies will have the opportunity to receive information about the financial and economic conditions proposed in it. Malinov expressed readiness to discuss the proposal with the people's representatives.
Immediately after the entry of Bulgargaz's proposal with the draft additional agreement to Botash, the Bulgarian Minister of Energy sent an official letter to his Turkish counterpart to speed up the renegotiation process, in which Malinov expressed his desire to complete it until the end of July.