30 May 2019
Kirkovo, Bulgaria, has started building a gas pipeline with Greece that will end the Balkan country’s total dependence on Russian gas.
According to Reuters, the 240 million euro ($268 million) gas pipeline will help diversify supplies in southeastern Europe. The 182-km interconnector link between Bulgaria and Greece will be ready by the end of 2020 to transport mainly Azeri gas to Bulgari.
The 32 inch (813 mm) diameter pipeline diameter has a projected capacity of up to 3 billion m3/a, with the option to increase its capacity up to 5 billion m3/a following market evolution.
Bulgarian Prime Minister Boyko Borissov says, “The project is of strategic importance not only for our two countries, but for the whole of Europe, including the countries in the Western Balkans”, according to Reuters.
“It will lead to real diversification of gas supplies”.
The Natural Gas Interconnector Greece-Bulgaria Pipeline is being constructed by the ICGB AD Joint Venture, comprising BEH EAD (50 per cent) and IGI Poseidon (50 per cent).
The construction will begin works near the village of Kirkovo, 15 km north of the border with Greece.
SEPTEMBER 20, 2016
Partners Shiri Shaham and Simon Weintraub at Israeli law firm Yigal Arnon & Co explore the natural gas industry in Israel.
After years of deliberations, negotiations and amendments, the Israeli government recently adopted its final framework for the regulation of the burgeoning natural gas sector.
This exciting development is a reflection of the country’s vibrant democracy, strong rule of law, and climate of regulatory certainty; it will hopefully foster geopolitical stability in the eastern Mediterranean basin, and will potentially promote economic co-development projects and unprecedented investment opportunities in the region.
SEPTEMBER 8, 2016
A preliminary agreement has been reached between Cyprus and Egypt for the construction of a subsea pipeline between the two countries.
The proposed pipeline will transport natural gas from Cyprus to Egypt, where it will enter the nation grid or be transferred to LNG facilities.
Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla said the deal was mutually beneficial for both countries.
He said the agreement would continue to unlock and promote the potential of the Eastern Mediterranean, boosting Egypt’s position as a regional energy hub.
