(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
“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
“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.
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.