Bulgaria’s Domestic Gas Production to Cover 34% of Gas Needs by 2016

Business » ENERGY | October 13, 2014, Monday // 15:02
Bulgaria: Bulgaria’s Domestic Gas Production to Cover 34% of Gas Needs by 2016 Photo by bulgartransgaz.bg

In two years’ time, 34% of Bulgaria’s gas needs will be covered through local production, according to a forecast of state-owned gas transmission operator Bulgartransgaz.

The forecast is included in the 10-year gas grid development plan of the company which is to be reviewed and approved by the State Commission for Energy and Water Regulation (DKEVR) next week, according to econ.bg.

In 2016, Bulgaria’s annual consumption is to amount to 3,850 billion cubic meters of gas, compared to a current rate of 2,960 billion cubic meters of gas, according to Bulgartransgaz.

Bulgaria’s gas production is to increase to 1.3 billion cubic meters of gas, compared to a current rate of 230 million cubic meters of gas, with domestic output expected to jump to 800 million cubic meters of gas in 2015.

The anticipated increase in local gas production is explained with the increase in the number of new concession contracts for gas field exploration.

According to Bulgartransgaz, the total gas volume of the Galata exploration block, the Kavarna gas field, and the Kaliakra gas field is estimated at 1.7 billion cubic meters of gas (440 million cubic meters of gas a year), with the production capacity expected to start dwindling as the gas fields become depleted.

The Galata exploration block is being developed by Melrose Resources, which was acquired by Ireland’s Petroceltic in 2012.

The latest seismic tests of new territories in the Galata exploration block indicate 23% likelihood of the presence of new gas quantities of 3.5 billion cubic meters of gas.

At the same time, the Koinare gas field of Direct Petroleum(acquired by Canadian company TransAtlantic), is expected to yield up to 36 billion cubic meters of gas. However, exploration activities at the site have only been completed at the A-Lovech exploration block, which is to yield 13.7 billion cubic meters of gas.

According to preliminary data, the maximum production levels of the other blocks amount to around 22 billion cubic meters of gas.

The forecast does not include tests of the gas fields in the aquatory of Black Sea, especially the Khan Asparuh exploration block, as the results of the drilling are to be clear in 2015 at the earliest.

Bulgartransgaz plans to invest over BGN 1 B into gas pipelines, compressor stations, and the Chiren underground gas storage by 2023.

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Tags: Bulgartransgaz, gas supplies, gas field, State Commission for Energy and Water Regulation, DKEVR
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