site.btaFinal Investment Decision Signed for Greece-Bulgaria Intersystem Gas Connection

Final Investment Decision Signed for Greece-Bulgaria Intersystem Gas Connection

Sofia, December 10 (BTA) - ICGB shareholders Bulgarian Energy Holding and IGI Poseidon Thursday signed a final investment decision on the construction of a natural gas interconnector between Greece and Bulgaria in the presence of Prime Minister Boyko Borissov, Greek Energy Minister Panagiotis Skourletis, ministers, and representatives of the European Commission (EC).

Energy Minister Temenouzhka Petkova said that the signing of the final investment decision gives a real start to an energy project of strategic importance not only for Bulgaria and Greece, but also for the entire region of Southeastern Europe. In her words, the gas interconnector project will provide an opportunity for actual diversification of the sources of natural gas supply.

Petkova recalled that the project is a main part of the Southern Gas Corridor. According to the roadmap presented by the EC, the construction works should begin in October 2016 and the interconnector should be put into operation in mid-2018.

The Energy Minister noted that the implementation of the projects for gas connections with Greece, Romania, Serbia and Turkey will be at the basis of the implementation of Bulgaria's concept for the construction of a gas distribution centre on its territory. The project is in unison with the European Energy Union's principles and will lead to secure gas supplies and development of the energy market, she added.

Greek Energy Minister Skourletis said that the present day is very important for Greece, Bulgaria and Europe as a whole, and noted the project's strategic significance.