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Bulgaria to Suspend Gas Transit Tax After No Russian Payments

NATURAL GAS

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.
Energy BulletsCommodities
Energy BulletsCommodities

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