Bulgaria is seeking US investors for coal seam gas drilling, announced Economy Minister Traicho Traikov after his meeting with Juan Verde, US Deputy Assistant Secretary of Commerce.

Traikov and Verde, a Deputy Assistant Secretary for Europe at the US Department of Commerce, met in Sofia Friday. This was their second meeting in two months after Traikov’s visit to the United States in April 2010.

The major topics of their talks revolved around the opportunities for American companies to explore coal seam gas deposits or to invest in renewable energy sources in Bulgaria.

The Minister of Economy, Energy, and Tourism has made it clear that Bulgaria wanted to invite US companies because they possessed the most advanced technologies in the field of coalbed methane extraction and deep drilling.

“We would like to stimulate the interest of American companies and to attract them to explore potential deposits in Bulgaria. The positive effect will be twofold – first, the very exploration of the deposits will bring investments worth hundreds of millions of dollars, and, second, it will improve Bulgaria’s energy independence,” Traikov explained after meeting with Juan Verde.

Other topics of their meeting included measures for protection of intellectual property and Bulgaria’s progress in the production of electric cars. Minister Traikov has pointed out that Bulgaria was interested to focus on developing electric cars as part of the EU market.

The US Deputy Assistant Secretary of Commerce as congratulated the Bulgarian government for its campaign against organized crime and corruption. He has also talked to Traikov about how the Bulgarian government can make the country a better investment destination.

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