Up to 15% of the gas supplies in Bulgaria come from the Black Sea

“The gas deposits in the Black Sea - Kaliakra and Kavarna – account for some 10-15% of the annual gas consumption in Bulgaria,” Minister of Economy, Energy and Tourism Traicho Traikov said yesterday in the city of Varna. He explained to BTA that the exploitation of the third deposit - Kavarna East – would soon begin. The gas wells are being explored by the Scottish company Melrose Resources and are the only alternative to the imported Russian gas in Bulgaria. At present, however, the company is deprived of the right to explore for new gas deposits along the Black Sea coast north of Varna by the Energy Ministry. Since February, the Ministry and Melrose Resources are negotiating for an extension of the concession for exploration of the shelf.

Traikov reminded that a permit for gas exploration on the Southern Bulgarian Black Sea coast had been given in 2010 and voiced his hope that new gas fields would be found there, too.

“There may be gas for the next 300 years in the Dobrudja region if the initial explorations of the U.S. company Chevron prove to be true,” Traikov said a day earlier in Sofia. The company will explore the area around the town of Novi Pazar for shale gas. “According to current estimates, there are between 300 billion and 1 trillion cu m of gas there,” specified the Energy Minister. Chevron has won a tender in competition with its rival BNK Petroleum and is ready to pay €30 mln to our country for the right to explore the region over the coming years. A contract with Chevron will be signed within two weeks. The Minister added that a new procedure for shale gas exploration in Bulgaria west of Novi Pazar was underway. Last year, Direct Petroleum discovered deposits of this fuel in the region of Pleven. According to experts, however, the extraction of this unconventional fuel is much more expensive than the supplies from the Black Sea shelf.

“It is not clear yet when Bulgaria will sign a new contract for gas supplies with Russia,” added Traikov. According to him, a new contract could be signed when there is more clarity on the construction of the gas connections with the neighbouring countries. It is expected that the contract with Russia will not be a long-term one but will cover a period of 8 years. Currently, Bulgaria is supplied with natural gas by the companies Overgas, Wintershall and Gazprom Export, but our country intends to sign a contract only with the latter. Traikov explained that the negotiations on gas supplies with Russia were not easy. According to him, if the former government had had a more principle-based position in its talks with Gazprom, the raw material would have now been BGN 160 per each 1,000 cu m cheaper.

Traikov explained that the construction of the underwater section of the gas conduit between the towns of Russe and Giurgiu would begin in June and it should be ready in 2012. At the end of 2014, the gas connection with Greece must be completed and it is expected to transport to our country the agreed 1 billion cu m of gas from Azerbaijan. The gas pipeline between Komotini and Stara Zagora will be owned by the Bulgarian Energy Holding (BEH). The other participants in the project are the Greek DEPA and Italy’s Edison.

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