Energy Minister Traycho Traykov announced on the BNR program “Sunday 150“ that “Bulgargaz“ is in de facto bankruptcy. The main reasons are the unfavorable market conditions, the loss of a significant market share, and difficult contractual relations.
The company is also burdened with social commitments, including the supply of natural gas to heating companies, which further complicates its financial balance.
The only reason the company has not been restructured or closed immediately is the fact that it is a party to the extremely favorable for Bulgaria contract for the import of Azerbaijani gas.
Traykov identified the mines “Maritsa Iztok“ and TPP “Maritsa Iztok 2“ as some of the most critical sectors in the state energy sector at the moment. Administrative oversight has been established, which threatened the payment of miners' salaries, but a solution has been found through intra-holding transfers within BEH.
Regarding the Recovery and Sustainability Plan, the document does not directly require the closure of energy facilities, but a reform in BEH is planned. A meeting is forthcoming with trade unions, representatives of the EC, and members of the cabinet to discuss measures to preserve employment and provide alternative careers for qualified personnel.