Launch of IGB Commercial Operation

site.btaUPDATED Bulgarian PM Donev: Interconnector Makes Bulgaria Less Vulnerable

Bulgarian PM Donev: Interconnector Makes Bulgaria Less Vulnerable
Bulgarian PM Donev: Interconnector Makes Bulgaria Less Vulnerable
PM Galab Donev speaks at the launch of the commercial operation of IGB (BTA Photo)

The Greece-Bulgaria interconnector (IGB) makes Bulgaria less vulnerable, Bulgarian caretaker Prime Minister Galab Donev said in the opening address at the ceremony for launch of commercial operation of IGB. The ceremony is taking place at the NDK Convention Centre in Sofia Saturday.

Donev said that the new gas pipeline has sufficient capacity to meet all needs. "Moreover, it will ensure the diversification of natural gas sources and supplies to Bulgaria, which is of key importance for the country's energy security", Donev said.   

IGB will contribute to guaranteeing the security of natural gas supply at affordable prices for both Bulgarian citizens and our European partners, said Donev adding that it will also play its part in achieving the main objectives of the EU energy policy. 

He highlighted the efforts of his government to make up for the delays in the implementation of the project and ensure its timely completion. He pointed out the importance of the political will of Bulgaria and Greece to finalize the project. 

He pointed out that the gas link is not only an agreement for commercial cooperation, but also a proof of responsibility and solidarity that extends beyond the immediate neighbourhood.

IGB has sufficient capacity to meet the entire domestic consumption, Donev said. It will ensure the diversification of the sources as well as the routes for gas supply to Bulgaria. 

“The interconnector makes our country less vulnerable and thus improves our negotiating position. That is why, especially under the current circumstances, the interconnector is essential for Bulgaria, going beyond the concrete economic benefits of its functioning as a commercial enterprise,” he added.

The Prime Minister went on to underscore the challenges of the soaring energy prices, and the further aggravation of the situation by the ongoing military conflict between Russia and Ukraine. The deliberate disruption of gas pipelines in the Baltic Sea a few days ago adds a further warning that the security of Europe's natural gas supply could suddenly be compromised, he said.

Donev pointed to the great potential of IGB to also allow the transmission of natural gas from Greece to Romania, Moldova, Ukraine and Central Europe. The interconnector will also be fully in sync with the LNG terminal near Alexandroupolis. It will serve as a link to the Southern Gas Corridor and provide alternative gas supplies from the Caspian region. 

In this context, the Prime Minister welcomed the EU-Azerbaijan Memorandum of Understanding on Strategic Energy Partnership and the possibility to increase gas supplies from Azerbaijan. This would contribute to the diversification objectives of the REPowerEU plan and help Europe to end its overdependence on a single supplier, he said. He also highlighted the excellent interaction of IGB with other major energy projects such as the Trans Adriatic Pipeline and the Trans Anatolian Natural Gas Pipeline. LNG terminals in Turkey also contribute to the security of natural gas supply for the region. 

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By 11:47 on 02.02.2023 Today`s news

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