BAKU, Azerbaijan, February 28. European Union’s
(EU) monetary assist is key for enlargement of the
Interconnector Greece-Bulgaria (IGB), Teodora Georgieva, Government
Officer of ICGB, the pipeline operator, stated throughout an power
summit held in Bulgaria, Development stories.
“Regional cooperation is essential, and we should stay versatile for
market choices, particularly inside the Vertical Fuel Hall
initiative. The enlargement of the IGB pipeline stays a high
precedence for ICGB, as it’s essential for strengthening long-term
power safety within the area. Nevertheless, market curiosity has up to now
been restricted, making a grant-based financing construction important to
make sure the pipeline stays aggressive,” she stated.
Georgieva emphasised that securing the precise funding mechanisms
is essential to sustaining IGB’s viability, notably as a possible
route for safe and diversified gasoline deliveries to Moldova and
Ukraine.
“Assist from the EU is key to creating this enlargement a
actuality – subsidy or grant funding will make sure the pipeline
continues to supply a dependable and cost-effective provide route. Fuel
will stay a significant factor in Europe’s power combine, and this can not
be neglected by the European Fee,” she added.
“All individuals within the dialogue reaffirmed the excessive
relevance and reliability of the Southern Fuel Hall and the
essential function of the Vertical Fuel Hall, calling for European
solidarity to make it occur,” reads a message from the ICGB.
The Greece-Bulgaria interconnector connects Bulgaria to the
Southern Fuel Hall and is a part of the Vertical Fuel Hall. The
pipeline strengthens power connectivity and safety within the
area, offering entry to pure gasoline from new, diversified
sources. At present working at 3 bcm/y, the pipeline has the
potential to increase its technical capability as much as 5 bcm/y. The
interconnector presently secures about 70 p.c of Bulgaria’s
inside pure gasoline consumption and is a dependable route for
diversified deliveries to key markets akin to Moldova and
Ukraine.
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