Key contracts signed for Greece-Bulgaria Gas Interconnector

Photo: BGNES Temenouzhka Petkova (R) and Konstantinos Hatzidakis

Key contracts for the Greece-Bulgaria Gas Interconnector were signed Thursday at the Ministry of Energy. Both parties signed a tax regime agreement for the Interconnector project, as well as other contracts connected to key commitments and activities for the construction of the interconnector, including a loan agreement between the European Investment Bank and Bulgarian Energy Holding EAD, gas transmission agreements, etc.

Energy Minister Temenouzhka Petkova said that this is an important day, which will enable the implementation of this long-awaited project that is key not only for Bulgaria but also for Southeast Europe. According to her, this project will bring change to the whole region and guarantee its energy security. According to Petkova with the documents signed today, the project for the construction of the interconnector between Bulgaria and Greece is already irreversible and its work is guaranteed in the coming decades. The commercial operation of the interconnector will begin in the second half of 2020.
Greece's Energy and Environment Minister Konstantinos Hatzidakis said the final contract for the project was signed today, adding that it was 10 years in the making. Hatzidakis criticized the delay and noted his hopes that such things will not happen in the future.
The Greece-Bulgaria interconnector will be able to supply Caspian gas from the Trans-Adriatic gas pipeline (TAP) and liquefied gas from Alexandroupolis. In addition, this project is proof of the good cooperation between Bulgaria and Greece, Hadzidakis also said.

Similar articles

  • Vivacom buys landline-based providers Net1, ComNet Sofia, N3

    Vivacom buys landline-based providers Net1, ComNet Sofia, N3

    Vivacom has finalised a series of deals to acquire 100% of the capital of landline-based internet and TV providers Net1, ComNet Sofia and N3 after securing approval from the relevant regulators. The acquisitions are part of the strategy of the company - now part of United Group, a leading telecommunications and media operator in Southeastern Europe - to expand its network of landline services for homes and businesses.

  • Bulgarian investor builds smart plant near Plovdiv

    Bulgarian investor builds smart plant near Plovdiv

    The construction of BGN 40 million production plant for aluminium profiles, the largest on the Balkans, has started in Trakia Economic Zone. Minister of Economy Lachezar Borisov presented a Class A investment certificate to Zdravko Linkin, chairman of the board of directors of Interlink Group AD. This happened on 31 March at the turning of the first sod of a high-tech plant for aluminium profiles in Maritsa Industrial Zone, which is part of Trakia Economic Zone.

  • Fitch raises Bulgaria's credit rating

    Fitch raises Bulgaria's credit rating

    The global credit rating agency Fitch Ratings raised from stable to positive the outlook over Bulgaria's Long-Term Foreign-Currency and Local-Currency credit rating. The country's BBB rating was affirmed. This was announced by the Ministry of Finance's press centre.