EC Clears State Aid for Greece-Bulgaria Gas Link

EC Clears State Aid for Greece-Bulgaria Gas Link

The European Commission said on Thursday that it has found the planned measures by Greece and Bulgaria, in support of the construction of a natural gas interconnector between the two countries, to be in line with EU state aid rules. "The new gas interconnector between Greece and Bulgaria will increase the security of energy supply and enhance competition, to the benefit of citizens in the region. We have approved the support measures to be granted by Bulgaria and Greece because they are limited to what is necessary to make the project happen and therefore are in line with our State aid rules," Margrethe Vestager, commissioner in charge of competition policy, said in a statement. The measures by the two countries include a fixed corporate tax regime that will apply to the project company - ICGB, for 25 years from the start of commercial operations, as well as a 39 million euro direct financial contribution by Bulgaria via the Bulgarian Operational Programme Innovation and Competitiveness 2014-2020.

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