site.btaEnough Natural Gas Secured for November, Bulgargaz Says

Bulgargaz has secured all necessary amounts of natural gas for its clients as a result of a competitive bidding procedure for the supply of liquefied natural gas (LNG) in November, the Bulgarian state-owned gas company said on Monday.

The first stage of the bidding involved shortlisting 10 out of 13 companies which had expressed an interest in the proposed deal. The shortlisted entities were asked to submit binding offers. Eight companies in Europe, Asia and the United States tabled such offers by the official deadline, Bulgargaz said.

The bid evaluators then selected two LNG suppliers which had booked regasification and storage slots at the Revithoussa LNG Terminal in Greece. The two selected suppliers are Mytilineos S.A. and DEPA Commercial S.A.

Highly competitive prices were achieved during the bidding procedure. They will be reflected in the natural gas price which Bulgargaz will propose for the Bulgarian market for November, the company said.

On September 28, Bulgargaz Executive Director Deniza Slateva said the company did not fear failing to secure the necessary amount of natural gas for November. The aim was to achieve a competitive price, she said. She expected that binding offers conforming to the requirements would be submitted by interested parties.