site.btaPresident Plevneliev: British Interest in New Bulgarian Offshore Natural Gas Deposits Would Be Appreciated

President Plevneliev: British Interest in New Bulgarian Offshore Natural Gas Deposits Would Be Appreciated


Sofia, March 11 (BTA) - Interest by British companies in the new
natural gas deposits in the Bulgarian Black Sea maritime space
would be appreciated, said President Rosen Plevneliev during a
forum here on Wednesday with the British "GREAT Mega Mission"
business delegation.

The delegation includes over 50 British businesses in the
nuclear energy, oil and gas, transport infrastructure, and water
and environment sectors and will explore business opportunities
on offer in Bulgaria. The companies were in Bucharest on Monday
and arrived in Sofia on Wednesday.

Plevneliev noted the good cooperation with Britain in the energy
sector and natural gas extraction, among other economic
sectors. "We would be happy if there were more British
investments," he said, adding that the best conditions will be
provided regarding concessions which are just entering their
decisive phase.

In his speech, Plevneliev noted that Britain is an important
trade and economic partner of Bulgaria and British investors are
highly valued. Bilateral trade is registering sustainable
growth of ten per cent each year, reaching 860 million euro in
2014. Britain is the fifth largest investor in Bulgaria with
investments exceeding 2.1 billion euro.

The new Bulgarian Government has set serious goals and ambitions
for reforms, the President said. There is the Bulgaria 2020
national development programme, there are clear ambitions for
reforms in structural sectors, Bulgaria is strategically located
and a very attractive investment destination, offering a
perspective market.

Plevneliev noted the huge potential for attracting British
investments in priority sectors, such as innovations,
information technology and communications, construction, among
others.

British Charge d'Affaires to Bulgaria Sarah Riley wrote in her
blog, that on the Sofia leg of the Mega Mission, the UK
companies will be looking at potential investments and deals in
Bulgaria. But the Mega Mission is likewise a fantastic
opportunity for Bulgarian companies to look at what the UK can
offer in terms of expertise and experience in the four sectors.
The Mega Mission is one of the most significant British trade
delegations ever to visit Bulgaria, the diplomat said.

It is, first and foremost, about the scale of the opportunity,
she said, noting that billions of euros is expected to flow into
nuclear energy, oil and gas, transport infrastructure, and
water and environment ventures in Bulgaria in the coming years.

"For those of us who care about both the UK and Bulgaria, the
Mega Mission may be the best opportunity we may ever have to
bring representatives from the two business communities together
in one place so that they can start building the kind of
strong, sustainable relationships that will pave the way to
commercial success for both sides. It is an opportunity we
intend to maximise," Riley wrote.