Bulgaria Addresses Environmental Concerns Over Shale Gas
Bulgarian Energy Minister Traicho Traikov has sought to ease environmental fears about drilling for shale gas.
Traikov said the exploratory drilling would not be riskier than any other drilling for mineral resources, noting that the drilling would be monitored and under strict environmental norms.
Exploration works will last at least a year, and if proven successful, actual production can start in 10-15 years and only after diligent environmental impact assessment, Environment Minister Nona Karazhova told a conference on Bulgaria's shale gas outlook.
Bulgaria sees unconventional gas resources as providing an opportunity for improved energy security.
"The use of one's own resources has a potential that not a single country can allow to neglect. Because it gives security, independence and lower consumer prices," Traikov told a conference on Bulgaria's shale gas outlook.
"If we get to industrial production, we will be getting tens of millions in concession fees a year," he said.
"It is reasonable to check whether we can rely on this resource, although in the long run and under strict environmental norms," he said.
Bulgaria recently granted Chevron Corp. a concession to explore for shale gas in an area in northern part of the country. (Read More HERE)
Traikov said the area had already been deeply drilled in the 1970s and 1980s, which did not cause water contamination.
Initial estimates based on similar rock formations elsewhere indicate reserves of between 300 billion and 1 trillion cubic metres of shale gas, which could meet Bulgaria's gas needs for over 300 years.
Traikov said the reserves looked promising and that the country would soon open new shale gas tenders.
Related Reading:
Bulgaria Encouraged To Be Hands On in Shale Gas Development
Bulgaria to Offer Additional Shale Concessions