160 million Euro to be needed for Caspian gas deliveries to Bulgaria

According to the memorandum of mutual understanding and cooperation signed between the consortium of the trans-Adriatic pipeline (TAP) and ICGB company, which is in charge of development, funding and construction of the connecting pipeline Greece-Bulgaria, it is planned to invest 160 million Euro.

Euractive reported that construction of the Greece-Bulgaria pipeline will begin in 2014 and the costs will be mainly repaid at the expense of inpayments from the European Commission and the European Bank for Reconstruction and Development (EBRD).

The pipeline is expected to be put into operation in 2016. This will allow Bulgaria, which is fully dependent on the Russian gas deliveries, getting an alternative source of energy carriers.

The pipeline could be also used to deliver gas to the South-Eastern  Europe.

The length of the connecting gas pipeline with the diameter 700 mm will be 168.5 km, of which 140 km will fall to the territory of Bulgaria. The pipeline will allow delivering 3-5 billion cub.m. of gas a year to the European markets.

* On September 19, 2013  Bulgargaz company signed a contract on purchase-sale of gas from the Shah-Deniz-2 project with SOCAR. According to the contract, the Bulgarian company will buy 1 billion cub.m. of gas from the TAP pipe-bend within 25 years.—0—