site.btaUPDATED EU to Negotiate Jointly Future Natural Gas Supplies - PM Petkov

The idea to purchase jointly natural gas, including from Russia, has come about as a plan, Prime Minister Kiril Petkov said here Friday evening, emerging from the two-day European Council meeting. 

"Participation in this mechanism is not mandatory, but many countries want to be included. This means that the European Commission will negotiate with Gazprom on our behalf," he said, adding that this is much different than having a small country, like Bulgaria, with small consumption, negotiate with a giant like Gazprom. 

Petkov noted that a ceiling on prices is planned, but the Commission will have to decide whether such restrictions will be put in place. "The fact that we will be able to negotiate jointly is a game changer," he said, adding that Bulgaria must definitely join these joint negotiations. 

Petkov noted that 75 per cent of Russian natural gas exports are in the EU. "We will have to negotiate on even terms in a completely different way. This was a huge victory for Bulgarian business," he said. 

The Bulgarian Prime Minister further said that the expected natural gas price drop, as a result of the negotiations, will also decrease inflation and the price of electricity. Bulgaria has managed to protect a large part of its interests, Petkov concluded.  

Petkov told journalists that EC President Ursula von der Leyen i expected to visit Bulgaria in the coming weeks for the signing of the Bulgarian economic recovery plan.