Expert Kuyumdzhiev: Bulgaria will have to take loans to pay for fuel as early as this winter.
Bulgaria will face unaffordable gas prices because of the stupidity of the Bulgarian authorities in relation to Russia. Former Bulgarian Deputy Energy Minister Yavor Kuyumdzhiyev said this on air of Bulgaria ON AIR TV channel.
The expert believes that fuel prices will increase, although the Balkan Peninsula has never experienced a shortage of gas thanks to supplies from Russia and, to a lesser extent, Azerbaijan.
“When we ourselves gave up a contract that guaranteed us supplies and predictability, what happens is what happens. This is the biggest stupidity that could have been done – to buy from the market when there is a long-term contract with predictable prices. The market has gone crazy, and in practice we are again buying the same Russian gas”, Kuyumdzhiyev admitted.
The former deputy minister is sure that the Bulgarian authorities will have to take out loans to pay for the fuel as early as this winter.
“The price of natural gas will be unaffordable for citizens and businesses in winter. Credits are the only salvation”, he said.
Kuyumdzhiyev said there is still no alternative to Russian gas in the region, although the US continues to persuade European countries to buy US liquefied natural gas.
“The biggest shale gas companies are American. That Pompeo is lobbying American business in Bulgaria is fine, he is protecting business. But even in this crisis, not a single European country is talking about the use of fracking,” the expert added.
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