IGB To Ensure Affordable Gas Prices For Bulgaria, Its Partne...| MENAFN.COM

Monday, 05 December 2022 11:45 GMT

IGB To Ensure Affordable Gas Prices For Bulgaria, Its Partners - Galab Donev


(MENAFN- Trend News Agency)

BAKU, Azerbaijan, Oct.1. The Interconnector Greece-Bulgaria (IGB) will ensure affordable gas prices for Bulgaria and its partners, Prime Minister of Bulgaria Galab Donev said, addressing the ceremony of IGB's opening in Sofia, Trend reports.

“As of today, IGB is operational. The new gas pipeline has sufficient capacity to satisfy all domestic consumption. Furthermore, IGB will ensure the diversification of sources, as well as of routes of supply of natural gas for Bulgaria, which is key to ensuring the energy security of the country. The fact of existence of this interconnector renders our country less vulnerable and thus improves our negotiating position. Therefore, particularly, in the current circumstances, the interconnector is essential for Bulgaria for exceeding the specific economic benefit of its operation as a commercial enterprise,” he said.

Donev pointed out that for Greece and Bulgaria IGB is not only a commercial cooperation agreement, but also proof of responsibility and solidarity.

“The strategic significance of IGB far exceeds the boundaries of Bulgaria and our valuable bilateral cooperation with Greece. The interconnector will ensure diversification of sources and routes of supply of natural gas not only for Bulgaria but also will allow the transfer of natural gas from Greece to Romania, Moldova, Ukraine and to Central Europe. Yet the potential of IGB will become even more evident after the entry into operation of the LNG terminal near Alexandropolis expected by the end of next year, which will provide further access to multiple sources of supply on the international LNG market,” noted Bulgaria's PM.

He went on to add that IGB will be in synergy with the LNG terminal near Alexandropolis.

“It will serve as a link with the Southern Gas Corridor and will provide access to alternative gas supplies from the Caspian region. Bulgaria welcomes the EU-Azerbaijan memorandum of understanding on strategic energy partnership and the possibility of increasing natural gas supplies from Azerbaijan. This will contribute to diversification objectives in the RePowerEurope plan and help Europe to end its overdependence of one supplier. IGB has the potential to contribute to ensuring the much-needed security of supply of natural gas and affordable prices both for the citizens of Bulgaria and our partners and friends in Europe. We believe that IGB will play its proper part in the realization of the main objectives of the European Union's energy policy,” he said.

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