site.btaCooperation between Bulgaria, Greece Promotes Diversification of Natural Gas Supplies in Southeastern Europe

Sofia, July 10 (BTA) - The diversification of routes and sources for natural gas supplies in Southeastern Europe has become possible thanks to the excellent cooperation between Bulgaria and Greece. Bulgarian Energy Minister Temenouzhka Petkova and Greek Minister of Energy and Environment Giorgos Stathakis rallied around the idea during a meeting here on Monday.

It is in the interests of both countries that the projects for an interconnector between Greece and Bulgaria and a LNG terminal at Alexandroupoli complement each other rather than compete. Their implementation will create conditions for competition which will have a positive effect on the natural gas prices in the regions, the two ministers concurred.

Bulgarian Energy Minister Petkova said that the contractor for the construction of the interconnector will be procured in the autumn of 2017 and works will begin in the second half of 2018.

Petkova said that some 35 million euro in additional financing will be allocated under the Operational Programme for Innovation and Competitiveness,

Greek Energy Minister Stathakis added Greece has put aside some 12 million euro for the project under EU structural funds,

Within the framework of the visit of the Greek delegation, a working group met to study ways for Bulgaria to participate through the Bulgarian Energy Holding in the implementation of the LNG terminal projects in Alexandroupoli. A final investment decision will be made in the first quarter of 2018. The terminal is set to go into operation in the first quarter of 2020 in order to be developed simultaneously with the Bulgaria-Greece gas interconnector.