Interconnector

Bulgaria's state energy holding BEH and Greek-Italian joint venture ISI Poseidon signed on Dec. 10 a key investment deal to build a new pipeline linking Bulgaria and Greece's gas networks, officials said.

Construction of the Interconnector Greece-Bulgaria (IGB) is to begin next October, and the link is to become operational by mid-2018, officials from the two countries confirmed on Thursday.

The investment agreement on the construction of the planned natural gas interconnector between Bulgaria and Greece (IGB) is expected to be signed on December 10.

This was announced by Bulgarian Energy Minister Temenuzhka Petkova in an interview for Focus news agency upon her return from the energy and economic summit of the Atlantic Council held in Istanbul.

The European Commission said on Wednesday that it has adopted a list of 195 key energy infrastructure projects that form key building blocks of the EU's Energy Union.

Bulgaria's government is to issue guarantees worth BGN 215 M (EUR 109 M) for the Interconnector Greece-Bulgarai (IGB) project in 2016, the cabinet's press office has said.

The decision, announced at a Wednesday cabinet meeting, has turned IGB into the single state-guaranteed investment project for which the government will secure funding by taking out more loans.

US diplomats are working in Greece to make sure the interconnector project between Athens and Sofia will be carried out, the Bulgarian National Radio has said.

"The interconnector with Bulgaria is a priority for Greece's energy policy as well," BNR's correspondent in Athens quotes Greek Energy Minister Skourletis as telling lawmakers in Parliament.

A contractor is expected to be selected in early December for the construction of a gas pipeline interconnection with Romania under the Danube river bed, Bulgaria's Energy Minister Temenuzhka Petkova said on Friday.

Control Engineering OOD is to consult and conduct construction supervision activities for the Bulgaria-Serbia gas grid interconnector project, according to reports of Bulgaria's Energy Ministry.

The Bulgarian government has unveiled a package of energy cooperation projects on which it would seek to work with Azerbaijan, Bulgaria's Ambassador to the country has said.

According to reports by the Trend News Agency, Baku is being offered to take part in the construction of filling stations, gas depots, and oil refineries.

Bulgarian Foreign Minister Daniel Mitov pointed to the planned gas interconnector between Bulgaria and Greece as having the potential to break Russian monopoly.

Mitov highlighed that the swift implementation of the agreement for construction of the gas interconnector, which was likely to be signed in July, was important for the energy security of Southeastern Europe.