Bulgaria-Greece gas interconnector construction faces delay – report

Written by on August 4, 2016 in Bulgaria - Comments Off on Bulgaria-Greece gas interconnector construction faces delay – report

The start of construction on the gas interconnector between Bulgaria and Greece could be delayed by at least six months, a Bulgarian media report said on August 4.

Even though the project has been labelled repeatedly as a top priority by Bulgarian Prime Minister Boiko Borissov, most recently at the joint sitting of the Bulgarian and Greek cabinets earlier this week, several factors contributed to the delay in a project seen as key to reduce Sofia’s dependence on Russian gas supplies, news website Mediapool.bg said.

Shareholders in the project company have decided to await the completion of the market tests that will gauge interest in shipping gas through the new pipeline, according to Mediapool’s report, which quoted Assen Gagaouzov, the former regional development minister, who is a member of the project company’s board of directors.

Bulgarian Energy Holding (BEH), the umbrella corporation for state-owned energy sector assets, has 50 per cent in the project company, the same as IGI Poseidon, the joint venture between Greek operator DEPA and Italy’s Edison.

For the full story, please click here.



About the Author