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Bulgarian lawmakers banned hydraulic fracturing and established a 100 million-lev ($65 million) fine for offenders, thwarting Chevron Corp.’s plans to explore for natural-gas deposits in the Balkan country.
"While fracking has made the U.S the world’s largest gas producer, it has also raised concerns that the technique pollutes drinking water and causes earthquakes. The ban halts the process of issuing permits to Texas-based Integrity Towers Inc. and Denver-based oil producer Direct Petroleum Exploration Inc., which were interested in shale-gas exploration in Bulgaria.
"While fracking has made the U.S the world’s largest gas producer, it has also raised concerns that the technique pollutes drinking water and causes earthquakes. The ban halts the process of issuing permits to Texas-based Integrity Towers Inc. and Denver-based oil producer Direct Petroleum Exploration Inc., which were interested in shale-gas exploration in Bulgaria.
“The ban is for an indefinite period of time and is valid for the whole territory of the country, including the Black Sea territorial waters,” Valentin Nikolov, a lawmaker in the ruling Gerb party, said in parliament today.
France was the first country in the world to outlaw hydraulic fracturing of shale rocks last July. Last year exploration was suspended in the German state of North Rhine- Westphalia as well as in northwest England, where fracturing gas wells caused two tremors." Read More Here | Bulgaria Bans Gas Fracking, Thwarting Chevron Drilling Plan - Businessweek
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