OREANDA-NEWS. Bulgarian Prime Minister Boyko Borisov announced that Sofia had agreed to reduce the price of gas imported from Russia by 40 %.

Thus, Russian corporation Gazprom agreed to tie the price of gas for Bulgaria to quotes on West European gas hubs, refusing to index according to oil prices in the contract, Reuters agency reports. Earlier, analysts predicted a decrease in the price of Russian gas for Bulgaria by more than 50 %, to 140 US dollars per 1 thousand cubic meters.

Borisov noted the role of diversification and competition in lowering gas prices. In October, Bulgaria will be able to receive up to 1 billion cubic meters per year from Azerbaijan through the TAP gas pipeline and the interconnector with Greece. In addition, Sofia will gain access to the global liquefied natural gas market through Greece and expects to import fuel from the United States, Qatar and Egypt.

Bulgarian Energy Minister Temenuzhka Petkova noted the important role that the European Commission played during negotiations with Gazprom.