Tuesday, November 07, 2006

Oil and Gas: Bulgaria ready to sign agreement with Russia's Gazprom

Local media reports that Bulgaria is ready to sign a long-term natural gas agreement with Russia's Gazprom by the end of the year. The agreement comes despite the fact that Bulgaria has an agreement on both gas supply and gas transit tariffs, through 2010.

Bulgaria's Economy and Energy Minister Roumen Ovcharov, said the move was needed to ensure stable supplies, even if at the cost of no diversification of energy sources.