(MENAFN- Trend News Agency)
BAKU, Azerbaijan, Feb.19
By Leman Zeynalova - Trend:
Bulgaria can diversity its energy supplies and increase its
energy independence by completing the Greece-Bulgaria natural gas
interconnector project as per the updated plan, investing in the
development of the Gas Terminal in Alexandroupolis and upgrading
its gas network leveraging its geostrategic location for gas
transit, Trend reports with reference to the American Chamber of Commerce in
Bulgaria (AmCham Bulgaria).
Opportunities to import liquefied natural gas (LNG) from the
United States to Bulgaria, Central and Eastern Europe, the
diversification of nuclear fuel supplies and the decarbonization of
Bulgaria's electricity system featured high on the agenda of a
recent visit by a Bulgarian government delegation to the US,
Bulgarian media reported citing AmCham.
AmCham Bulgaria reported that during the luncheon the visiting
delegation discussed opportunities for collaboration with
world-class US companies and the role that modern nuclear
technologies and natural gas can play in Bulgaria's energy
transition including through diversification of the nuclear fuel
supply and LNG imports from the United States to Europe. LNG
shipments from the US increased since late 2021 and early 2022,
AmCham Bulgaria noted.
The IGB project enables the transmission of gas and supplies
from new sources, making it key to Bulgaria's energy security and
part of the national plan for diversification of gas sources. The
capacity of the project is 3 billion cubic meters with the option
to reach 5 billion cubic meters. Half of the capacity of the
interconnector is already reserved, as four of the shippers are
completely new to the Bulgarian market. A contract has been signed
for the supply of 1 billion cubic meters from Shah Deniz 2 based on
a long-term contract with Bulgargaz.
The conclusion of the contract for construction of the
interconnector dates back from the end of 2019, as one of the main
commitments of the project company in structuring IGB is the
obligation to control costs within the approved budget, which will
ensure competitive transmission for customers. The delay in
construction activities and the approved update of the construction
schedule for the end of 2021 are due to objective reasons related
to the global coronavirus pandemic and do not lead to direct
losses. The established alternative route through the Greek system
and Siderokastro provides a temporary solution for servicing the
contract with Azerbaijan until IGB is put into commercial
operation.
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Follow the author on Twitter: @Lyaman_Zeyn
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