Minister Hristov explained the need for short-term funding with the higher price of gas
Caretaker Energy Minister Rossen Hristov held a working meeting to look into ways to secure turnover capital for public natural gas supplier Bulgargaz, the Energy Ministry said. The meeting was attended by Innovations and Growth Minister Alexander Pulev and the leaderships of the Bulgarian Energy Holding and Bulgargaz.
Minister Hristov explained the need for short-term funding with the higher price of gas and the changed terms of payment for gas supplies in recent months most of which require advance payments. Challenges to collecting outstanding payments by the company were at issue too, the Ministry said.
Concrete steps were mapped out to resolve the liquidity crisis in Bulgargaz and the overall financing of the company, the press release says.