Tuesday, July 25, 2017

Bulgaria to open tender for building gas link with Greece in autumn - SEE NEWS

Ministry of Energy/All rights reserved.
SOFIA (Bulgaria), July 25 2017

Bulgaria intends to launch a tender for the construction of a gas interconnection with Greece this autumn, energy minister Temenuzhka Petkova said on Tuesday.

In parallel, Bulgaria also intends to launch a new gas market test this autumn, Petkova said in a press release following a meeting with U.S. ambassador to Bulgaria, Eric Rubin.

The construction of the interconnector Greece-Bulgaria is planned to start in 2018. The link providing for gas flow in both directions is expected to become operational in 2020.

The project is being implemented according to the planned timeframe, Petkova said.

Bulgaria will seek 35 million euro ($40.8 million) in EU financing for the project.

The project for connecting the gas transmission systems of Bulgaria and Greece is being implemented by joint venture company ICGB, registered in Bulgaria in 2011, with state-owned Bulgarian Energy Holding (BEH) and Greece-registered IGI Poseidon holding equal shares. Greek public gas corporation DEPA and Italian energy group Edison own 50% each of IGI Poseidon.

($ = 0.8577 euro)