Bulgaria Completes Economic Test for 1.4 Bln Euro Turkey-Serbia Gas Transit Link

Bulgaria Completes Economic Test for 1.4 Bln Euro Turkey-Serbia Gas Transit Link

Bulgartransgaz said on Thursday that it has successfully completed the binding Phase 3 of the economic test for a 2.77 billion levs ($1.6 billion/1.4 billion euro) project for expanding Bulgaria's gas transit network from Turkey to Serbia. "Following the positive result of the economic test, Bulgartransgaz EAD took the final investment decision for the realization of the "Project for development and expansion of the gas transmission system" and will accordingly enter into binding capacity contracts with the candidates who submitted binding offers," the state-owned gas transmission system operator said in a statement. Bulgaria received three binding tenders in the first two phases of the open season procedure for booking incremental capacity at the future pipeline from the border with Turkey to the border with Serbia, which nominated about 90% of the exit capacity offered by Bulgartransgaz.

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