According to Russia’s authorities, Bulgaria can not rely anymore on the South Stream gas pipeline project. After the short bewilderment and disappointment of the Bulgarian authorities which followed the speech of Russian President Vladimir Putin who announced the cancellation of the gas project, Bulgarian Premier Boyko Borissov reacted almost immediately with a counter strike. “Bulgaria will not only have enough gas for local consumption, but will also export gas, because this country has enough gas deposits. This is the hope of the country’s future generations, because it does not only mean a full energy diversification, but a good future of the local economy”, Premier Borissov said and ordered the competent authorities to start immediately a contest for concessions of two new sections in the Black Sea where energy companies are to do gas and oil prospecting in the country’s marine economic zone. The concessions will be granted for a five-year period and the first Bulgarian gas could be extracted as early as 2020. This is not quite true, because the authorities have long ago started to search for gas and oil inland and in several other sea sections. These researches are in a different stage but information about them is quite insufficient. The gas and oil deposits which have already been found are meager, but some preliminary data fill Bulgaria’s Premier with optimism and encourage the companies which are of course looking for lucrative energy deposits.

For example, experts contend that there are some 100 billion cubic meters of gas in the Han Asparuh section of the Black Sea which would satisfy the country’s gas needs for 30 years. “We can confirm that we have the potential to discover hydrocarbon deposits in the Han Asparuh section of the Black Sea, spokesperson of Austrian energy giant OMV Robert Lechner said cautiously. This company participates jointly with French Total and Spanish Repsol at the international consortium which does the prospecting for potential gas deposits. Other experts also show optimism, because this sea section is in close proximity to a Romanian gas deposit with a huge capacity of 84 billion cubic meters of gas which means that gas could also be found in the Bulgarian section of the Black Sea. The two new sections Teres and Silistar which are yet to be explored are in close proximity to a Turkish gas deposit field, which is also a good occasion for optimism. That is why some experts joke that the Black Sea could become the New Persian Gulf.”

In fact, Bulgaria’s local needs of gas are not so huge, because its annual consumption amounts to only 3 billion cubic meters. However, 95% of the country’s current needs are covered by Russian gas. The extremely high dependence on Russia and Ukraine, which transits the gas to Bulgaria, concerns deeply the Bulgarian authorities, which are doing their best to find a solution, which would guarantee this country higher gas independence. However, they should not allow shale gas prospecting on Bulgarian territory. The exploration of this type of fuel is prohibited by law in this country.

So far, it is still unclear whether Bulgaria could rely in the future on own gas resources. However, if Bulgaria’s Premier believes in that future, it means that he is already aware of facts which make him so confident and optimistic.

English version: Kostadin Atanasov