Bulgaria to cover one-sixth of its annual natural gas demand by domestic output

“After the Deventsi gas deposit was put in operation at the end of last year and the extraction from the gas fields of Koynare and Kavarna East increased, in 2014, Bulgaria, will cover one-sixth of its annual natural gas needs of about 3 billion cu m by domestic output, Minister of Economy, Energy and Tourism Delian Dobrev said at a seminar on natural resources, held on Friday and Saturday in Velingrad.

He explained that in 2012, domestic gas fields covered approximately 13% of the total consumption in the country. The output of natural gas was about 490 million cu m last year and Bulgaria’s total consumption amounted to 3 billion cu m,” specified Dobrev.

During the seminar, Dobrev reported BGN 186 mln in revenues from concessions for 2012, compared to BGN 62 mln for 2011 and BGN 40 mln for 2010. The increase in the quotations of gold on the London Stock Exchange had a significant contribution to the higher revenues from concessions to the Treasury because the price of gold is decisive for determining the concession fee paid to the State for the extracted gold.

According to Dobrev, more than half of the growth in the revenues from concessions, however, is due to the BGN 96 mln bonus, paid by the consortium between Total, OMV and Repsol for the licence it has been granted for oil and gas exploration in the Khan Asparouh field in the Black Sea.

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