BAKU, Azerbaijan, November 27. The Interconnector Greece-Bulgaria (IGB) is set to create new market opportunities and will enhance international partnerships in the South-East Europe, Trend reports citing the China-CEE Institute.
The Institute’s report says that as part of the development of the Southern Gas Corridor, through IGB Bulgaria and its neighboring countries will have access to alternative supplies from the Caspian region as well as from existing or planned LNG terminals.
"The project is a game-changer for the Bulgarian energy market with its ability to increase the competition and decrease the prices for consumers while securing diversified gas deliveries. IGB is being developed in great synergy with the LNG terminal near the Greek city of Alexandroupolis, which is set for completion by the end of 2023. With the terminal’s implementation, IGB’s capacity may see a significant boost of up to 5 bcm/y, which will further ensure the independent energy deliveries in the region."
IGB connects Bulgaria with the Southern Gas Corridor and will enable secure supplies from a variety of sources to several countries in Southeast and Central Europe, including Moldova and Ukraine.
The pipeline is set to transport 1 billion cubic meters of Azerbaijani gas per year to Bulgaria. Its capacity is 3 billion cubic meters with the possibility of expanding to 5 billion cubic meters per year.
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