Energy Minister Discusses Progress in Greece-Bulgaria Interconnector Project

Energy Minister Discusses Progress in Greece-Bulgaria Interconnector Project

The Greece-Bulgaria gas interconnector is an exceptionally important project not only for the two countries, but also for the whole EU, Energy Ministry Temenouzhka Petkova said at a meeting with the Bulgarian Energy Holding's partners in the project, the Greek-Italian consortium POSEIDON, Petkova's ministry said in a press release Monday. 
The two sides discussed the progress made in the project's implementation, the activities under the elaborated roadmap and the need of subsequent actions for the project's acceleration. 
Petkova acquainted her guests with her talks on the this topic with European Commission Vice President Maros Sefcovic, who confirmed the EU serious interest in the project. "We have been assured that the Commission will provide the funding needed for the interconnector's construction, but we have to follow the steps outlined in the roadmap," Petkova told the representatives of the Greek-Bulgarian consortium. 
The Energy Ministry said that the Bulgarian side is working on accelerating the project and confirmed that there is a 80 million euro state guarantee for it in this year's budget. This is a sign of the strategic significance that the interconnector has for Bulgaria, she added. 
The POSEIDON consortium said that the project is of exceptional importance for them, too. They specified that they wish to sign a final investment decision by May 29, once a new agreement is signed that will accelerate the project's development in accordance with the schedule set in the roadmap. This will allow the construction works to start in March 2016 and the project to be finished in 2018. 
The Greece-Bulgaria interconnector is Bulgaria's link to the Southern Gas Corridor. Its construction is very important for securing the diversification of the sources and routes of gas supplies to the country and the whole region, the Energy Ministry's press release reads. 
 
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