Bulgaria's BEH, EIB Sign MoU on Gas Link Construction - ICGB

Bulgaria's BEH, EIB Sign MoU on Gas Link Construction - ICGB

ICGB, the company developing the Gas Interconnector Greece-Bulgaria project, said on Friday that state-owned Bulgarian Energy Holding (BEH) signed a Memorandum of Understanding (MoU) with the European Investment Bank (EIB) on the construction of a gas connector between the two countries."The memorandum concerns securing preferential loan financing in connection with using the state guarantee of Bulgaria (expected 110 million euro) and is a key step in IGB’s realization. The preferential loan is one of the main sources of funding for the project," ICGB said in a statement. ICGB has also signed an agreement for cooperation with the Trans Adriatic Pipeline (TAP) for connectivity of the two gas pipelines. Connecting with the Trans Anatolian Pipeline (TANAP) at Greece's border with Turkey, TAP will stretch across northern Greece, Albania and the Adriatic Sea before reaching Italy's coast where it will connect to the Italian natural gas network."This really is a strategic project which – via important synergies - enables gas from the Southern Corridor, and LNG facilities in Greece, to flow into the Bulgarian gas network and further into the South-Eastern Europe region,” Konstantinos Karagiannakos, executive director on the Greek side for ICGB, said.

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