Bulgaria will renegotiate the price of the natural gas that will be imported from Azerbaijan as of October this year, the Executive Director of Bulgargaz Nikolay Pavlov said. The price of natural gas from Azerbaijan which was already negotiated is higher than the current price of the Russian gas which was reduced by Gazprom by 40% yesterday. That is why Bulgaria will seek to renegotiate the price of the natural gas from Azerbaijan and bind gas prices with the prices on the gas exchanges, Mr Pavlov added. Bulgaria’s Minister of Energy Temenuzhka Petkova said that each month from now on the price of natural gas will be compared with the gas prices in the gas hubs in Italy, Germany and France. Until now, the prices have depended on the value of the oil derivative only without taking into account the spot market.