The commissioning of the Greece-Bulgaria Gas Interconnector is a special event not only for the parties involved in the project but also for the whole of Europe, Greek Prime Minister Kyriakos Mitsotakis said at the opening ceremony of the Greece-Bulgaria Gas Interconnector (IGB) in Sofia, Bulgaria, Report informs.
“As President Aliyev has said, Azerbaijani gas will be transported to Bulgaria through this pipeline. Of course, this will contribute to the development of the natural gas network together with other infrastructure projects being implemented in the region,” Kyriakos Mitsotakis said.
The length of the Greece-Bulgaria Gas Interconnector (IGB), connecting the gas transmission networks of Bulgaria and Greece, is 182 kilometers.
The project is implemented by the Bulgarian-Greek investment company ICGB AD, registered in Bulgaria in 2011, together with the shareholders of Energy Holding of Bulgaria and IGI Poseidon of Greece, each of which has a 50 percent stake.
The total cost of the interconnector is more than 240 million euros. In 2010, the European Commission allocated a grant of 45 million euros for feasibility studies and 35 million euros within the framework of the program implemented by Bulgaria. The European Investment Bank provided a loan of 110 million euros.
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