Bulgaria Imposes Tax on Russian Gas Flows in Fresh Jolt to Market
- Bulgaria imposes levy on Russian gas piped across country
- European gas prices have surged amid global threats to flows
Though Bulgaria does not import gas from Russia for its own needs, it is a significant route for the much-diminished pipeline flows that Russia sends to Europe.
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Bulgaria imposed a tax on Russian natural gas, which is transited across its territory, leaving traders to weigh whether the move may spark a dispute with Moscow and fuel shippers amid an already volatile market.
A new bill, published Friday and coming into force immediately, introduces a charge of 20 Bulgarian lev ($10.76) per megawatt hour of Russian-origin gas. That is about 20% of the price of Europe’s benchmark gas traded in the regional hub of Amsterdam.