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Free AccessBulgaria to Suspend Gas Transit Tax After No Russian Payments
The recent tax on transit gas flows through Bulgaria has been suspended after failing to collect any Russian payments according to Montel sources.
- The suspension of the excise tax on transit gas of 10.2€/MWh agreed in October and introduced in mid November could be approved by parliament today. “Everyone paid the tax, except for the Russians,” said the source with Russian payment arrears estimated at €138m.
- The suspension will be effective retrospectively, with a refund to any who paid the tax.
- Bulgaria would now aim for the multilateral introduction of a tax on Russian pipeline shipments with other European countries according to politician Kiril Petkov.
- A disruption to transit flows would affect supplies to Serbia, Hungary and Austria with the largest long term supply contract between Gazprom and Hungary’s MVM.
To read the full story
Sign up now for free trial access to this content.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.