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Bulgargaz proposes 57.7% large-sized industrial capacities reducing dependency on Russian energy by 2027 at
their operations or even shutting down.
the two-day informal meeting in Brussels.
hike in price of natural gas for Fertilisers producer Azomures, the largest EU leaders have abandoned plans to levy
sanctions on Russian gas and oil, a relief for
single gas consumer in Romania, was shut
April down last autumn and plans to resume Hungary, which is dependent on Russian
operations this spring, but this will depend
energy.
Bulgaria’s state-owned gas supplier Bulgargaz on the gas price and availability. Before the meeting, Hungary’s
is proposing a 57.7% hike of the natural premier made it clear it would not support
gas wholesale price for April to BGN179.36 sanctions extended to the energy sector.
(€91.7) per MWh, the country’s energy Slovenia to import gas from European Commission President has
regulator KEVR said in a statement on set a new target date for the EU to scale
March 14. African countries to reduce back the use of Russian energy. Speaking
Bulgargaz has said it would propose a at the informal summit of heads of state
price of BGN113.85 per MWh for April. dependence on Russian gas and government in Versailles, Commission
However, the spiking natural gas prices on President Ursula von der Leyen said that
international markets have worsened the Slovenia Infrastructure Minister Jernej by 2027 the EU is ready to provide energy
situation. Vrtovec said that the country plans to security without Russian oil and gas.
On March 11, Bulgargaz said it expects import natural gas from African countries, To ensure that the EU is ready for the next
the wholesale price of gas applicable for like Algeria and Morocco, via Italy to reduce winter season, gas storage facilities will be
May to increase to BGN157.73, considering its dependence on Russian gas. filled to 90% capacity by October.
the concurrent forecasts for the price Slovenia and other countries are looking The agreement in Versailles was good
components. for ways to lower dependence on Russian gas news for Hungary, which gets 85% of its
Bulgaria is almost completely dependent following Russian invasion of Ukraine which gas needs from Russia, and nine out of 10
on Russia for its gas imports, which comprise prompted harsh economic sanctions by the households use gas for cooking or heating.
nearly 80% of all imports. EU, the US and the UK against Moscow. “The most important issue for us has been
“My press office is in contact with settled favourably. There will be no sanctions
the Italian energy minister to organise a covering oil and gas, which means that
Romania can run for one meeting with Italian delegation to explore Hungary’s energy supplies will be guaranteed
in the coming period, Orban posted on
the possibilities for a larger import of
month without foreign gas, gas from North Africa,” Vrtovec said in a Facebook after the marathon meeting.
Last September, Hungary struck two
video clip posted by news agency STA on
Depogaz executive says its YouTube channel on March 11. long-term contract deals with Russia’s major
Vrtovec said he also talked with Croatian
gas company Gazprom, which provides for
Romania’s industry can operate at current Economy Minister Tomislav Coric about the deliveries of 4.5 bcm meters of gas via
level without natural gas from imports, using the possibility of importing gas from the pipelines in Serbia and Austria, bypassing
only own reserves and production, reported Krk liquefied natural gas (LNG) terminal in Ukraine.
Ziarul Financiar daily quoting officials from Croatia. The agreement is for 15 years and may
Depogaz, a subsidiary of state-controlled gas Imports through Italy and Croatia be reviewed after 10 years. In addition,
company Romgaz. would enable Slovenia to increase energy Budapest wants to increase gas deliveries
Only 43% of the demand is protected independence. through Serbia by 1 bcm per year, and this
by the special status of consumers — Vrtovec said that Slovenia is investing issue was brought up by Orban during his
households or critical industrial structures — in renewable energy sources and that many visit to Moscow in early February but no
while the rest of it can be restricted if needed. people are interested in installing solar agreement was reached.
“At the moment, Romania consumes panels on their rooftops. The government’s position is
about 40mn cubic metres per day… “The government should provide that Hungary condemns Russia’s actions in
Domestic production is almost 24mn cubic subsidies for these projects. Every house Ukraine and provides assistance to refugees,
metres per day and we can extract from in Slovenia has potential for solar panels,” but does not want to pay the price of the
warehouses another 16mn cubic metres per Vrtovec said. conflict in higher energy prices.
day. The warm weather also help us,” said Earlier this month, Vrtovec called on Keeping energy prices is low is a key
Vasile Carstea, general manager of Depogaz, the EU to impose an embargo on imports promise in Viktor Orban’s re-election
which manages over 90% of Romania’s of Russian oil and gas as soon as possible, campaign. He froze utility prices for retail
storage capacity. arguing that this is the only way to secure uses in 2013, which has helped him win two
As regards the weather, low temperatures peace in Ukraine. supermajority victories since. Nevertheless,
not only push up consumption, they also Slovenian Prime Minister Janez Jansa also taxpayers pay the price of state intervention.
diminish the capacity to extract gas from urged the EU to end its reliance on Russian State-utility giant MVM is expected to
warehouses. energy as soon as possible. incur a €1.6bn deficit for selling gas and
“I think that until April 1 we can sustain Slovenia’s reliance on Russian gas is 51%. electricity below market prices this year,
the pace of production and extraction,” Julia Kiraly, chief economic advisor o the
Carstea said. opposition alliance, told bne IntelliNews.
Beyond the weather conditions that help Hungary pleased that Russian “EU leaders listened to the French
Romania, there are other factors. president and German chancellor who had
Natural gas imports accounted for 30% gas and oil remain exempt talks with Putin. It cannot be ruled out that
of the domestic consumption in 2021, as the the conflict will drag on. We have decided
volume of imports increased by 70% y/y. from EU sanction list that Europe will also join ceasefire talks”,
But the volume of imports is expected to Orban said..
decrease in response to rising prices. Hungarian Prime Minister Viktor Orban
The high prices already resulted in some supported the EU’s plans to reduce

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