Bulgarian Energy Holding

During debates on a draft decision concerning the Bulgarian Energy Holding, Minister of Finance Asen Vassilev announced that Bulgaria is on the brink of entering the Eurozone as it meets the inflation criterion.

The Bulgarian National Assembly passed a resolution, greenlighting the potential takeover of liabilities amounting to BGN 1.6 billion from Toplofikacia Sofia, the primary district heating company in the capital city. These outstanding debts are owed to both the Bulgarian Energy Holding and state-owned gas supplier Bulgargaz.

GERB has received assurances from the leaders of "We Continue the Change" that there will be a rotation of the cabinet. This happened at the last leadership meeting between the parties, GERB leader Boyko Borissov told journalists in the parliament:

The Council of Ministers today discusses the proposal of candidates for European Commissioner. Two candidacies were presented, an opportunity provided in Ursula von der Leyen's letter. The two candidates are Daniel Laurer and Iliana Ivanova. Prime Minister Nikolay Denkov told the media after the extraordinary meeting of the government.

All necessary quantities of natural gas for the operation of "Toplofikatsia Sofia" (Heating Systems Sofia) will be provided. A contract has already been signed between the district heating company and Bulgargaz.

This became clear after a meeting between the Acting Minister of Energy Rosen Hristov and the Chairman of the Sofia Municipal Council Georgi Georgiev.

"Toplofikatsia Sofia (Heating Systems Sofia) owes BGN 399 million to Bulgargaz," Denitsa Zlateva, executive director of Bulgargaz, announced on BNT.

She reminded that "Bulgargaz" cannot by law stop the supply of gas to heating companies and will seek new loans from the Ministry of Energy.

"Bulgaria did not make the right decision regarding the old contract with Gazprom. There is no way to sign a new contract. Every step is a big problem. We are going to arbitration, most likely."

There is a compelling offer from the "Cheniere" company for the delivery of seven carloads of liquefied gas, the former Minister of Energy, Alexander Nikolov, was categorical.

In his words, for these seven tankers - the offer from the supplier is engaging.

However, Nikolov explained that it is the right of the payer and the recipient whether to accept it or not.

Today, Bulgargaz received a notification that natural gas supplies from Gazprom Export will be suspended as of April 27.

"The Bulgarian side has fully fulfilled its obligations and has made all payments required under this agreement, in a timely manner, strictly and in accordance with its clauses," the energy ministry said tonight.

The department also states:

The entire management of Bulgargaz has been replaced following a decision by the Bulgarian Energy Holding, BNR reports.

Lyudmil Yotsov has been elected executive director of the company - in place of Nikolay Pavlov, according to a protocol of BEH, published in the Commercial Register.