Economy of Russia

President Rumen Radev described as shocking the price of natural gas for September after returning from an official visit to the UAE. Yesterday, the Commission for Energy and Water Regulation (EWRC) decided that it would rise the price by nearly 19% compared to August and make it BGN 353.21/Mwh.

Ravil Maganov was a close associate of one of Lukoil’s founders, Vagit Alekperov

Russian state-backed energy company Gazprom is ready to pay the Kremlin 2.5 billion rubles after posting record profits.

The company reported a net profit of 2.5 billion rubles for the first six months of this year. Oil and gas prices rose during that period, pushed up by supply concerns following Russia's invasion of Ukraine.

"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.

The Russian Economic Development Ministry unveiled on Tuesday the scenarios for the development of the Russian economy until 2030.

"The estimated price of natural gas will be around BGN 350 (EUR 179), which is an increase of around 17 percent compared to the price for August," said Denitsa Zlateva, executive director of Bulgargaz, after the meeting of the Commission for Energy and Water Regulation.

According to her, this is due to the increased stock market index.

The price of natural gas on the Dutch exchange TTF reached 341 euros per megawatt hour yesterday, and electricity supply contracts in Germany and France broke all records. Against this background, the Czech Presidency of the European Union announced that it is preparing an extraordinary meeting of energy ministers.

If "We Continue the Change" gets a chance to form a government after the elections on October 2, either Asen Vassilev or Kiril Petkov will be nominated as prime minister.

This was announced by the two in a joint interview with BNT. "We will decide together after the elections," said Kiril Petkov.

The price of electricity in Europe jumped by more than 25%, according to the prices of the European Electricity Exchange, Bloomberg reports. That's about 14 times the seasonal average over the past five years. The increase in prices is due to the concerns related to the shutdown of the Nord Stream.

The leader of GERB and ex-Prime Minister, Boyko Borissov, accused former PM Kiril Petkov and former deputy PM Asen Vassilev of deliberate actions and sabotaging the supplies of American liquefied gas in Bulgaria.

According to Borissov, Petkov's office did not sign the contract and did not reserve a delivery point for unloading the tankers.