Outgoing PM Petkov: We expect Bulgaria-Greece gas interconnector to be approved for use by the end of August

Having completed the work on the gas interconnector with Greece on 8 July, today we have already made significant progress in finalising the paperwork needed to make the gas link operational. The interconnector has Act 14 (first stage of control of constructions works), and the project company is committed to provide Act 15 (ascertaining the condition of the construction and its readiness to be put into operation) and Act 16 (the authorisation for use) within the next four weeks - by the end of August, Bulgaria’s outgoing Prime Minister Kiril Petkov said at a briefing in the Council of Ministers on July 29.

The gas price will drop further when we have the authorisation for use - Act 16. This will be felt by every Bulgarian citizen and will directly affect people's lives just when winter comes, he said.

"GERB's reluctance to implement this project was in the interest of Gazprom. They actually covertly worked for the interest of Gazprom. Our government has proved that this project can be completed in 6 months and if Act 16 is not reached next month, it will mean that we are back to the years when national interest was not the most important consideration. I believe this will not be the case," Petkov said.

Outgoing Energy Minister, Alexander Nikolov, said there would be a noticeable reduction in prices from November 1.

In response to the President's words that the outgoing government was leaving a crisis and chaos in the energy sector, Nikolov said he was ready for a debate to look at the production and financial situation of the companies.

Bulgaria is an exporter of electricity on a scale it has never reached before. We are balancing absolutely the whole region and we have for the first time international companies and investors with a declared interest of several hundred billion, he said.

As regards the proposal for an increase in the gas price by over 50%, he said that in Europe the increase in the past month was by over 90%.

Balancing with quantities and the fact that there is natural gas from Azerbaijan leads to the increase being 50%, not 90%, Nikolov said. For the next government, the formula for solving the problem will be easier - whether and in what form there should be compensation for the winter period.