Bulgaria updates on construction of gas interconnector with Greece
BAKU, Azerbaijan, Dec.28
By Leman Zeynalova – Trend:
Route clearing and construction of temporary camps is underway as part of construction of the Interconnector Greece-Bulgaria (IGB), said Bulgaria’s Energy Minister Temenuzhka Petkova, Trend reports citing the ministry.
She noted that the construction of Interconnector Greece-Bulgaria kicked off this year. The project’s financing has been fully guaranteed and a loan agreement with the European Investment Bank (EIB) has been signed under very good conditions.
Petkova pointed out that the implemented energy projects enable Bulgaria to maintain its strategic place on the European energy map, and for Bulgarian citizens and businesses to benefit from competitive prices for decades.
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 Interconnector Greece-Bulgaria project envisages a two-stage development.
In the first stage, the pipeline capacity will be 3 billion cubic meters of gas, of which 2.7 billion cubic meters will be offered for the long-term market, the remaining share of 0.3 billion cubic meters in the short term.
In a second phase, also depending on the evolution of the market, the capacity of the pipeline can be increased to 5.3 billion cubic meters of gas thanks to the addition of a compression station: 4.5 billion cubic meters of gas 0.5 billion cubic meters of short-term gas will be offered for long-term products.
Follow the author on Twitter:@Lyaman_Zeyn