Final results of FS for Balkan Gas Hub to be presented soon
Baku, Azerbaijan, Feb.5
By Leman Zeynalova – Trend:
The final results of the Feasibility Study for the Balkan Gas Hub will be presented at a ‘round table’ event organized by Bulgaria’s Bulgartransgaz EAD in Sofia on Feb.28, Trend reports citing cms-lawnow.
The following topics will be presented at this event: Final results of the feasibility study and the “Open Season” procedure; The establishment of “Gas Hub Balkan” EAD; The participation of Bulgartransgaz EAD in the development of the LNG terminal in Aleksandroupolis, Greece; and The gas interconnector between Bulgaria and Greece.
Reportedly, the event will also have a panel, discussing the opportunities for share participation in the regional natural gas exchange market (i.e. Gas Hub Balkan), and for obtaining financing for the construction of the physical infrastructure of the Balkan gas distribution centre.
Although the final feasibility study was supposed to be presented in September last year, the upcoming event is in line with recent changes to Bulgaria's Energy Strategy up to 2020 and this strategy's impact.
Sofia says that the Balkan Gas Hub would also transit and trade gas volumes from the Southern Gas Corridor and potential liquefied natural gas (LNG) sources. Bulgaria has secured one billion cubic meters a year of natural gas from Azerbaijan starting in 2020, while the main link to the Southern Gas Corridor, the Interconnector Greece-Bulgaria (IGB) is progressing well.
IGB is a gas pipeline, which will allow Bulgaria to receive Azerbaijani gas, in particular, the gas produced from Azerbaijan's Shah Deniz 2 gas and condensate field. IGB is expected to be connected to TAP via which gas from the Shah Deniz field will be delivered to the European markets.
The initial capacity of IGB will be 3 billion cubic meters of gas.
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