Oops: Bulgaria may need to revise new shale gas law

The Bulgars could also use some help with economics.

The Southeast Europe Times reports,

A new law in Bulgaria to ban hydraulic fracturing, or fracking, may need to be revised, as experts say it effectively blocks all drilling and field survey procedures associated with the exploration and extraction of oil and natural gas in the country.

Experts say that a provision in law, under which the pressure used to drill for the extraction of oil or natural gas cannot exceed 20 atmospheres, will affect all drilling done at 200m depths and lower…

And how stupid are the Bulgarians to ban fracking in the first place?

Bulgarian Eneregy and Economy Minister Traicho Traikov told bTV that Russia’s Gazprom is currently charging Bulgaria more than 382 euros for 1,000 cubic metres of natural gas, while countries that have shale gas are paying 76 euros for 1,000 cubic metres.

“The parliament’s decision is depriving us of an argument in the negotiations with the Russians,” the minister said.

Bulgaria, which buys 98% of its gas from Gazprom, could be sitting on 300 billion cubic metres to 1 trillion cubic metres of shale gas, Bloomberg news agency said, citing the Bulgarian energy and economy ministry’s estimates.

2 thoughts on “Oops: Bulgaria may need to revise new shale gas law”

  1. Steve Milloy, how dare you comment something you don’t know anything about? Chevron (that screw over Ecuador and probably so many other known and unknown places) is trying to drill in the most fertile place on the Balkans if not in entire Europe. It’s simply choosing the less evil by sticking with Russia, because after some time the fraction leaves desert. How convenient for the American GMO producers, huh? About Bulgaria’s intelligence – currently the smartest person on earth is from that nation (if the measurement is IQ test). Israelis are second and so forth. Use your head…

  2. Fracking could damage Bulgaria’s trade relations with Russia. Does anyone doubt there’s serious money involved in this? There are fortunes to be made, or lost.

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