Банкеръ Weekly



Cyril Gegov, Chief Executive Director of Bulgargas to the Banker weekly

What is the situation with the three year investment programme? We have heard of a serious lag behind, which has resulted into relations with Gasprom. Is that true?

Not at all. We are strictly following the schedule, which started last year and will be finalised by the end of 2001, said to the Banker weekly Cyril Gegov, the Bulgargas Chief Executive Director.

This year we have reported a considerable increase of the quanitities transported to neighbour countries - about 12.5BN cubic metres, which is an increase of 2BN cubic metres, compared to last year. By fulfilling our investment schedule we considerably improved the transport capacity of the pipeline. The increased quantity of transported gas is mainly for the account of Turkey, but we have transported bigger quantities to Greece and Macedonia, added he.

According to his information the scheduled construction of new pipeline - totally 110 km for the whole year - has been fulfilled by 100%.

Cyril Gegov also noted that compared to this year, the increase of transported quantities of gas will bring to Bulgaria 200MN cuic metres gas more in the form of transportation fee.

The transportation fee is defined in the contract signed between Bulgargas and Gasexport, which is valid till 2010. The contract specifies the annual quantities for export to Turkey, Greece and Macedonia. So the Bulgarian partner is aware of the facilities to be provided for the transportation. The fee is defined in accordance with the necessary investments for the development of the pipeline system and the term for its buying out.

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