POST Online Media Lite Edition



 

Deal on Bulgaria-Greece gas interconnector to be signed on December 10

Staff writer |
The investment agreement on the construction of the planned natural gas interconnector between Bulgaria and Greece (IGB) is expected to be signed on December 10.

Article continues below






This was announced by Bulgarian Energy Minister Temenuzhka Petkova in an interview for Focus news agency upon her return from the energy and economic summit of the Atlantic Council held in Istanbul.

Petkova noted that the last remaining discrepancies between the two countries have been ironed out. The bones of contention were the rate of return and the opportunity for Greece to withdraw from the project for some time.

The countries agreed to include a clause in the agreement,which foresees the extension of the transportation capacity from 3-5 billion cubic metres (bcm) per year to 10 bcm per year and even more.

The gas interconnector is foreseen to provide a direct link between the natural gas systems of Bulgaria and Greece with an entry point in the vicinity of Komotini and an exit point in the vicinity of Stara Zagora.

Initially, the link was foreseen for completion by the end of this year, but it has experienced serious delays. According to Petkova, it is realistic to speak of the pipeline's completion by the end of 2018.

The minister forecasted that the gas interconnector with Romania will be launched in the first half of 2016.


What to read next

Bulgaria to build new $236m gas corridor with Romania and Greece
Bulgaria, EU start work on creation of Balkan gas hub
U.S. called to accelerate IGB, TAP gas projects