site.btaBulgaria, European Commission Agree to Work Jointly on Balkan Gas Hub Project

Bulgaria, European Commission Agree to Work Jointly on Balkan Gas Hub Project

Sofia, December 10 (BTA) - The Bulgarian Government and the European Commission agreed to establish a joint working group to support the development of a marketing concept, business and financial plan for the Balkan Gas Hub, the Government information service said Thursday.

The working group, which was announced by Bulgarian Deputy Prime Minister for EU Funds and Economic Policy Tomislav Donchev and Klaus-Dieter Borchardt, Director, Internal Energy Market with the European Commission, will begin its work with an assessment of legal, regulatory and financial aspects of the project. It will also focus on identifying solutions to major challenges in the development of a stable regulatory framework and business environment, aiming to facilitate the connection between Bulgaria and the rest of Southeast Europe.

"The geographic location of Bulgaria and the existing gas infrastructure provide a stable foundation for the development of a regional gas hub," Donchev said at the launch of the joint working group, adding that the government pays efforts to create a stable regulatory framework and a well-developed commercial environment in accordance with EU legislation. The Balkan Gas Hub project supports Bulgaria's strategy to diversify its energy supplies and routes. It is also in line with the needs of the region identified by the High Level Group for gas connection of Central and Eastern Europe and the EU Energy Union strategy.

On behalf of EU Commissioner Miguel Arias Canete, Klaus-Dieter Borchardt stressed the great interest of the European Commission in the development of the gas sector in Southeast Europe to ensure the supply for all countries in the region. The establishment of a regional gas centre in Bulgaria can be an important springboard for achieving this goal. Therefore, the EU Commissioner for Climate Action and Energy, Miguel Arias Canete, hailed the establishment of this working group.

Borchardt concluded that the European Commission takes into account Bulgaria's progress in the development of gas infrastructure, in pushing forward its regulatory projects, as well as the acquis communautaire as an integral part of the work required for the Balkan Gas Hub project.