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EIB to provide 110 million euros euros for Bulgaria-Greece gas pipeline

Christian Fernsby |
The European Investment Bank agreed to provide a 110 million euros loan for the construction of a gas systems interconnection facility between Bulgaria and Greece (ICGB).

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The interconnector will also help establish a link with the Trans Adriatic Gas Pipeline (TAP), which runs from east to west through northern Greece.

The project is a key part of the strategy for greater integration of European energy markets focusing on the Bulgaria-Greece, Bulgaria-Romania and Romania-Hungary interconnections.

The 182 km-long gas pipeline comprises 151 km in Bulgaria and 31 km in Greece.

The initial capacity of the new pipeline will be 3 billion cubic metres per year (bcm/y), with it being possible to increase this to 5 bcm/y by adding a compressor station.

The project is supported and co-financed by the European Union.

It is included on the list of Projects of Common Interest (PCI), which are key cross border infrastructure projects that link the energy systems of EU countries.

The EIB loan will be provided to the Bulgarian state-owned Bulgarian Energy Holding company.

The project promoter and beneficiary is ICGB AD (Inter Connector Greece Bulgaria), specifically established to develop, construct, finance, own and operate the pipeline.

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