Iran Claims Israel Behind Gas Pipeline Explosions
An Iranian official has accused Israel of orchestrating an attack on gas pipelines in Iran last week
A bank guarantee for Bulgaria in order to participate in the project to build the "Nabucco" gas pipeline would lead to over deficit, Prime Minister, Boyko Borisov, says.
Borisov spoke Tuesday during the "Energy without Frontiers" conference on the energy sector in Southeastern Europe, held in Sofia, voicing hopes the European Commission would consider his proposal that the State guarantee of countries participants in the project would not be included in calculating the budget deficit.
According to the PM, a bank guarantee of EUR 2 B becomes deficit immediately after it is absorbed only for the sake of Bulgaria proving it is a reliable European partner..
"I will not halt the project, but we all must understand it would lead us to an over deficit," Borisov stated, adding both the European project and the Russian one – the "South Stream" gas line are beneficial for Bulgaria because they are transit lines, which Bulgarian can use to diversify its gas supplies.
The leader of the right-wing Union of Democratic Forces (UDF) and Chair of the Parliamentary Energy Committee, Martin Dimitrov, noted the lack of a well-rounded and common EU energy policy is a weakness and "Nabucco" could be a possible solution. Dimitrov explained Bulgaria also failed, in the last few years, to establish a sound energy strategy – a must before signing contracts for major energy projects, adding the country needs to prioritize since it does not have funds for all of them.
Meanwhile, the Members of the European Parliament from Borisov's Citizens for European Development of Bulgaria (GERB) party officially supported "Nabucco" as the main energy bridge between Europe and Asia and the most profitable project.
"Nabucco must be considered a priority because it is an alternative for the diversification of energy resources in Europe. I would guarantee significant gas supplies and encourage competition on the European gas market; it would lead to lower gas prices for the EU citizens and eliminate energy deficits in Bulgaria and the EU," the declaration, distributed by the GERB MEPs press office in Brussels reads.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
In a bid to enhance its energy security and diversify its gas supply sources, Bulgargaz is gearing up for the first deliveries of liquefied gas through the Alexandroupolis terminal, set to commence in May
The Greek national electricity company, PPC, has announced plans to acquire 500 megawatts of photovoltaic capacity in Bulgaria
Oil prices have surged due to renewed concerns about the Middle East conflict. Brent crude futures increased by 0.32% to 90.80 USD per barrel, while American WTI crude rose by 0.3% to 86.50 USD per barrel
Bulgaria's state-owned energy company, "Bulgargaz," has suffered a significant setback, losing 27% of its market share as a result of a contract with the Turkish company "Botas"
A remarkable shift in Bulgaria's energy landscape has been unveiled in the latest report from the Commission for Energy and Water Regulation, submitted to the Bulgarian parliament
Natural gas prices in Europe experienced a significant spike, surpassing 2% to reach 29 euros per megawatt-hour (MWh) on Monday
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022