Temenuzhka Petkova

Energy Minister Temenuzhka Petkova has suggested that the energy sector has been in critical condition for the past 10-12 years.

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The EU's Transport, Telecommunications and Energy Council is set to meet in Brussels on Tuesday, with the latest developments around the South Stream pipeline topping the agenda.

A proposal to create an internal energy market to connect all electricity and gas grids within the bloc will also be under discussion.

There is a risk of the European Commission asking Bulgaria to return the sum of EUR 12 M used for the expansion of the Dry Spent Fuel Storage Facility (DSFSF), according to Energy Minister Temenuzhka Petkova.

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The Bulgarian government will insist that EU and Russia should go on with the South Stream project on Tuesday, Prime Minister Boyko Borisov has said.

A delegation from Sofia is due to take part in the Transport, Telecommunications and Energy Council, a configuration of the Council of the EU scheduled for December 9.

Neither a long-term gas transit contract nor a complete finance model could be found among the documents signed with Bulgaria on the South Stream project, the government says.

Its statement comes after Prime Minister Boyko Borisov was made familiar with the documents by Energy Minister Temenuzhka Petkova.

Bulgaria's foregone income of EUR 400 M a year allegedly resulting from Russia's decision to drop South Stream hasn't been mentioned in the contracts relating to the project, a Bulgarian cabinet minister said on Wednesday.  

Bulgaria's Energy Minister Temenuzhka Petkova has vowed a comprehensive audit of the sector to establish the financial gap and identify ways of overcoming it.

All ministries will be subject to audits in the period August 15-25 as part of a set of priority economic measures of Bulgaria's caretaker government.

According to a media statement of the Finance Ministry, the summary report containing the results of all inspections is to be ready by the end of August.