site.btaBulgartransgaz: Vertical Gas Corridor Infrastructure to Be Built on Bulgarian Territory in 2026

The Vertical Gas Corridor is the only north-south pipeline capable of delivering US liquefied natural gas to households and businesses in Southeast Europe with 5 to 8 billion cubic metres of gas being able to be supplied, according to Vladimir Malinov, CEO of Bulgartransgaz EAD, Bulgaria's gas system operator. He made this statement during the sixth meeting of the Partnership for Transatlantic Energy Cooperation (P-TEC) on Thursday. The high-level forum is held in Athens and is organized by the US Department of Energy, the Greek Ministry of Environment and Energy, and the Atlantic Council's Global Energy Centre. 

“Five to six years ago, the entire region was completely dependent on Russian gas. However, with our visionary approach, we first invested in the Alexandroupolis terminal to ensure diversification and freedom of choice. We then took the necessary steps to turn the Vertical Corridor from an initiative on paper into a project that is already under construction in Bulgaria," Malinov added. He informed the discussion participants that the Bulgarian infrastructure will be completed by 2026, enabling increased capacities from Greece to Bulgaria and from Bulgaria to Romania to be offered at the next annual auction.

Gas operators in the region have the full support of both governments and the European Commission in implementing the Corridor. According to him, the real driving force behind the project should be US liquefied gas suppliers, who will provide the necessary quantities. He stressed that it is important to provide a favourable trading environment in which gas suppliers and buyers can meet, negotiate and collaborate. Malinov also emphasized the possibility of uniting regional markets and submitting a joint application for a long-term contract with US liquefied natural gas suppliers to achieve better prices. 

During his visit to Athens, Malinov met with US Ambassador to Greece Kimberly Guilfoyle. The two emphasized the key role of countries in the region and the work of gas transmission operators to ensure secure and competitive supplies. “Bulgartransgaz will continue its consistent efforts to provide the necessary infrastructure to bring increased quantities of liquefied natural gas from the US to Europe. We will do everything we can to support the implementation of US policy to increase the share of American LNG in Europe,” Malinov told Ambassador Gilfoyle.