Southern Gas Corridor

The implementation of the Vertical Gas Corridor has commenced, aimed at ensuring diversification and energy security for natural gas supplies. Bulgartransgaz, the state gas transmission operator, signed two critical public contracts with consortia comprising Bulgarian and American companies.

The European Bank for Reconstruction and Development (EBRD) is providing a 500-million-euro financing to support the regions affected by last year's devastating earthquakes.

The agreement regarding the new financing was signed between the Treasury and Finance Ministry and the development bank.

BAKU - State Secretary at Serbia's Ministry of Mining and Energy Veljko Kovacevic said on Friday in Baku that, by completing a natural gas interconnector with Bulgaria, Serbia had attained the possibility to connect to various gas supply sources, which he noted could improve its energy security and bolster its position as a gas transit country.

The European Investment Bank's (EIB) contribution to the Cyprus' economy was considerable, with 230 million euros disbursed in loans for public sector projects in 2023, with total project financing from the Bank exceeding €2 billion.

The capacity of the Trans-Anatolian Natural Gas Pipeline (TANAP) will be doubled, Energy Minister Fatih Dönmez has announced.

Electricity from Bulgaria in exchange for gas from Azerbaijan - such an agreement was made during the visit of the Minister of Economy and Industry Nikola Stoyanov to Baku. On BNT, the minister said that with such a scheme - barter gas for electricity, we could receive quantities in the next 4-5 months, when we need it most in the winter.

The Greece-Bulgaria gas interconnection (IGB) has started test gas supplies, the project company ICGB AD told Trend news agency.

"We have started test deliveries with real quantities of natural gas, as planned. However, this is not the beginning of commercial exploitation," the ICGB said.

Our country will not be able to get the entire agreed amount of Azerbaijani gas this year at a preferential price.

This was announced by the Minister of Energy Alexander Nikolov before the Parliamentary Energy Committee.

A cooperation and handover agreement for the Fier South gas facility was signed between Trans Adriatic Pipeline (TAP) AG, the Albanian Ministry of Infrastructure and Energy, and Albgaz Sh.a., a statement from TAP said on July 7.

TAP will design, procure and construct the gas exit point with a multimillion Euro investment.

The production of green hydrogen from renewables could offer new opportunities for Turkey's exports to Europe, European Bank for Reconstruction and Development (EBRD) officials told Anadolu Agency.