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Russian Gas Transit Via Bulgaria Unchanged Despite New Tax


Russian natural gas flows via Bulgaria continue today despite the new tax on transit flows according to Montel.

  • Nominations for flows entering Bulgaria via the Turkstream pipeline system are in line with Friday around 32mcm/d today according to Entsog data.
  • Bulgaria has introduced a 10.20€/MWh excise tax on Russian gas transit starting today, impacting supplies to Serbia, Hungary and Austria.
  • It is unclear how many companies paid the additional tax, but Gazprom are still using the pipe but have had not paid according to a Montel source. Gazprom has long-term supply agreements with Hungary’s MVM for 3.5bcm/year via Serbia and an additional 1bcm/year via Austria.
  • Hungary’s EU Affairs Minister Janos Boka last week called on the European Commission to launch a probe into the tax which the country considers illegal and an energy security supply risk.

Source: Bloomberg

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