EC Approves Extension of Funds for Natural Gas Hub in Bulgaria The European Commission and Member Countries Friday agreed on the proposal to invest 444 million euros in key European energy infrastructure projects, including the one known as Balkan Gas Hub in Bulgaria. The EC approved the spending of up to 920,500 euros for a study into the possibility for a gas distribution hub in Bulgaria. The money will be received by Bulgartransgas EAD, which may also receive up to 182,000 euros to clarify the needs of updating the gas transmission system around Vulchi Dol, Varna region (on the black Sea). The 18 electricity, smart grids and gas projects selected to receive funding will contribute to achieving the Energy Union's goals by connecting European energy networks, increasing security of energy supply, and contributing to the sustainable development by integrating renewable energy sources across the EU. Of the 18 projects, seven are in the electricity sector (EU support of 176 million euros), ten in the gas sector (EU support of 228 million euros) and one for smart grid (EU support of 40 million euros). Five of all these projects are related to construction activities worth 350 million euros and 13 are for surveys worth a total of 94 million euros.
Source: Dnevnik (20.02.2017)

Honeywell Bulgaria EOOD, the Bulgarian subsidiary of German industrial company Honeywell, has found a way to cope with the shortage of qualified engineers. It invests in training staff not only as students of technical universities, but also after graduation. According to Krassimir Stanchev, account manager for Bulgaria, the number of employees who work in the company is 162, most of them highly qualified engineers. Tihomir Toshkov, director for the Caspian region, said that the company has developed and implemented successful and effective solutions for companies such as Maritsa Iztok 2, Lukoil Bulgaria, TPP Bobov Dol, Neochim, Agropolychim, Deven, Solvay Sodi, Bulgartransgas, Overgas Networks, Lukoil Bulgaria, etc. He added that the total export turnover of the regional center for system solutions for 2016 amounted to USD 71 million.
Source: Other (03.04.2017)

Sofia Prepares Statement on Gazprom’s Obligations Minister of Energy Nikolay Pavlov informs that at the moment the Bulgarian state – owned companies Bulgarian Energy Holding, Bulgargaz and Bulgartransgaz are working hard on the preparation of detailed analyses of the proposals for commitments, submitted by Gazprom at the EC, according to BNR. Today representatives of the ministry and the three energy companies will take part in a discussion of the topic at an international gas forum in Warsaw. On 13 March 2017 the EC invited all interested member – states to present within 7 weeks statements on the commitments, offered by Gazprom, sent as a response to the EC concerns about the lack of competition on Central and South-East Europe’s gas markets. The anti-monopoly court case of the EC is related with the gas markets of 8 EU member-states-Bulgaria, the Czech Republic, Estonia, Latvia, Lithuania, Poland, Hungary and Slovakia.
Source: Standart (21.04.2017)

Bulgarian Prosecution Raids Energy Watchdog on Malfeasance Accusations The Office of Bulgaria’s Prosecutor General announced on Monday it has raided the headquarters of the Energy and Water Regulatory Commission (EWRC) on suspicion on malfeasance. An investigation will be launched today, aiming to find out whether the energy watchdog fulfilled its lawful duties of controlling natural gas distribution companies regarding investments pledged in their business plans. The prosecution said it will also look into a merger of companies in Sofiagas, later renamed to Overgas Mrezhi. There are suspicions that the EWRC helped keep natural gas prices at artificially high levels. The prosecution will also investigate a claim by privately held gas supplier Overgas Inc that state-run gas transport grid operator refused it access to the grid and Bulgaria’s sole underground gas storage at Chiren. The prosecution considers that the energy watchdog did not react accordingly which could have contributed to the launch of an infringement procedure by the European Commission against state-owned Bulgartransgaz and Bulgargaz. Mr. Sasho Donchev, CEO of Overgas, came under scrutiny last week, when he alleged Prosecutor General Sotir Tsatsarov pressured him to abandon support for the political formation 'Yes,Bulgaria' ('Da, Bulgaria') Last but not least, with the help of the National Security the prosecution said it will look into the latest pricing decisions of the EWRC regarding natural gas, district heating, and water, the latter only in Sofia. Bulgaria's National Security Agency has already seized paperwork from the EWRC.
Source: 3e-news (25.04.2017)

Bulgaria to seek annual renegotiation of Gazprom gas prices Bulgaria will ask for an annual renegotiation of the price of natural gas, which the country buys from Gazprom, as part of its position on the Russian gas giant’s commitments submitted to the European Commission, caretaker energy minister Nikolai Pavlov said on Thursday. “We want gas prices to be renegotiated on an annual basis, while during the first two years the prices should be renegotiated each six months,” Pavlov said in an interview with public radio broadcaster BNR. Gazprom’s commitments envisage that the prices will be renegotiated once every two years, Pavlov added. The current procedure concerns the overall framework, rather than changes to the price calculation methods, the energy minister explained. On Monday, Bulgaria said it will send a request to the European Commission to seek additional information on the commitments submitted by Gazprom. Gazprom is the dominant gas supplier to a number of Central and Eastern European countries, including Bulgaria. In April 2015, the Commission sent a statement of objections expressing its preliminary view that Gazprom had been breaking EU antitrust rules by pursuing an overall strategy to partition Central and Eastern European gas markets. Last month, the European Commission invited comments from all interested parties on the commitments submitted by Gazprom, noting that they would enable cross-border gas flows at competitive prices and help to better integrate gas markets in the region. Gazprom's commitments ensure that restrictions to re-sell gas cross-border are removed once and for all and facilitating such cross-border flow of gas in Central and Eastern European gas markets; gas prices in Central and Eastern Europe reflect competitive price benchmarks; and Gazprom cannot act on any advantages concerning gas infrastructure, which it obtained from customers by having leveraged its market position in gas supply, the Commission also said back then.
Source: Sega (28.04.2017)

Bulgaria backs proposed EU antimonopoly settlement with Gazprom Bulgaria's caretaker government approved the position of the European Commission on a possible deal with Gazprom to settle the antitrust dispute on the Russian gas giant's practices in Central and Eastern Europe. "The interested Bulgarian companies, including the Bulgarian Energy Holding, Bulgargaz and Bulgartransgaz, are in constant contact with the European Commission for the purpose of receiving further information," the government said. The government also said it needs additional information about the option that could allow Gazprom to change the point of delivering gas to the Bulgarian border. "With regard to the security of gas supplies, it is important for Bulgaria that changes to the delivery points be discussed only after a thorough analysis as to whether guarantees exist regarding the volumes and routes of gas supplies as well as the transit fees," the government said. It added that ensuring direct gas supplies across the Black Sea to Bulgaria and Southeast European countries would contribute to the political and economic stability of the region.
Source: Darik Radio (04.05.2017)

Gazprom Head Miller, Bulgarian Energy Minister Petkova Sign Road Map on Development of Gas Transmission Infrastructure in Bulgaria Bulgarian Energy Minister Temenouzhka Petkova met Saturday with Alexey Miller, Chairman of the Management Committee of Russian energy company Gazprom, Petkova's Ministry said in a press release. The meeting took place at the sidelines of the St Petersburg International Economic Forum. The two officials signed a Road Map according to which the sides will study the issue of developing the gas transmission infrastructure in Bulgaria, taking into account the EU rules. The participants in the meeting also discussed the prospects for developing the cooperation in the gas sector. It was noted that the quantities of Russian natural gas exported to Bulgaria increase every year. The quantities in January-May 2017 were by 14.5 per cent higher than the like period in 2016. The sides also noted the productive cooperation between Bulgartransgas and Gazprom. Special attention was paid to the organization of the natural gas deliveries to Bulgaria in the long term, to the implementation of the Turkish Stream gas pipeline project, and to increasing the security of the gas deliveries to consumers in Southern and Southeast Europe, Bulgaria including. Petkova informed her host about the development and investments in the gas transmission system in Bulgaria and the idea about the Bulgarian gas hub.
Source: Monitor (05.06.2017)

Bulgartransgaz Announces New Framework Contract with Day-Ahead, Intraday Trading in Mind Bulgarian gas grid operator Bulgartransgaz has announced for public consultation a new Framework Transport Contract for access and transport of gas via its network, and the adjacent General Terms and Conditions. These are poised to enter into force as of October 1 2017. Bulgartransgaz said the new Framework Contract and the ToU would make it easier for gas grid users to book day-ahead and intraday capacity products without the need for them to have booked longer products beforehand in their portfolio. All capacity products within the gas year will be used by network users after their booking on the RBP, and there will be no need of further signing of additional documents. Another advantage of the Framework Contract is the clear regulation of the procedure of use of Bulgartransgaz EAD Commercial Dispatching Platform (CDP) and the submission of trade notifications at the Virtual Commercial Point (VTP) and the submission of the respective nominations for transmission to/from the VTP to the entry-exit points of the gas transmission system. /publics.bg
Source: Other (13.07.2017)

Bulgarian, Greek, Romanian Gas Companies Sign Memorandum Related to Vertical Gas Corridor Representatives of gas companies Bulgartransgaz EAD (Bulgaria), ICBG AD (Bulgaria), DESFA S.A. (Greece), FGSZ Ltd. (Hungary) and SNTGN TRANSGAZ S.A. (Romania) signed a memorandum of understanding about a project for implementation of the Vertical Gas Corridor. The document was signed Wednesday at a joint meeting in Bucharest, the Energy Ministry told BTA. The Ministry recalls that last September the energy ministries of Bulgaria, Greece, Romania and Hungary signed a memorandum on the implementation of the Vertical Gas Corridor during a meeting of the High Level Working Group for Central and South Eastern Europe Gas Connectivity (CESEC). The document adopted on Wednesday aims to achieve cooperation between the gas companies to ensure interconnector natural gas supplies between the four countries' networks. Promotion of projects of shared interest and of other necessary projects, both jointly and individually, are among the objectives set down in the Memorandum for the Vertical Gas Corridor. Taking into account the strategic significance of the project for an interconnector between Greece and Bulgaria, the initiative also involves the ICBG AD project company. The companies agreed that the memorandum will serve as a basis to promote future cooperation in analysing ways to develop the necessary gas transmission system to connect it to transit states and the European market from Greece through Bulgaria and Romania to Hungary and back. Improving the four countries' national infrastructures and building interconnectors will contribute to achieving the aims of the European Energy Union, the Energy Ministry said.
Source: Monitor (20.07.2017)

NEK received nearly BGN 291 million from the Energy Security Fund The public utility supplier, the National Electric Company (NEK), was compensated by BGN 290.713 million in 2016 for the renewable electricity purchased and the current long-term contract with the American coal-fired power plants. The money has been transferred from the Power System Security Fund, which accounts for 5% of electricity sales revenues from all manufacturers and importers as well as from the Electricity System Operator and Bulgartransgaz from mid-2015. The fund also includes state revenues from the sale of greenhouse gas emission allowances, which in the past year exceeded BGN 355 million, of which BGN 215,164 million was deducted, and from carbon trading revenues - BGN 140,741 million. The maintaining costs of the fund in 2016 years have been for nearly BGN 132 thousand. After the amount of BGN 291 million is paid to NEK, over BGN 64 million will be left in the fund, to which new greenhouse gas emissions and greenhouse gas revenues are already accumulating.
Source: mediapool.bg (20.07.2017)

The EC Reportedly Agreed to Russian Gas in Planned Balkan Gas Hub The European Commission (EC) has reportedly acquiesced to allowing Russian gas to the planned Balkan gas hub near Varna, Bulgaria. It had seen a copy of a letter from energy and climate commissionaire Miguel Arias Canete to Bulgarian energy minister Temeuzhka Petkova in which Canete wrote that “the Commission continues to support the concept of the Balkan gas distribution center”. Reportedly the letter further said that the potential for supply diversification of the Balkan gas hub also included the possibility for “Russian gas to be transported to and traded in Bulgaria in compliance with internal gas market rules”, along with gas from other sources. The letter from commissionaire Canete came as a response to a question posed by the Bulgarian side regarding a possible rekindling of the cancelled South Stream gas pipeline project and other direct routes for Russian gas to Bulgaria. Canete’s reply stipulated that a South Stream restart should be regarded together with other projects for gas infrastructure expansion.
Source: Standart (28.07.2017)

Industry is preparing to strike because of the new tariffs of Bulgartransgaz Large industrial companies have declared readiness for strike action. In an open letter, the industry organization of industrial users disagrees with the new methodology, which Bulgartransgaz offers for setting tariffs for access and transmission to the gas transmission network. According to the preliminary calculations of the Bulgarian Federation of Industrial Energy Consumers (BFIEC), the new tariffs will lead to a 60% increase in transmission fees for individual end customers. This will cause a serious price shock on the market and block alternatives to imports of the blue fuel other than Russia. If the introduction of the new model does not stop, business threatenes with strikes similar to those in June 2015 because of the rise in electricity. The organization insists that Bulgartransgaz does not introduce the new price model from October 1, before publicly discussing an analysis covering the specifics of the market, the congestion of the gas transmission network and the effect of the new tariff. At the moment, Bulgartransgaz customers pay only a tax on the real volumes of natural gas transported, but the operator wants only 10% of the costs to be calculated on the actual quantities transferred, while the remaining 90% - on the basis of forecasts for capacity booking for at least 20 months ahead. Industrial users insist that a test period should take place before the new methodology is applied. If this is not done, they will appeal to the competent authorities because they consider that Bulgartransgaz's actions directly threatening towards the competitiveness of the Bulgarian industry.
Source: econ.bg (30.08.2017)

Bulgarian Energy Ministry: 'The Increase in the Final Price of Natural Gas Will be Below 2%'' 'The increase in the final price of natural gas will be below 2%. It is not true that gas will rise by 60%.'' This was announced by the Minister of Energy Temenuzhka Petkova at a briefing in the Council of Ministers, reported BGNES. ''A meeting between Bulgargaz, Bulgartransgaz, the Ministry of Energy and the State Agency of Energy Regulation will be held today. Within this meeting, all the details will be clarified'', the Minister added. ''First of all, the increase in the transmission and access fees is with a decision of the European Commission, which is in force since 2011. According to this decision, each of the operators should change their tariff policy'', she explained. The new gas price will come into force from 1 October this year. According to Petkova, household consumers will not feel the price increase.
Source: Monitor (31.08.2017)

Entry-Exit Natural Gas Transit Tariffs to Cause Up to 2.4% Price Hike The new entry-exit natural gas tariffs system planned for introduction in Bulgaria on October 1 will result in end-price increase by some 0.37 – 2.4 per cent, an analysis by state-run gas transmission system operator Bulgartransgaz reportedly revealed. These data were announced by the Bulgarian Ministry of Energy following an entire day of talks with large industrial consumers on the expected effects of the new tariffs system. By 18.00 EET on Tuesday no agreement was reached by the two sides. “It is very important for us that Bulgarian industry is developed in market conditions and that its competitiveness is guaranteed”, Bulgarian energy minister Temenuzhka Petkova said following the meeting. Currently Bulgaria has a fixed fee for gas transport via the Bulgartransgaz network amounting to BGN 19.73/1,000 cub. m (EUR 10.09/1,000 cub. m), VAT not included. The entry-exit model was devised five years ago. Bulgartransgaz said that the new tariffs system better reflected actual service costs and grid investments. Even though the entry-exit system’s introduction as of October 1 was backed by the State Energy and Water Regulatory Commission (EWRC) against pleas by the industry citing gas price steep increase concerns, the Bulgarian energy regulator is to inspect the calculations of Bulgartransgaz once more on September 11. A new round of talks with the industry will take place afterwords, the energy ministry said in a press release.
Source: 3e-news (07.09.2017)

Bulgaria, Greece, Serbia to Cooperate for Regional Gas Market Liberalisation Bulgaria, Greece and Serbia will be cooperating on gas projects that would increase security of supply in the region. Bulgarian energy minister Temenuzhka Petkova and her Greek and Serbian counterparts Giorgos Stathakis and Aleksandar Antic met on Thursday in Alexandroupoli, Greece, during an oil and gas forum, to discuss gas sources diversification for the region, the Bulgarian energy ministry said in a statement. Minister Petkova said that talks are underway with the European Commission so that additional financing for the Greece – Bulgaria gas interconnector (IGB) could be made available. At European Union level, the IGB Project has already obtained consistent political and financial backing. The project is subject of EU financial support through the European Energy Program for Recovery (EEPR) to the amount EUR 45 million. The three ministers also discussed the planned Vertical Gas Corridor, the Alexandroupoli LNG terminal and the Bulgaria – Serbia gas interconnector, along with another planned mega project – Bulgaria’s Balkan gas hub, with minister Petkova calling it a “European project”. “We are convinced that Greece and Serbia will play a vital part in the construction of the European gas hub Balkan”, Petkova said. The Balkan gas hub has been announced by Bulgarian PM Boiko Borissov a few years ago, with more agitation around it recent months, leading up to its presentation to U.S. congressmen by Borisov himself in end-August. Use of South Stream gas pipeline infrastructure and a direct link to its subsituting project - the Turk Stream, have all been launched as ideas for the Balkan gas hub realisation. The project has been reported to have the blessing of the European Commission for Russian gas to flow towards it. /publics.bg
Source: Other (08.09.2017)

The business and the state have agreed on the gas price model The new input-output model for transmission and access to the gas transmission system will be introduced from October 1 this year, the Ministry of Energy announced. The Energy Ministry has added that the Energy and Water Regulatory Commission (EWRC) has undertaken to monitor and control the revenues of Bulgartransgaz on a monthly basis, and to find out the possibilities for a change of the methodology when there are found distortions and disproportions with clear arguments. The state in the face of the Ministry of Energy, the Regulator and representatives of the Bulgarian Federation of Industrial Energy Consumers (BFIEC) will meet every quarter to discuss the impact of the new model and the possible need for corrections. The EWRC chairman Ivan Ivanov has made it clear that October 1 is the most appropriate start for introducing the new rules, because the gas year begins, the three-year regulatory period for Bulgartransgaz and the first of the three price years. Business representatives have agreed to the introduction of the new pricing model under strict and transparent ongoing control by the regulator and regular talks with the state if changes are needed.
Source: Darik Radio (28.09.2017)

Bulgartransgaz opens tender for feasibility study on Balkan gas hub Bulgarian gas transmission system operator Bulgartransgaz has said it is inviting bids in a 1.8 million euro ($2.11 million) tender for drafting a detailed feasibility study on the proposed Balkan gas hub project. The feasibility study aims to asses the commercial and technical viability of the project and the risks associated with its implementation, according to the tender notice posted on the website of Bulgaria's public procurement agency last week. The project is being co-funded under the EU's Connecting Europe Facility (CEF), which will cover 50% of the cost of the feasibility study. The deadline for submitting offers is November 1. In December 2014, the Bulgarian government proposed to the European Commission to build an EU-funded regional gas hub near the Black Sea port of Varna to dispatch gas deliveries to the rest of Europe - to Greece, Romania, Hungary, Croatia, Slovenia and, via those countries, to EU member states in central and western Europe, as well as to non-EU Serbia, Macedonia, and Bosnia and Herzegovina. Gas can be fed into the hub from Russia, from Bulgaria's potential gas deposits in the Black Sea or, via interconnectors with Greece and Turkey, from the Caspian region or the Eastern Mediterranean, or from the Greek and Turkish LNG terminals, the government said at the time. The gas hub could also be supplied via an interconnector with Romania, which is estimated to have significant deposits in the Black Sea shelf.
Source: Capital (02.10.2017)

First meeting of the gas group Bulgaria – Macedonia for new direct connection The main gas projects Bulgaria is working on will be important for the diversification of the sources and routes of the blue fuel in Macedonia too. The Minister of Energy Temenuzhka Petkova said this in a meeting with her colleague – the Republic of Macedonia’s Minister of Economy Kreshnik Bekteshi, the Ministry of Energy announced. Minister Bekteshi is in Sofia for the first meeting of the joint working group which will explore the possibilities for the development of an interconnection between the gas systems of the two counties. A memorandum for that was signed during Minister Petkova’s visit to Skopje on 1 August 2017. In the words of the energy minister missing infrastructure is a main problem for the Balkan Region and Bulgaria is working actively to overcome that difficulty. The main focus of starting next year Bulgarian Presidency of the Council of the EU will be Western Balkans, Petkova said. Until the end of this month two public procurement procedures connected with the construction of the Interconnection Greece-Bulgaria (IGB) will be announced. Their aim is to have the construction of the pipe started in the middle of next year so that it can being operating by the middle of 2020. Minister Petkova reminded that Bulgaria has signed a contract for the delivery of 1 billion cubic metres of natural gas from Azerbaijan, which will enter the country through the IGB.
Source: Other (27.10.2017)

Bulgaria, Macedonia sign agreement on gas link feasibility study Bulgarian state-owned gas transmission system operator Bulgartransgaz and Macedonian energy company MER Skopje signed an agreement on Thursday to conduct a feasibility study on the construction of a gas interconnector. Last month, Bulgartransgaz said it is inviting bids in a EUR 1.8 million tender for drafting a detailed feasibility study on the proposed Balkan gas hub project. Currently, Bulgaria supplies Russian gas to Macedonia through the Dupnitsa-Skopje pipeline. The agreement is a follow-up to a memorandum of understanding (MoU) signed on August 1 by the two countries. Bulgaria's Electricity System Operator (ESO) and its Macedonian peer MEPSO also signed an agreement on Thursday on launching joint auctions for the allocation of transmission capacities between the electricity operators of both countries. Conducting joint auctions will lead to an increase of the volume of traded electricity in the region and the liquidity of the energy exchanges.
Source: investor.bg (24.11.2017)

Bulgaria expects a EUR 330 mln fine from Brussels for gas monopoly A fine of EUR 330 million may be paid by Bulgaria in the European Commission's case against the country for abuse of a dominant position by the state-owned Bulgarian Energy Holding (BEH) and its subsidiaries Bulgargaz and Bulgartransgaz. The amount of the fine was first announced officially by the Minister of Energy Temenuzhka Petkova. She also said that the government would comply with Parliament's decision to appeal the case, instead of recognizing a violation in order for the sanction to be reduced. On Friday MEPs obliged Petkova not to recognize the violation. This contradicts the government's original plan to recognize the gas monopoly, and thus a 30% reduction in the sanction. According to lawyers, the decision of the deputies can be legally disregarded because the ministers are not obliged to observe the decisions of the parliament, but only those of the Council of Ministers. Petkova, however, announced that she would not take this opportunity.
Source: mediapool.bg (27.11.2017)

EC Continues Probe into Suspected Abuse of Dominant Position on Bulgaria's Natural Gas Market The European Commission is pressing on with an investigation, launched two years ago against the Bulgarian Energy Holding (BEH) and its subsidiaries over suspected abuse of their dominant position on the natural gas market in Bulgaria, a spokesperson for the Commission said on Monday. He added: "We sent a statement of objections in this case but I cannot at this moment announce any further steps." In March 2015, the European Commission sent a statement of objections to BEH, informing it of the Commission's preliminary view that BEH may have breached EU antitrust rules by hindering competitors access to key gas infrastructures in Bulgaria. The statement of objections was also addressed to BEH's gas supply subsidiary Bulgargaz and its gas infrastructure subsidiary Bulgartransgaz. The Commission has concerns that BEH and its subsidiaries may be preventing competitors from gaining access to the infrastructure they need in order to successfully compete on gas supply markets in Bulgaria. If the concerns are justified this behaviour would have reduced and continues to reduce competition in gas supply markets in Bulgaria. The fine that the EC may impose in the case may reach 330 million euro. This transpired from a Bulgarian National Radio interview Sunday with Energy Minister Temenouzhka Petkova. The interview came a couple of days after the national Parliament adopted a resolution requiring of the government to reject a deal with the European Commission, which would have slashed the fine by up to 30 per cent.
Source: 3e-news (28.11.2017)

Overgas prepares a new signal to Brussels for the gas network Overgas is preparing a new complaint to Brussels, which is related to access charges and the separation of the gas network in the country for transit and domestic use. This was announced by the CEO of Overgas Networks Svetoslav Ivanov. The introduced model contravenes Regulation 715 and favors Gazprom Export, the company said and expects European Commission (EC) to file a case on this as well. At the end of last week it became clear that Bulgaria will be fined by the EC in the criminal procedure that was initiated after an appeal by Overgas in 2011. The fine will actually be paid by the Bulgarian Energy Holding (BEH), which has broken the rules and will be entered directly into the EC budget. The gas company itself will therefore seek compensation for the damages suffered in court.
Source: Capital (30.11.2017)

Bulgarian-Swiss tie-up wins contract for Balkan gas hub feasibility study Bulgarian gas transmission system operator Bulgartransgaz said it awarded a 2.3 million levs ($1.4 million/1.2 million euro) contract for drafting a detailed feasibility study on the proposed Balkan gas hub project to a tie-up between Bulgaria’s EMG consult and Swiss-based AF consult. Both the second and the third placed candidates offered lower prices but their bids were ranked lower due to a worse score on the technical criteria, according to a notice published on the website of Bulgartransgaz last week. The feasibility study aims to assess the commercial and technical viability of the project and the risks associated with its implementation. Half of the price of the contract will be financed under the EU’s Connecting Europe Facility (CEF). In December 2014, the Bulgarian government proposed to the European Commission to build an EU-funded regional gas hub near the Black Sea port of Varna to dispatch gas deliveries to the rest of Europe - to Greece, Romania, Hungary, Croatia, Slovenia and, via those countries, to EU member states in central and western Europe, as well as to non-EU Serbia, Macedonia, and Bosnia and Herzegovina. Gas can be fed into the hub from Russia, from Bulgaria's potential gas deposits in the Black Sea or, via interconnectors with Greece and Turkey, from the Caspian region or the Eastern Mediterranean, or from the Greek and Turkish LNG terminals, the government said at the time. The gas hub could also be supplied via an interconnector with Romania, which is estimated to have significant deposits in the Black Sea shelf. Bulgaria is heavily dependent on Russian gas supplies. The country imports almost all the gas it needs to cover its domestic needs via a single pipeline from Ukraine through Romania.
Source: mediapool.bg (20.12.2017)