A DELEGATION from Russia’s Gazprom and Gazexport has held talks with Bulgarian President Georgi Purvanov on the development of the Bulgarian gas market, the national programme for gasification, and opportunities for increasing Russian gas transits through Bulgaria.
The delegation, which met Purvanov last Thursday, was headed by Sergei Lukash, deputy chairman of the Gazprom Managing Board.
The two sides agreed that gasification would help improve the energy efficiency of the Bulgarian economy and bring it up to the European standards, Purvanov’s office said.
About $520 million in energy costs could be saved every year if Bulgaria implemented the programme for gasification, Sasho Donchev, chief executive of Bulgarian gas supplier Overgaz, told a news conference last Thursday.
Gasification could be completed in 10 years on an investment of $400 to $420 million, he said.
The distribution of gas through gas distribution companies would take another $170 million in annual investments at a relatively slow rate of return of 12 years.
Donchev said the European Bank for Reconstruction and Development, the International Finance Corporation and several other multilateral financial institutions were interested in providing funding for such a programme.
To complete this project, households too would have to pay about $360 million a year for the gas installations in their homes.
Gazexport Director General Oleg Sienko said Bulgaria was very important as a transit country for the transportation of Russian gas across the Balkans.
The existing gas transmission capacities are used only at a level of 11 per cent.
“There are favourable conditions for the construction of a gas transmission corridor to Italy and this project is viewed by the Bulgarian side and ourselves as a strategic matter,” Sienko said.
The delegation, which met Purvanov last Thursday, was headed by Sergei Lukash, deputy chairman of the Gazprom Managing Board.
The two sides agreed that gasification would help improve the energy efficiency of the Bulgarian economy and bring it up to the European standards, Purvanov’s office said.
About $520 million in energy costs could be saved every year if Bulgaria implemented the programme for gasification, Sasho Donchev, chief executive of Bulgarian gas supplier Overgaz, told a news conference last Thursday.
Gasification could be completed in 10 years on an investment of $400 to $420 million, he said.
The distribution of gas through gas distribution companies would take another $170 million in annual investments at a relatively slow rate of return of 12 years.
Donchev said the European Bank for Reconstruction and Development, the International Finance Corporation and several other multilateral financial institutions were interested in providing funding for such a programme.
To complete this project, households too would have to pay about $360 million a year for the gas installations in their homes.
Gazexport Director General Oleg Sienko said Bulgaria was very important as a transit country for the transportation of Russian gas across the Balkans.
The existing gas transmission capacities are used only at a level of 11 per cent.
“There are favourable conditions for the construction of a gas transmission corridor to Italy and this project is viewed by the Bulgarian side and ourselves as a strategic matter,” Sienko said.
