Russian natural gas flows via Bulgaria continue today despite the new tax on transit flows according to Montel.

• Nominations for flows entering Bulgaria via the Turkstream pipeline system are in line with Friday around 32mcm/d today according to Entsog data.
• Bulgaria has introduced a 10.20€/MWh excise tax on Russian gas transit starting today, impacting supplies to Serbia, Hungary and Austria.
• It is unclear how many companies paid the additional tax, but Gazprom are still using the pipe but have had not paid according to a Montel source. Gazprom has long-term supply agreements with Hungary’s MVM for 3.5bcm/year via Serbia and an additional 1bcm/year via Austria.
• Hungary’s EU Affairs Minister Janos Boka last week called on the European Commission to launch a probe into the tax which the country considers illegal and an energy security supply risk.

Source: Bloomberg