BAKU, Azerbaijan, Feb.10
By Leman Zeynalova – Trend:
Bulgartransgaz EAD of Bulgaria plans to attract up to 155 million euros to finance its key projects, Trend reports citing the company.
The company has published an invitation to tender for bank financing in the form of a credit to cover its operating and investment costs.
The company is in a stage of realising key projects, aimed at the diversification of the sources and increase of the security of natural gas supplies to Bulgaria and the region. Bulgartransgaz EAD carries out projects that are targeted at keeping the key role of the country as an important regional gas distribution hub and projects meant to expanding the gas transmission network to regions in Bulgaria. Such projects are the expansion of the capacity of the underground gas storage facility Chiren, the involvement in the liquefied natural gas terminal near Alexandroupolis, Greece, the Interconnection Bulgaria-Serbia and the gas transmission branches to the municipalities of Panagurishte, Pirdop, Svishtov, Bansko and Razlog.
The purpose of this procedure is the provision of financial resource for the realisation of the company’s investment programme. Within the procedure Bulgartransgaz EAD aims to attract up to EUR 155 million with a repayment term of 6 years. A reference point for the price of the sought financial resource is the result of an analogous procedure, launched by Bulgartransgaz EAD in June 2020. A key condition within this procedure is the price of the financing to be lower than 2,5 percent per year.
The raised resource will help the active and consistent actions of Bulgartransgaz EAD to increase the security of supply and develop a competitive and transparent natural gas market in the country and the region.
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