Key Contracts Signed for Greece-Bulgaria Gas Interconnector Construction

Key contracts for the Greece-Bulgaria Gas Interconnector were signed Thursday at the Ministry of Energy. Both parties signed a tax regime agreement for the Interconnector project, as well as other contracts connected to key commitments and activities for the construction of the interconnector, including a loan agreement between the European Investment Bank and Bulgarian Energy Holding EAD, gas transmission agreements, etc.

Energy Minister Temenouzhka Petkova said that this is an important day, which will enable the implementation of this long-awaited project that is key not only for Bulgaria but also for Southeast Europe. According to her, this project will bring change to the whole region and guarantee its energy security. According to Petkova with the documents signed today, the project for the construction of the interconnector between Bulgaria and Greece is already irreversible and its work is guaranteed in the coming decades. The commercial operation of the interconnector will begin in the second half of 2020.

Greece's Energy and Environment Minister Konstantinos Hatzidakis said the final contract for the project was signed today, adding that it was 10 years in the making. Hatzidakis criticized the delay and noted his hopes that such things will not happen in the future.

The Greece-Bulgaria interconnector will be able to supply Caspian gas from the Trans-Adriatic gas pipeline (TAP) and liquefied gas from Alexandroupolis. In addition, this project is proof of the good cooperation between Bulgaria and Greece, Hadzidakis also said.

  Source: BTA