Temenuzhka Petkova

Bulgarian Energy Minister Temenuzhka Petkova is predicting a possible decrease in the prices of electricity due to the falling prices of natural gas.

In an interview for the Bulgarian National Television (BNT) on Friday, Petkova said that the expected decrease in the price of natural gas is slightly above 20 %.

Shell Exploration and Production BV, part of the Royal Dutch Shell Group, will explore Bulgaria's offshore Silistar 1-14 block for oil and natural gas deposits.

The gas field has an area of 6893 square kilometers and is located in the continental shelf of the exclusive economic zone of Bulgaria in the Black Sea.

Bulgaria and Shell are set to sign an agreement for offshore gas exploration on Tuesday, the government has announced.

Energy Minister Temenuzhka Petkova and Shell Exploration&Production BV Eileen Wilkinson with take part in the ceremony that is due on Tuesday morning at the Council of Ministers.

Prime Minister Boyko Borisov has also been invited to attend.

Jacklen Cohen, head of Bulgarian Energy Holding (BEH) company, has been dropped from the board of directors of the state-owned group, the Energy Ministry has announced.

Cohen has been replaced as board member by Bulgargaz CEO Petyo Ivanov under a decision of Energy Minister Temenuzhka Petkova.

The Balkan gas hub project put forward by Bulgaria is not aimed at going around Ukraine's gas transportation network, Energy Minister Temenuzhka Petkova said on Saturday.

Weather authorities in Bulgaria have issued a Code Yellow warning for 11 of the country's 28 regions over gale-force winds.

The regions affected are Silistra, Dobrich, Varna, Razgrad, Shumen, Targovishte, Burgas, Sliven, Yambol, Haskovo, and Kardzhali.

Bulgarian Energy Minister Temenuzhka Petkova foresees no increase in the price of electricity at least until the summer.

The price will remain at the level determined by the Energy and Water Regulatory Commission (KEVR) until the next planned review of prices in the summer.

Bulgaria has presented to a potential Chinese investor the opportunities for possible cooperation in the construction of a new unit at Kozloduy nuclear power plant, the Energy Ministry in Sofia said on Tuesday.

"A delegation from a Chinese corporation operating nuclear plants visited Kozloduy nuclear power plant," the Energy Ministry said in a statement.

A trial launch of the Independent Bulgarian Energy Exchange (IBEX) is expected to take place on Friday.

The aim of the exchange is to ensure that electricity will be sold and purchased at prices determined by the market.

Bulgaria's state energy holding BEH and Greek-Italian joint venture ISI Poseidon signed on Dec. 10 a key investment deal to build a new pipeline linking Bulgaria and Greece's gas networks, officials said.