Prime Minister: EU Gas Ruling Against Bulgaria is a Heavy Blow

Prime Minister: EU Gas Ruling Against Bulgaria is a Heavy Blow
EU antitrust regulators tell Bulgaria it should sell its state-owned gas network operator Bulgartransgaz or face fines of up to $333.27 million, Bulgarian Prime Minister Boiko Borisov says.

Reuters

SOFIA, June 29 (Reuters) - EU antitrust regulators have told Bulgaria it should sell its state-owned gas network operator Bulgartransgaz or face fines of up to $333.27 million (300 million euros), Bulgarian Prime Minister Boiko Borisov said on Wednesday.

Speaking to reporters in Brussels, Borisov said such a sanction would be unacceptable to Bulgaria.

Last year the EU executive commission charged state-owned Bulgarian Energy Holding, the owner of Bulgartransgaz, with breaching EU antitrust rules by hindering competitors' access to key gas infrastructure in Bulgaria.

"When (EU Competition) Commissioner Margrethe Vestager comes and says that you need to sell Bulgartransgaz, for us this is a heavy political blow ... Otherwise an infringement procedure of up to 300 million euros follows," Borisov said in an audio file, sent by the government press office.

($1 = 0.9002 euros) (Reporting by Tsvetelia Tsolova, editing by Louise Heavens)

Copyright 2016 Thomson Reuters. Click for Restrictions.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Consultant | Jul. 4, 2016
I think Bulgaria should Bulexit.


Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
Sr Counsel - Litigation and Legal Technology
Expertise: Legal
Location: The Woodlands, TX
 
GIS Intern Job
Expertise: Cartography / Mapping|Landman|Modeling
Location: Eau Claire, WI
 
Mechanical Quality Assurance (QA) Specialist
Expertise: QA / QC / Inspection|Regulatory Compliance
Location: Anchorage, AK
 
search for more jobs

Brent Crude Oil : $54.33/BBL 0.81%
Light Crude Oil : $51.5/BBL 1.29%
Natural Gas : $3.75/MMBtu 1.35%
Updated in last 24 hours