site.btaPMs of Bulgaria, Greece Sign Declaration of Political Support for Completion of Bulgaria-Greece Gas Interconnector

Brussels/Sofia, June 29 (BTA) - In the presence of European Commission President Jean-Claude Juncker in Brussels Friday, the Prime Ministers of Bulgaria and Greece, Boyko Borissov and Alexis Tsipras declared political support for the completion of the Bulgaria-Greece gas interconnector, said the Bulgarian government press office. The declaration of support was signed on the sidelines of the European Council in Brussels.

It says that the two sides support the ambitious timeframe for carrying out the project activities. The declaration provides for opening construction work on the interconnector before the end of 2018 and seeing it commissioned in 2020 which is when Azer gas is expected to start flowing via the Trans Adriatic Pipeline.

The Prime Ministers of the two countries will be following closely the progress of project works so as to ensure its timely completion.

The Greece-Bulgaria interconnector is a strategic project for diversification of the natural gas sources and supply routes to Southeast Europe. Its construction will offer Europe additional gas sources, more specifically gas from the Caspian region via TAP as well as liquefied gas from Greece.

The project is among seven priority project for the European Commission, included in the South-Eastern European Gas Connectivity (CESEC) initiative. It will enhance the connection of energy markets, competition and security of gas supplies to Southeast Europe.

Energy Minister Temenouzhka Petkova Friday said that the Greece-Bulgaria interconnector is a project beyond the borders of the two countries, with a strategic significance for the entire region of Central and Southeastern Europe. She was speaking at a ceremony to launch investments and construction held at Boyana Residence in Sofia.

Petkova went on to say that the interconnector will also contribute to securing natural gas supplies at competitive prices.

The development of the project is a key priority in the energy field, Petkova pointed out. It is not by chance that it has set down a state guarantee to the amount of 110 million euro in its budget for the past three years, she added.

All three public procurement procedures related to the implementation of the project have already been opened: the selection of a consulting engineer, a supplier of pipes, as well as a builder.

Commenting the interconnector project, Energy and Water Regulatory Commission (EWRC) Chairman Ivan Ivanov said it will increase energy security in Southeastern Europe, provide the important connection for the development of the vertical gas corridor and a horizon for the future connectivity in the region. This gas connection will also contribute to a common natural gas market and regional exchange.

Ivanov expressed hope that the interconnector will become operational in the second half of 2020, successfully crowning the efforts of all who have worked on the project.