This report provides an analysis of natural gas market in Bulgaria and Romania, based on the news of large resource of crude oil and natural gas have been found in Bulgaria. The report aims to describe the current situation, it gives information about the role of natural gas in the Romanian energy production and consumption, furthermore it gives a view about the natural gas dependence, as well. The report survey breifly the market background and provides information about the participants. The total income datas of the two largest state-owned companies (Bulgartransgaz, Bulgargaz) show the current market situation in this segment. It traverses the natural gas prices for households and industrial end user segment, also. Next to Bulgaria the report deal with Romania and gives some information about the importance of natural gas in Romanian economy and it includes datas about the import, consumption. On the other hand it gives a chart about the production of natural gas between 2011 and 2014.