Balkan Companies Signed the Vertical Corridor MOU
National gas transmission system operators (TSOs) of Bulgaria, Greece, Romania, and Hungary signed a memorandum of understanding on the implementation of a Vertical Gas Corridor July 19.
The MOU was inked by Bulgaria’s Bulgartransgaz, Greece’s Desfa, Hungary’s FGSZ and Romania’s Transgaz in Bucharest, Romania.
The Interconnector Greece-Bulgaria (ICGB) also joined the initiative as it is of strategic importance for the Vertical Gas Corridor. ICGB, which will link the gas transmission systems of Bulgaria and Greece is equally owned by Bulgarian Energy Holding and Greece-registered IGI Poseidon, which in turn is equally owned by Greek supplier Depa; and Edison, the Italian subsiidary of EDF.
According to Bulgartransgaz, the document followed an MOU signed September 2016 by the energy ministers of the above countries during a meeting of the Central and South East European Gas Connectivity Group (Cesec).
The MOU sets a framework for co-operation between the gas companies aiming to set up “a corridor for bi-directional natural gas transport, interconnecting the networks of Bulgaria, Greece, Romania, and Hungary.”
The companies agree the MOU will serve as the basis for improving co-operation on a plan to build a gas transmission system to transport gas from Greece through Bulgaria and Romania to Hungary as well as in the opposite direction, the Bulgaria energy ministry said.
Considering the geographic location of all four countries, the improvement of their national infrastructures and the construction of the missing interconnections will contribute to achieving the objectives of the European energy union, the statement said.
The Vertical Gas Corridor concept aims to ensure uninterrupted supplies in both directions while promoting the EU’s priority projects: the North-South Corridor and the Southern Gas Corridor.