Bulgaria’s energy ministry said on October 11 that it has signed contracts for the supply of pipes and construction of the Greece-Bulgaria Gas Interconnector (ICGB) with Greek companies J&P-Avax and Corinth Pipeworks Industry, respectively.
The construction of the 123-km section of the interconnector on Bulgarian soil will begin next year, the energy ministry said in a statement.
In May, the ICGB project company picked Greece’s J&P-Avax to build the gas link for 144.8 million euros, while Corinth Pipeworks Industry was selected to supply line pipes worth 58.2 million euros for the project.
Earlier, the European Investment Bank (EIB) said that it will provide a 110 million-euro loan to state-owned Bulgarian Energy Holding to fund part of the ICGB project, which will also help establish a link with the Trans Adriatic Gas Pipeline (TAP).
“The project is a key part of the strategy for greater integration of European energy markets focusing on the Bulgaria-Greece, Bulgaria-Romania and Romania-Hungary interconnections,” the EIB said in a statement.
In August, Bulgaria issued a state guarantee for the loan.
The project is supported and co-financed by the European Union. The ICGB is included in the list of Projects of Common Interest (PCI), which includes key cross border infrastructure projects that link the energy systems of EU countries.
The gas link will connect the Greek gas transmission system in the area of Komotini to the Bulgarian gas transmission system in the area of Stara Zagora.
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Source: SeeNews
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