Environment

Significant amounts of natural gas could be extracted from Bulgaria's Khan Asparuh deep-water block, OMV believes.

Austrian energy company's expectations have so far been fomented by the discovering of vast amounts of gas at Neptun, a deep-water block in neighboring Romania situated next to Khan Asparuh.

The popular island destination of Myconos faces a serious drought risk this summer unless immediate measures are taken to avert water shortages, Skai understands.

The water levels at the island's main reservoir are exceptionally low and sources indicate that a new desalination plant is needed.

BELGRADE - The Japanese government has donated around EUR 323,000 for implementation of various environmental protection projects to public utility enterprises (PUEs) in four Serbian municipalities.

Around 1500 people gathered Thursday evening in Sofia in a protest against a construction clearance in a protected Black Sea coastal area.

According to reports of dnevnik.bg, the rally was attended by some 4000 demonstrators.

By Chryssa Liaggou

The London-based ITE Group announced on Thursday that it will stage the first international exhibition and conference on oil and natural gas in association with local exhibition firm ROTA SA in Athens on November 25-27 at the Metropolitan Expo venue next to the capital’s airport, with the aim of making it an annual event.

Ukraine to lose offshore gas fields in Black Sea

KIEV -- With the loss of Crimea, Ukraine has lost not only its naval bases in the territory, but also offshore gas fields in the Black Sea, reports said on Thursday.

These fields will now likely be taken over by Russia's oil and has giant Gazprom, AFP is reporting.

BELGRADE - Serbia will invest about EUR 10 billion in environmental protection over the next 10 years, and the screening of the EU acquis in Chapter 27, regarding ecology, will begin as early as September, Serbian Energy Minister Zorana Mihajlovic said while opening Belgrade’s third International Ecology Fair, ECO EXPO 2014, on Thirsday.

The decreased electricity consumption might bring BGN 8 M losses to Bulgaria's nuclear power plant Kozlodui. 

Because of the unusually warm weather and low electricity consumption, Bulgaria's Electricity System Operator ordered the limiting of energy production by all power stations. 

Bulgaria's government approved Wednesday construction works in the Karadere area on the Black Sea coast.

The Cabinet backed a memorandum with the company Madara Europe, represented in Bulgaria by offshore company Rainbow Malta Limited, according to reports of Sega daily.

A total of 4.56% price reduction of natural gas is expected as of April 1, Bulgaria's State Commission for Energy and Water Regulation chair Boyan Boev announced.

It is not yet clear how the cuts will affect the consumer prices of heating and hot water.