Invest in Bulgaria - The Preferred Partner of Investors Seeking Opportunities in Bulgaria
GUGUSHEV & PARTNERS is among the leaders on the Bulgarian legal market Comprehensive Organization of MBA and EMBA Study Trips in Bulgaria
FDI in Bulgaria (13)
Health (4)
Macroeconomic Data (49)
Business (361)
Investments (155)
Infrastructure (97)
Financial (126)
Economy (350)
Construction (14)
Politics (62)
Real Estate (27)
Interesting Facts (24)
Sports (10)
Software and Information Technology (28)
Real Estate (56)
Tourism (112)
Waste Management (9)
Automotive (23)
Electronics (3)
General (81)
Renewable Energy (66)
Agriculture (22)
Construction (90)
Food and Beverage (20)
Textile (2)

US Ambassador Presents Major Gas Alternative for Bulgaria
Date: 13/07/2010
US Ambassador Presents Major Gas Alternative for Bulgaria

The US ambassador to Bulgaria James Warlick gave an official presentation Tuesday of American company Chevron, which has expressed interest in drilling for shale gas in the country.

Chevron representatives, headed by company vice-president Ian MacDonald, are in Sofia for talks with PM Boyko Borisov and other high-ranking officials in order to present their offers.

“Bulgaria has the opportunity to diversify its energy sources. I hope that a prospecting license will swiftly be granted to Chevron, who are going to invest a lot of money in Bulgaria,” said the American diplomat.

Warlick thus implicitly replied to comments on the part of Bulgarian President Georgi Parvanov to the effect that any third parties choosing to comment on Bulgaria's energy policy should be ready to present palpable alternatives.

Shale gas extraction is considered by some as the alternative to conventional natural gas extraction that has the best outlook. It involves a novel technique tapping deposits in the earth's crust that were not reachable before.

Chevron's MacDonald concurred that shale gas might provide great opportunities for energy diversification in Europe, but added that shale gas would be much more expensive. The latter was omitted by the event's translator, according to

Chevron has already filed a prospecting request and awaits confirmation from the Ministry of Environment and the Council of Ministers. Prospecting has been conducted in Poland and Romania, but no shale gas has ever been extracted in Europe up to this point.

The shale gas deposit of interest for Chevron is located in North-Eastern Bulgaria near the Romanian border.

There have been constant reports in the past that Chevron has expressed interest in buying a share of projected Burgas-Alexandroupolis oil pipeline, whose prospects of completion are still not very bright.

June Chevron signed a contract with Russian oil giant Rosneft for deep water drilling in Russian Black Sea waters by a holding company.

Topic: Investments

Featured District
Invest Bulgaria Charts
FDI to Current Account Deficit of Bulgaria
FDI to Current Account Deficit of Bulgaria

Capital and Financial Account of Bulgaria
Capital and Financial Account of Bulgaria

See all charts
Did You Know?
Bulgarians Abroad
Bulgarians Abroad
More than 100,000 Bulgarians live in Chicago ... More

Shopska Salad is the most popular salad in Bulgaria. It is made from tomatoes, cucumbers, onins, raw or roasted peppers and of course - the famous Bulgarian cheese.

Intelligence Pathways - Outsource your Business, Competitive Intelligence or Back Office to Bulgaria

Bulgaria Translation - Full service Bulgarian Translation company

© Copyright 2004-2020 Invest Bulgaria Group Ltd, Sofia, Bulgaria. All rights reserved.

Please read Conditions of Use, Copyright Statement and Privacy Policy for this web page and web site.

SEO оптимизация Bulgaria Translation Bulgarian Agriculture Bulgarian Textile Sofia Web Works Bulgarian Coins Intelligence Pathways Bulgarian Outsourcing

Crafted by Sofia Web Works. Maintained by Website Maintenance, the kings of Website Migration.

Our Featured Members