Energoinvest's Reaction: TurkStream Gas is 25.5% Cheaper Overall

(Patria) - ENERGOINVEST D.D. sent a reaction to the article titled "ANALYSIS OF NUMBERS Switching to TurkStream Costs 12 Million More Than the Old Supply Route".

"We hereby reject in their entirety as completely arbitrary and incorrect the data and comparisons you provided in your above article, with which you completely misinformed the public about the costs of natural gas supply via the so-called TurkStream, thereby causing business damage to the company ENERGOINVEST DD, which is the only real and relevant address for the aforementioned.

It is necessary for you and the public to be informed that ENERGOINVEST has been the sole authorized supplier and importer of natural gas in FBiH for years and the only relevant address for natural gas supply contracts, natural gas prices, its transport costs to the BiH border, as well as gas supply alternatives and options.

We remind you that ENERGOINVEST D.D., through its official statements, informed the public about the difference in the costs of supplying natural gas via the so-called TurkStream compared to the previous supply route via Ukraine and Hungary. Through our conferences and statements, we clearly presented that natural gas delivered to the BiH border in Zvornik via TurkStream is 25.5% cheaper overall than gas supplied via the pipeline through Ukraine and Hungary.

We also clearly presented that after the ultimate insistence of the Russian supplier Gazprom, ENERGOINVEST D.D. accepted the supply via the so-called TurkStream due to a much more favorable commercial arrangement and lower transport costs via TurkStream, and thus a cheaper gas price for consumers in FBiH. We particularly emphasize that in all previous months from January to August 2021, this price difference of 25.5% in favor of the cheaper TurkStream has been maintained continuously, and any other presentation represents pure speculation and deception.

Given the nature and obligations from business contracts with the gas supplier, we invite you to come to ENERGOINVEST D.D. where we will allow you to view the original contracts and invoices that absolutely confirm the ENERGOINVEST D.D. statements made above.

What we can publicly present to the public, who should be informed about the amounts and savings involved in switching to TurkStream, is the table below of costs for the first three months of this year. Namely, due to the obstruction of the former management of BH Gas to switch to TurkStream as of January 1, 2021, FBiH paid a full USD 3,036,600.40 more for gas supply by remaining on the route through Ukraine and Hungary than gas would have been paid for by supplying via TurkStream.

As of April 1, 2021, ENERGOINVEST D.D. stopped this unreasonable behavior of BH Gas and the waste of FBiH consumers' money and switched to supply via the significantly cheaper TurkStream.
Regarding the relationship with the Hungarian transporter, an attempt at an amicable agreement or Energoinvest's lawsuit for overcharged transport costs remains," the reaction states.