Greece and Bulgaria pledged to accelerate the construction of the Interconnector Greece-Bulgaria (IGB) in tandem with the Trans Adriatic Pipeline (TAP), Trend reports with reference to the Joint Declaration of the 4th High Level Cooperation Council between the Government of the Hellenic Republic and the Government of Bulgaria.

“We welcome the substantial progress that has been achieved, as a result of our joint efforts, in the realization of the gas interconnection pipeline project between Greece and Bulgaria, namely the IGB pipeline.

Having in mind that the Intergovernmental Agreement regarding this project was signed on October 10th 2019 in Sofia and the construction phase of the project is already underway, the sides reiterated that the IGB pipeline contributes to the establishment of a vertical gas corridor aiming to ensure access to diversified supplies for the region.

“The two governments will implement all efforts to accelerate the construction of IGB in tandem with TAP. Consolidating our operational infrastructure constitutes a prerequisite for an efficiently operating integrated energy market and the enhancement of our region’s security of supply, via the diversification of sources and routes,” reads the statement.

The Interconnector Greece-Bulgaria project envisages a two-stage development.

In the first stage, the pipeline capacity will be 3 billion cubic meters of gas, of which 2.7 billion cubic meters will be offered for the long-term market, the remaining share of 0.3 billion cubic meters in the short term.

In a second phase, also depending on the evolution of the market, the capacity of the pipeline can be increased to 5.3 billion cubic meters of gas thanks to the addition of a compression station: 4.5 billion cubic meters of gas 0.5 billion cubic meters of short-term gas will be offered for long-term products.

#ECONOMY

#GAS

#BULGARIA

#INFRASTRUCTURE

#TAP

#GREECE

#IGB

#INTERCONNECTOR

#PIPELINE

27.02.2020 13:09