site.btaNatural Gas Extracted in Bulgaria Can Be 35% Cheaper than Imported Gas

Natural Gas Extracted in Bulgaria Can Be 35% Cheaper than Imported Gas

Sofia, April 23 (BTA) - Deputy Energy Minister Zhecho Stankov
said that natural gas extracted in Bulgaria can be 35 per cent
cheaper than imported gas, the Energy Ministry reported on
Thursday.

Speaking at the annual conference of the
Bulgaria-Belgium-Luxembourg Business Club, Stankov said: "Our
expectations are that with the prospecting and development of
deep-sea oil and gas reserves in the Black Sea, in the coming
years it will be possible for the gas price to be 35 per cent
lower compared with current supplies. Local extraction is
expected to largely meet demand in Bulgaria."

He said that promoting local production is the most efficient
way to reduce Bulgaria's dependence on imported energy
resources, which is one of the priorities of the government.

The Bulgaria-Belgium-Luxembourg Business Club brings together
over 80 Belgian investors active in various sectors of the
Bulgarian economy under the honorary chairmanship of Belgian
Ambassador to Bulgaria Anick Van Calster.

According to Stankov, the lower price of energy resources
ensures good prospects for business development in Bulgaria and
makes the local economy more competitive because in a number of
industries energy resources have a major impact on product
prices.

Stankov underlined the efforts of the Bulgarian government to
ensure energy security as part of the country's national
security. He highlighted a government proposal to build a gas
hub in Bulgaria, noting that the project has already been
designed.