BEH’s Head: If we find large gas deposits in the Black Sea, Bulgaria will be independent of supplies

“If we find large deposits of gas in the Khan Asparuh field in the Black Sea, all major players on the gas market will have to take into consideration the supplies on our territory,” Mihail Andonov, Executive Director of the Bulgarian Energy Holding (BEH) said on BNR on Sunday.

If the existence of industrial quantities of gas is proven in the Black Sea shelf, in some four or five years, Bulgaria will become independent of gas supply over the next 25-30 years. “Explorations will begin with the signing of the contract, so we hope for results within three or four years,” added Andonov.

In October 2011, a decision was made to open a procedure for issuing permits for prospecting and exploration for oil and gas in the 1-21 Khan Asparuh field. The oil giant Total won the tender. The contract is for five years within which the French company will invest more than BGN 1 bn in the exploration.

Asked about the prices of fuels, Andonov said these are rising worldwide. “Everything is interrelated and Bulgaria cannot remain an island and not be influenced by the prices on international markets. The Government is taking adequate steps for getting out of this situation. As of October 1, the price of gas might be reduced. What could be better than that,” Andonov asked rhetorically referring to the protocols signed with Gazprom, stipulating an 11% decrease of natural gas prices, at that, with a retroactive effect as of April 1, 2012.

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