Petkov

Nine banks have confirmed interest in lending up to EUR 650 BGN to the state-owned Bulgarian Energy Holding (BEH) company, Energy Minister Temenuzhka Petkova has said.

The energy group is seeking the money to enable its indebted subsidiary National Electricity Company (NEK) to repay debt owed to the local units of U.S.-based AES Corp. and ContourGlobal.

Bulgaria gave the green light to Shell Exploration and Production (LIX) B.V. on Tuesday to conduct deep-water oil and gas exploration off its Black Sea coast.

The permit for prospecting and exploration activities at Blocks Silistar 1-14 has been awarded for a period of five years, the government in Sofia said in a statement.  

Bulgarian Energy Minister Temenuzhka Petkova has turned down a proposal by employers' organizations that potential investors should be sought to replace AES and ContourGlobal as shareholders at thermal power plants.

Representatives of the business sector will take part in the work of the company boards of all state-owned energy firms, according to a decision adopted at a meeting between Prime Minister Boyko Borisov, Energy Minister Temenuzhka Petkova, Delyan Dobrev, Chair of the parliamentary energy committee, and employers' associations.

The Bulgarian Energy Holding (BEH) is now considering options to pay off debts to the AES and ContourGlobal thermal power plants, Bulgarian Energy Minister Temenuzhka Petkova has said.

Speaking to reporters, she added the BEH would launch a procedure to secure funding by the end of text week.

Bulgaria didn't quit the South Stream gas pipeline project, Energy Minister Temenuzhka Petkova has said.

Petkova is quoted by Focus News Agency as telling reporters that Sofia always perceived South Stream to be "a very important project", but it had to be realized in compliance with European law.

Bulgarian Energy Minister Temenuzhka Petkova has said that state-owned companies in the sector will be able to save some BGN 20 M in 2015.

In an interview with the Bulgarian National Television she has reminded of the government's commitment to cut expenditures there by 10% every year until 2017.

Russian Energy Minister Alexander Novak on Tuesday said his Bulgarian colleagues haven't changed their mind about withdrawing from the Burgas-Alexandroupolis pipeline project.

Bulgarian Energy Minister Temenuzhka Petkova has told Russian counterpart Alexander Novak that Sofia is proposing the construction of a gas hub on Bulgarian soil.

Special Envoy to the US Foreign Secretary John Kery, Amos Hochstein will be arriving in Bulgaria Wednesday.

During his visit in Sofia, Hochstein will be received by Bulgarian President Rosen Plevneliev and by Prime Minister Boiko Borisov.