The European Commission (EC) said in a statement that it has approved a state support scheme worth 400 million euros provided to natural gas supplier Bulgargaz.
The loan to Bulgargaz was necessary to ensure an uninterrupted supply of natural gas to Bulgaria amid surging energy prices on the global markets and after the halt of deliveries by Gazprom in April 2022, which had until then provided 90% of the total gas volumes to cover the country’s needs.
The EC said that the support scheme is in line with the provisions of the EU’s Temporary Crisis Framework adopted in 2022 to tackle serious economic challenges borne out of the war and was a necessary, appropriate and proportionate measure by the Bulgarian state.
The aid to Bulgargaz was granted by the Bulgarian Ministry of Energy in the form of a loan with subsidized interest rates.
