Client Alert
Bulgarian gas market – Gas release program
Following the amendments to the Bulgarian Energy Act aiming to ensure completion of the gas market liberalisation and enhance liquidity, on 15 October 2019 Bulgargaz submitted for approval to the Bulgarian energy regulatory body – EWRC, a draft Agreement for the implementation of a gas release program (GRP). The GRP imposes obligations on the Bulgarian incumbent Bulgargaz to release certain gas quantities by way of business-to-business auctions for a duration of five (5) years effective as of 1 December 2019.
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