Bulgargaz Forecasts 5-6% Dip in Natural Gas Prices for May
Bulgargaz, the leading public gas supplier in Bulgaria, anticipates a notable decrease in the price of natural gas for the upcoming month of May. According to Lyudmila Vitanova
EU lawmakers are divided on the topic of shale gas research in the bloc, according to two draft reports – those of the committees on energy and the environment.
"Domestic production of shale gas will contribute to security of supply, bearing in mind member states' dependence on natural gas imports from third countries," the draft report of EP's energy committee says, as seen by Dow Jones.
The report has pointed out that developing shale gas in the EU will help achieve its goal of reducing greenhouse gas emissions.
However, the members of the environment committee have demanded monitoring of any shale gas development and have stressed the need of appropriate laws to regulate shale gas exploration.
The environment committee "calls on national authorities to review existing state regulation on well construction for conventional fossil fuels and update those provisions covering the specific unconventional fossil fuel extraction."
Following widespread protests, on January 17, the Bulgarian government revoked a shale gas exploration permit granted to US Chevron for deposits in Northeastern Bulgaria, citing the insufficient proof of the environmental safety of hydraulic fracturing.
On January 18, the Cabinet imposed an indefinite ban on hydraulic fracturing, a method which involves injecting a mix of water, sand and chemicals at very high pressure deep underground to crack rock and release oil and gas.The move was triggered by a wave of environmental protests across the country.
On Wednesday, the Bulgarian Parliament set up an ad-hoc committee to study, analyze, and discuss "good practices and legislative solutions" on the regulation of exploration and extraction of mineral and energy resources. The newly founded committee is expected to deal with the issue of shale gas exploration and extraction.
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