The adopted at first reading bill regulating the underground conservation of carbon dioxide was submitted in parliament by the Council of Ministers. The bill encourages the use of a technology to liquefy and store under the ground carbon dioxide, as a way of diminishing CO2 emissions. The technology represents a process in which the gas CO2 is caught and then transported to the place where it is injected deep down the earth for a long term and safe keeping. The draft bill establishes the legal frame for environmentally safe storage of CO2 in geological formations within the country, within its continental shelf and the Black sea exclusive economic area with the aim at fighting climate change. The movers of the bill explain the aim is to decrease CO2 emissions by 2030 by 15% of the European Union target. The draft bill differentiates 2 types of license permits, one for the search of appropriate place under the ground and the other for storage. The term of the CO2 storage permit will be 30 years and granted for a specific locality. The bill regulates the relations between the state and the operator in cases of closing or withholding of the permit for CO2 storage.