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Greece and Bulgaria sign agreements on IGB gas pipeline

05. March 2010. | 09:48

Source: BNR

The construction of the pipeline will be completed by 2012 and will cost some 150 million euro, 45 million of which have been provided by the European Union.

During the conference in Thessaloniki on Energy in South East Europe, Bulgaria and Greece signed two agreements on establishing companies for the planning, construction and commercial operation of the gas pipeline between Bulgarian and Greece called Interconnector Greece – Bulgaria (IGB).

Bulgaria was represented by the Minister of Economy, Energy and Tourism Traicho Traikov. This is the first step towards the construction of a gas pipeline with a length of 170 km that is to connect the Greek town of Komotini (in Northern Greece) with the town of Stara Zagora (in Central Bulgaria).

The construction of the pipeline will be completed by 2012 and will cost some 150 million euro, 45 million of which have been provided by the European Union.

The first signed agreement envisages the setting up of a joint venture Asset Company based in Sofia and in charge of the pipeline’s construction and operation.

The second agreement is for a company based in Athens that will be in charge of the project’s commercial management.

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