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EU-Balkans: green light to Greek-Bulgarian natural gas interconnector by the EU Commission

(Brussels)  The European Commission has found State aid for the construction of a natural gas interconnector between Greece and Bulgaria to be in line with EU State rules. In a dedicated release the Commission declared that the project ” will contribute to the security and diversification of EU energy supplies without unduly distorting competition.” “The new gas interconnector between Greece and Bulgaria will increase the security of energy supply and enhance competition, to the benefit of citizens in the region”, said Commissioner Margrethe Vestager, in charge of competition policy. The Commission approves the decision of Athens and Sofia to grant State aid amounting to €240 million, “because they are necessary, in the sense that the project would not be carried out absent the aid.” The interconnector (IGB) will be 182 km long and will extend across Komotini (Greece) – Stara Zagora (Bulgaria), transporting 3 billion cubic meters/year of natural gas from Greece to Bulgaria. The project will be owned by ICGB AD, a 50-50 joint venture between the IGI Poseidon consortium (which includes Edison of Italy and Greek gas incumbent DEPA) and BEH, the Bulgarian gas incumbent.

 

 

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