Last June, Bulgaria granted U.S. oil company Chevron a permit to explore for shale gas in the northeastern part of the country. The potential reserves of shale gas in this area — the country’s main grain producing region — are estimated at up to 1 trillion cubic meters.
Bulgaria, which is almost totally dependent on Russian gas supplies, has long pushed for a way to diversify its energy sources, including shale gas. It has said Chevron would prepare a five-year project worth [?] million ($72 million) and invest [?] million ($5.8 million) on environment protection.
Because the last time Bulgaria depended on the Russians it worked out so well…