BEH, Poseidon Agreed on Conditions for Interconnector Greece-Bulgaria
Bulgaria’s Energy Minister Temenuzhka Petkova said on Monday that shareholders of the Interconnector connecting Bulgaria and Greece (IGB) have agreed on the conditions necessary to proceed with the project.
In a statement released on Tuesday, the Energy Ministry said that the parties should define a date to sign the Final Investment Decision (FID) by the end of the week.
Recently, Sofia decided to issue guarantees worth BGN 215 million (EUR 109 million) for the gas pipeline.
Bulgarian Energy Holding (BEH) and IGI Poseidon - a joint venture between Italy’s Edison and Greece’s Depa - are the promoters of the new high pressure gas interconnection between Greece (Komotini) and Bulgaria (Stara Zagora), with a reverse flow option.
Also on Tuesday, Bulgargaz confirmed that natural gas prices will decrease in the South Eastern European country.
European authorities are paying close attention to developments in the region.
“The Central Eastern and South-eastern European Gas Connectivity (CESEC) is a key initiative to ensure the creation of a truly cross-regional competitive energy market in Central and South Eastern Europe and to make it possible for every country to have access to at least 3 different gas sources," Vice-President of the Energy Union Maroš Šefčovič said in his speech at the Energy Infrastructure Forum. "CESEC held its first summit in February and in July, the participating countries already put forward a rigorous implementation of the most crucial gas infrastructure projects.”
Elsewhere in Europe, two more major infrastructure developments were announced. Also on Tuesday, the European Bank for Reconstruction and Development (EBRD) wrote about its financial support to the construction of new roads in Macedonia.
"We see the need for infrastructure development in the country as one of the key priorities for the EBRD’s work in FYR Macedonia," EBRD First Vice President Phil Bennett said. "Well-developed and modern transport connections will strengthen regional links and improve the access of remote areas to larger markets."
A few hours later, Serbia’s Minister of Foreign Affairs Ivica Dacic and France’s Minister of State for European Affairs Harlem Desir met in Belgrade.
"During the meeting it was concluded that there is a mutual desire to improve bilateral relations between the two countries, with special emphasis on economic, cultural and educational cooperation, which should be strengthened through concrete projects," reads the Serbian Government’s website.