site.btaEnergy Regulator Head Expects No Gas Price Spikes in 2022 if Global Situation Persists

Unless something extraordinary happens on the global scene related to the war in Ukraine, and assuming the situation remains the same, natural gas prices for November and December will not increase, Energy and Water Regulatory Commission (EWRC) Chair Ivan Ivanov said here Thursday. Ivanov was among the speakers at a round table titled "The Green Transition - Investments in Technologies and Network Services".

According to Ivanov, the prices in November are even likely to drop.

The EWRC head pointed out that the October price dropped by 34%, which was due to two main factors: the October 1 launch of commercial operation of the Greece-Bulgaria gas interconnector, which brings cheaper Azeri gas to Bulgaria, and the dropping gas price on the main gas exchange in the Netherlands.

Ivanov said that gas storage facilities in the EU are almost 90% full. This rate in Bulgaria is 77%. Ivanov believes that the storage in Chiren here will be full by the start of the heating season. The transparent procedures for the purchasing LNG and piped gas are also factors in providing attractive prices from bidders.