Domestic production of gas to ensure 30% of the consumption in 2012

“As of July 2012, our country will be able to produce one-third of the necessary quantity of natural gas. This will happen after the extraction of 1 billion cu m of natural gas per year begins near the village of Deventsi in the region of Pernik,” said Minister of Economy, Energy and Tourism Traicho Traikov. He explained that the capacity of the local deposit, discovered by Trans Atlantic Petroleum, is about 10-12 billion cu m. The company is expected to be granted a concession for gas extraction at the beginning of 2012 although it is not clear when a gas conduit of Bulgartransgaz will be built to the deposit. “The quantities to be extracted from there should be specified, too,” said Traikov. “The prices of gas, extracted in Bulgaria, are some 30-40% lower than those of the gas imported from Russia,” Traikov explained.

“Oil and gas prospecting will also be launched in a new site in the Black Sea - Asparouh. It is located 22,000 s km east of the city of Varna and investors have already shown interest in it. The domestic extraction and the option to extract shale gas are resources we can always use,” Traikov pointed out. The contract with the US Chevron Corp. for shale gas research in the region of Novi Pazar is almost ready, but the Ministry of Economy, Energy and Tourism has not specified a term for its signing. Traikov said that Chevron would bear full responsibility for eventual environmental damages.

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