What is "overgas"

Overgas Inc. AD is the biggest private gas company in Bulgaria. It is controlled by Gazprom. Its executive director is Sasho Dontchev.

Overgas is owned by Gazprom (Gazprom 0.49%, Gazprom Export 49.51%) and the London-based DDI Holdings, Ltd. (50%).

In partnership with the British-based JKX Oil & Gas and with the Bulgaria-based Balkan Explorers the company search for oil and gas near the Provadia.

In May 2010, Overgas announced that it will not prolong a supply contract with state-owned Bulgargaz to provide one billion cubic meter of natural gas per year, and instead of this will deliver gas directly to consumers. In return, Bulgargaz claimed that Overgas gained over US$140 million in the 1998–2010 period from the difference in the selling price to Bulgargaz and purchase price from Gazprom. According to Bulgargaz, as a monopoly to import natural gas from Gazprom, Overgas does not have any actual competition on the Bulgarian market.