Ambassador: IGB is priority for Greece, for EU energy strategy (Exclusive)

Oil&Gas Materials 21 May 2019 16:50 (UTC +04:00)

Baku, Azerbaijan, May 21

By Leman Zeynalova – Trend:

Interconnector Greece-Bulgaria (IGB) is a priority project for Greece and for the European Union’s (EU) energy strategy, Greek Ambassador to Azerbaijan Nicolaos D. Kanellos told Trend ahead of the groundbreaking ceremony of the interconnector to be held May 22.

“Greece supports the policy for the diversification of energy sources and routes. In this context, I believe that no country should depend entirely on one, single supplier, through an exclusive route of energy sources. This aplies also to the common policy that we have as the members of European Union. The Vertical Gas Corridor (Greece Bulgaria-Romania-Hungary, possibly Ukraine, Serbia and Republic of Moldova) represents an excellent choice for enhancing the diversification of the energy sources in the region. The IGB (Greece-Bulgaria Interconnector), as an essential part of the Vertical Corridor, constitutes a priority project for Greece, but also for the European Union's energy strategy. The Interconnector Greece-Bulgaria is a strategic project for the diversification of sources and routes for the supply of natural gas to the Southeast European region,” he said.

Kanellos noted that its construction will provide Europe with natural gas from additional sources, from the Caspian region through the Trans-Adriatic gas pipeline, as well as liquefied natural gas from Greece.

“The Greece-Bulgaria Interconnector is among the seven priority projects for the EC and is part of the CESEC Initiative for Gas Connectivity in Central and Southeastern Europe. The mplementation of the pipeline will contribute to connecting the energy markets, increasing competition and ensuring security of gas supplies in Southeast Europe,” noted the envoy.

"In a moment of many big changes and unstable policies the IGB will further enhance our role as an "energy security provider" for Europe.

“Greece is becoming a natural gas hub for SE Europe. Important elements to this are: the delivery of natural gas from the Caspian through the Southern Gas Corridor and the TAP pipeline and the access to liquefied natural gas in the Aegean, through the existing terminal at Revythoussa which is upgrading significantly, and the planned liquefied natural gas Alexandroupolis. We understand the Vertical Corridor as an energy chain linking infrastructure in our broader neighborhood, promoting regional cooperation and gasification and making markets more competitive,” added the ambassador.

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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