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Bulgaria gets 40% price cut on Russian natural gas imports

SOFIA, Bulgaria (AP) — Bulgaria has agreed on a 40% price cut for its imports of Russian natural gas under its long-term contract with Russia's state-owned energy company Gazprom. The new price, which is linked to the prices of continental hubs, is backdated to August 2019, Prime Minister Boyko Borissov said Tuesday.

Bulgaria imports 2.9 billion cubic meters of Russian natural gas under a contract valid through 2022. The Balkan country’s efforts to break its almost total dependence on gas from Russia are bearing fruit. Last year, it imported for the first time some 500 million cubic meters of gas from other suppliers, mainly liquefied natural gas from the United States.

Bulgaria is set to import a billion cubic meters from Azerbaijan via the Southern Gas Corridor after an a connector between Greece and Bulgaria is completed later this year.

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