Subscribe

 

Sunday, September 27, 2020

Greece-Bulgaria sign deal to start building gas pipeline

Hellenic News
Hellenic News
The copyrights for these articles are owned by HNA. They may not be redistributed without the permission of the owner. The opinions expressed by our authors do not necessarily reflect the opinions of HNA and its representatives.

Latest articles

Tinos Food Paths: preserving heritage

The whole idea behind Tinos Food Paths, Giorgos says, is “to keep the chain of knowledge alive from one generation to another.” Soft spoken, young...

Συμμετοχήτου Επιμελητηρίου Καβάλας στην 1st Virtual Hermes Expo στην Αμερική, 28 Σεπτεμβρίου 2020-1 Οκτωβρίου 2020

Το Επιμελητήριο Καβάλας, μέλος του Ευρωπαϊκού Δικτύου Στήριξης Μικρομεσαίων Επιχειρήσεων, EnterpriseEuropeNetwork, σας ενημερώνει ότι θα συμμετέχει στην 1st VirtualHermes Expo στην Αμερική, 28 Σεπτεμβρίου...

Senator Leonidas Raptakis: Consider Early Voting in Person

CONSIDER EARLY IN-PERSON VOTING AS SAFEST OPTION  Anyone who has spent the last few months working from home understands this pandemic creates logistical difficulties. From...

Secretary Pompeo’s Visit to Greece Timely, Demonstrates Importance of U.S.-Greece Strategic Partnership

American Hellenic Institute (AHI) President Nick Larigakis wrote to Secretary of State Mike Pompeo ahead of his planned visit to Greece next week, which...

Το Βασικό Πιστοποιητικό Του Δήμου Για Την Κληρονομιά

Για την ολοκλήρωση της διαδικασίας της αποδοχής κληρονομίας, ώστε το σύνολο ή ποσοστό της κληρονομίας (ακίνητα, κινητά, υπόλοιπο τραπεζικών λογαριασμών κλπ.) να αποκτηθούν κατά...

Hermes Expo Announces Webinar Schedule for First-Ever Virtual Expo

The first-ever Virtual Hermes Expo is America’s most anticipated virtual vendor exhibition and webinar conference for Greek, Greek-American, and Philhellenic businesses and professionals. This...

Ο ΑΡΧΙΕΠΙΣΚΟΠΟΣ ΕΛΠΙΔΟΦΟΡΟΣ ΣΥΝΑΝΤΑΤΑΙ ΜΕ ΤΟΝ ΥΠΟΥΡΓΟ ΕΞΩΤΕΡΙΚΩΝ ΤΩΝ Η.Π.Α. MIKE POMPEO

Νέα Υόρκη – Ο Σεβασμιώτατος Αρχιεπίσκοπος Αμερικής κ. Ελπιδοφόρος συναντήθηκε σήμερα με τον Υπουργό Εξωτερικών των Η.Π.Α. Mike Pompeo, προκειμένου να συζητήσουν μία σειρά από σημαντικά...

Bulgaria and Greece on Thursday signed a final investment agreement to build a natural gas pipeline to help Sofia reduce its almost complete reliance on Russian gas supplies.

The 180 km pipeline will be built by a Bulgarian-Greek joint venture that also includes Italian energy group Edison SpA.

After years of delays, construction of the Interconnector Greece-Bulgaria (IGB) with an initial annual capacity of 3 billion cubic meters per year is expected to start in October 2016.

“This signing gives the real start of the project, which is strategic not only for Bulgaria and Greece, but also for all southeastern Europe,” Bulgarian Energy Minister Temenuzhka Petkova said after the ceremony, also attended by her Greek counterpart Panos Skourletis.

The pipeline aims to tap gas from Azerbaijan, and will also be able to carry gas from Greece’s liquefied natural gas (LNG) terminal after 2018, when it is expected to become operational.

Thanks for reading Hellenic News of America

It is estimated to cost about 220 million euros and will be partially financed by an EU grant of 45 million euros.

Bulgaria’s state owned energy holding company BEH has a 50 per cent in the joint venture, while Greek state energy firm DEPA and Edison hold 25 per cent each.

Bulgaria hopes to become a regional gas hub and transport both Russian and Caspian gas to central Europe and Prime Minister Boiko Borisov said Bulgaria will aim to boost the IGB’s capacity to 20 bcm in the future.

Consecutive governments have declared connecting Bulgaria’s network to its neighbours to diversify gas supplies a priority after a price spat between Russia and Ukraine left the country in the cold for two weeks in January of 2009.

Earlier this week, US Secretary of State John Kerry praised Greece for embracing strategic energy projects that will cut Europe’s dependence on Russian gas, including the IGB pipeline.

A gas connection with Romania is now expected to be ready by the middle of 2016 and a gas pipeline with Serbia should also be ready in 2018, the energy ministry said.

The copyrights for these articles are owned by the Hellenic News of America. They may not be redistributed without the permission of the owner. The opinions expressed by our authors do not necessarily reflect the opinions of the Hellenic News of America and its representatives.