State-owned gas supplier Bulgargaz ended 2025 with a net loss of BGN 267.2 million, with the company’s annual financial report highlighting the costly impact of unused capacity under its long-term agreement with Turkish state company Botas.
According to the company’s figures, payments related to capacity that was not used under the Botas agreement amounted to BGN 250.5 million during the year, becoming the main factor behind the company’s negative financial result.
The financial report shows that Bulgargaz remains under significant pressure due to a combination of unfavorable international contracts and growing unpaid obligations from Toplofikatsiya Sofia.
Financial results show deepening pressure
Bulgargaz recorded a loss of BGN 267.217 million in 2025, following another negative year in 2024, when the company reported a loss of BGN 315.889 million.
