November 02, 2022 [See News] – Public gas supplier Bulgargaz said that it has selected DEPA Commercial, a unit of Greece’s Public Gas Corporation, and industrial and energy conglomerate Mytilineos to deliver liquefied natural gas (LNG) to Bulgaria in November.
The two Greek companies were among thirteen initial bidders in an auction, of which ten were invited to submit binding offers, Bulgargaz said in a statement on Monday.
As many as eight companies from Europe, the US and Asia lodged final offers for a total LNG amount of 1,500,000 MWh before the expiry of the October 3 deadline.
DEPA Commercial and Mytilineos have secured storage and regasification slots at Greece’s sole operating LNG terminal at Revithoussa, according to the statement.
The auction process ensured exceptionally competitive natural gas prices which will be reflected in the price proposal to the Bulgarian energy regulator for the month of November, Bulgargaz added.
Bulgaria has been working to wean itself off Russian gas since late April when supplier Gazprom, which used to cover 80% of Bulgaria’s gas needs, cut off deliveries.
Bulgargaz launched a bundle of LNG auctions last month, designed to ensure supply over the coming heating season, next year and over the 2024-2034 period. The company is also seeking bids for the delivery of 2,000,000 MWh of LNG for December, with final offers due on October 13.
Imports of additional quantities of LNG to Bulgaria, as well as pipeline-delivered natural gas, were made possible by the Greece-Bulgaria gas interconnector, which began operations on October 1.
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