site.bta14th Gas Infrastructure Europe Annual Conference Takes Place in Sofia

14th Gas Infrastructure Europe Annual Conference Takes Place in Sofia

Sofia, June 9 (BTA) - Bulgaria has been working actively for diversification of the gas flows and supplies, Prime Minister Boyko Borissov said Thursday in an address to the participants in the 14th Gas Infrastructure Europe Annual Conference held in Sofia.

Participating in the forum are Bulgartransgaz Executive Director Georgi Gegov and senior executives of 68 natural gas companies from over 24 European countries.

In his address the Prime Minister dwelled on the climatic changes and stressed the importance of the development of renewable energy sources.

In a global world, there should be responsible and strong partners in order to be strong and successful, Borissov said adding that the European Commission is the most suitable in this respect. The Prime Minister said he is happy that the Balkan gas is among the priority projects of the European Commission.

The gas supplies determine the policy of many countries. The Russian gas supplies should be used in accordance with European rules, Borissov also said. "At the same time we should prepare the gas pipelines for the diversification," he added. "With efforts and diplomacy we achieved the lowest prices of natural gas in Europe," the Prime Minister stated.

The European Commission has recognized six projects implemented by Bulgartransgaz as investments of particular importance for the security and diversification of natural gas supply in Europe, Bulgartransgaz Executive Director Georgi Gegov said. He listed the six projects in question: increasing the capacity of the Chiren gas storage facility - 220 million euro, a project for rehabilitation, modernization and extension of the existing has transit system - 147 million euro, a project for the construction of a gas hub on the territory of Bulgaria, a project for the construction of a gas pipeline to increase system connectivity between the national gas transit network of Bulgartransgaz and the gas transit network of Transgaz, Romania, and the East Ring project.

Gegov said that Bulgartransgaz's hosting of the event comes at the right time. He noted the steps made in key infrastructure projects thanks to which Bulgaria has all the advantages to contribute to the attainment of important priorities of the European energy policy related to improvement of the security of supplies, diversification of natural gas sources, and having a single European energy market.

The development of the infrastructure in Bulgaria is closely bound with the positioning of the country as a gas hub in Southeast Europe, Gegov said, noting the key importance for the market integration of the gas interconnectors with Bulgaria's neighbours: Turkey, Greece, Serbia and Romania.

Gegov said further that in less than six months, Bulgaria has commissioned four modernized compression stations to the total value of 200 million leva.