By Kostis Geropoulos, Energy & Russian Affairs Editor, New Europe
Greece and Bulgaria discussed the development of a natural gas pipeline between the two countries on October 5 in Sofia in the framework of a Market Test for the project that would link the southeast European energy market.
According to an emailed press release from the Greek Energy and Environment Ministry, Minister Panos Skourletis, his Bulgarian counterpart Temenuzka Petkova and the ICGB consortium discussed the Interconnector Greece Bulgaria (IGB). Talks focused especially on plans to build a floating liquefied natural gas (LNG) terminal in Alexandroupolis, the completion of the reverse flow pipeline between the two countries and bilateral energy cooperation issues.
Skourletis highlighted the strategic importance of IGB for the energy security of Europe, the diversification of energy sources and routes and the economies of Greece and Bulgaria.
He reminded that IGB could be connected with the planned Trans Adriatic Pipeline (TAP), boosting the Southern Gas Corridor, which “marks a new era for the supply of Europe with natural gas”. TAP is a natural gas pipeline project, which will start in Greece and crosses Albania, and the Adriatic Sea to end in southern Italy bringing gas from the Caspian region to European markets.
Skourletis told a press conference the second and final phase of the Market Test for the IGB “is a good opportunity to boost energy security and secure competitive prices for natural gas. It is also an opportunity for the companies that are interested in playing a role in the supply of southeast Europe. Now it’s the time to secure the viability of the project that will bring multiple benefits to all of us in the coming years”.
He said one of the future advantages of IGB is its connection with the floating LNG terminal (FSRU) in Alexandroupolis. “It is a mature project in terms of licensing that has been listed as a project of Common Interest (PCI) of the European Union,” Skourletis said, highlighting the importance of LNG in creating energy hubs in the region.
For her part, Petkova told the press conference that Bulgaria is examining its participation in the floating LNG terminal in Alexandroupolis with a stake up to 25%. For that reason, Petkova told Skourletis her country has formed a working group that will study the economic and technical parameters of the project and present its report by the end of October. The Bulgarian energy minister said IGB is important not only for Bulgaria and Greece but also for the entire region and the European Union as a whole.
Petkova announced that the connecting pipeline between Bulgaria and Romania would be finished by end of the month while there are efforts to implement interconnecting pipelines with Serbia and Turkey.
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