Govt Declares Bulgaria-Greece Gas Link Project of National Significance

Govt Declares Bulgaria-Greece Gas Link Project of National Significance

Bulgaria's government declared the construction of a gas pipeline linking the country's network with Greece's network as a project of national significance.

The Greece-Bulgaria gas interconnection pipeline is a project of strategic importance to both countries, as it enhances security and provides for diversification of gas supplies in Southeastern Europe, the government said in a statement on Wednesday.

The project company established by the state-run Bulgarian Energy Holding and IGI Poseidon, a 50/50 partnership between Greece's DEPA and Italy's Edison, has already secured EU co-financing of 45 million euro ($56.2 million) under the European Energy Programme for Recovery.

The 170-kilometre interconnector between Stara Zagora and Komotini will have a transit capacity is of 3.0 billion cubic metres (bcm) per year, which could be increased to 5 bcm annualy, with reverse flow capability.

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