„Bulgargaz“ has sold thousands of surplus natural gas through the stock exchange. Most often this happened through the Balkan gas hub. This was revealed at a briefing by the prosecutor’s office. In 2021 alone and in January, more than 1,700 such deals were made.
In connection with the revelations over the weekend, the Ministry of Interior has initiated pre-trial proceedings and notified the state prosecution by fax. The investigation was launched only on the basis of the examination of a single witness. The prosecutor’s office did not reveal who he was.
Currently, the state prosecution is also questioning witnesses who are both current and former employees of „Bulgargaz“. Documents are also required, after which it will be assessed whether there is evidence of a crime. Experts will be appointed by the Energy and Water Regulatory Commission regarding the way in which the prices of natural gas were formed.
The prosecutor’s office explained:
“We can conclude that the subject of the crime concerns the sale of excess gas through both exchanges. One is the Balkan gas hub. Both are licensed by the Energy and Water Regulatory Commission, on an equal footing. There is no requirement to participate in only one. Before concluding the transaction, the buyer transfers the amount 100% in advance. That is, no cancellation or damage is possible. There is no such guarantee with the state exchange. The persons concluding the deals are from Bulgargaz. Transactions are anonymous. The seller and the buyer understand who is who when receiving the payment order. After concluding the deal, only both parties understand that they are part of this deal.”
In order to be able to sell surpluses, “Bulgargaz” must first meet the needs of the entire energy market in the country. The deals themselves are concluded by employees of the state company. The revenues from them generate a profit that reaches the state budget because it enters the assets of the Bulgarian Energy Holding.
The state prosecution was adamant that at the moment they could not say whether there was a crime or not, because the investigation is at a very early stage.
