Dnevnik quoted Mr Stoyan Tsvetanov deputy executive director of Toplofikatsia Sofia as saying that Sofia's district heating utility will repay around BGL 90 million to the country's gas monopoly Bulgargaz by February 10th 2011.

The decision was taken at a meeting between the capital's mayor Mr Yordanka Fandakova, Bulgargaz' executive head Mr Dimitar Gogov and Mr Tsvetanov.

The sum accounts for 90% of the utility's liabilities to the gas monopoly as of December 24th 2010.

According to Mr Tsvetanov, the money will be secured via power sales and debt collection.

Toplofikatsia Sofia currently owes around BGL 100 million to Bulgargaz for gas supplies, as well as some BGL 500 million in deferred liabilities.

(Sourced from Dnevnik)