Brussels Gives 220 Million Euros for Chiren Gas Storage

Brussels Gives 220 Million Euros for Chiren Gas Storage

Bulgartransgaz has earned 220 million euros. in the frames of the CBC program for expanding capacity and increasing the flow of gas in Chiren, Vratsa. This was announced by the CEO of gas company George Gegov.
Now the volume of the underground storage is 550 million cubic meters, which is expected to be increased to 1 bn. cubic meters, said Gegov and specified that this amount would be enough to cover the consumption of Bulgaria for about 5-6 months.
The Chiren gas storage facility is an important part of the Borisov government's plans to build a gas hub in the country. The gas storage facilities need to cover failures in the system pressure - as with peaks in consumption and also in the case of drastic fall in temperatures.
Bulgaria has applied for additional funds from the European Commission for the rehabilitation of four compressor stations on the Northern gas ring, which is the second part of the program for the modernization of Bulgaria's gas transmission network, Gegov revealed.
Bulgartransgaz asked for EC assistance for the rehabilitation of facilities for a total of 174 million euros, Gegov revealed.
The financial result of Bulgartransgaz for 2015 is 100 million levs profit, which is more than expected, the CEO informed.


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