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Bulgaria will get its natural gas supply from Greece

05 March 2010 / 13:03:46  GRReporter
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The road for the construction of the pipeline, which will supply Bulgaria from Greece, is open. The deal is between ΙGΙ Ρoseidon (in which equally participating are the public gas company DEPA and the Italian Εdison) and Βulgarian Εnergy Ηolding and was signed yesterday in Thessaloniki. The stipulation is to create a company that will undertake the construction of the pipeline between Bulgaria and Greece (Greece-Βulgaria Ρipeline-ΙGΒ), wrote in an article Vima newspaper. 

Important for the project are European subsidies for connecting Bulgaria with the Greek-Italian gas pipeline, said deputy minister of environment and climate change Yannis Mayatis. The budget for implementing the project will reach €140 million, but there is possibility that the EU will subsidize the project with €45 million. The pipeline is expected to be ready in 2013. 

The Greek-Bulgarian connection starts from the end of the Greek-Turkish pipeline in Komotini and reaches Stara Zagora and the total length will be 168 kilometers, with initial expected transfer rate between 3-5 billion cubic meters annually. There is a possibility for extension depending on whether there is enough gas and what the conditions of supply and demand are. The Greek-Bulgarian pipeline is part of the Turkish-Greek-Italian pipeline (ΙΤGΙ), which will supply Europe with around 8 billion cubic meters of natural gas per year, coming from the Caspian countries. 

Except for this agreement between the two countries, it is likely that there will be another important agreement signed between Bulgaria, Greece and Turkey. The Greek Government took the initiative to find a solution to the problem of the overflowing each year Maritza River. After previously agreeing with Bulgarian PM Boyko Borisov, Prime Minister George Papandreou promised to raise the issue at the meeting he will have with Tagip Erdogan.

Tags: Greece Bulgaria Turkey pipeline
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