Economy and Energy Minister Roumen Ovcharov and Speaker of Parliament Georgi Pirinski travelled to St Petersburg, where they attend the 10th International Economic Forum.

Ovcharov met his Russian counterpart Victor Khristenko and Alexander Medvedev, member of the management committee of energy company Gazprom, 24 Chassa reported.

The negotiations with Gazprom for changing transit gas agreement conditions were in progress and would end by the end of the summer, Ovcharov said.

Although Gazprom requested financial payment instead of barter to be introduced by the end of June, Ovcharov said that deadline was 'too optimistic'. In June Ovcharov will have another high-level meeting with Gazprom managers to speed up the negotiation process.

The Russian representatives at the forum requested changes to the international Energy Charter Treaty, regulating the energy trade of European countries.

Ovcharov said that Bulgaria was a charter member state and was satisfied with the present treaty. He added that the matter would be further discussed by the EU member states.