Serbian Minister of Energy and Mining Petar Skundric and Bulgarian Minister of Economy, Energy and Tourism Traicho Traikov signed an agreement on the construction of a gas interconnection between the two states in Brussels yesterday.

Skundric told a press conference that the construction of a gas interconnection between Serbia and Bulgaria is of great importance for both states.

This agreement is part of the national gasification plan and of Serbia’s intention to become a hub of natural gas through gas interconnections with neighbouring countries, Skundric said.

Skundric added that this agreement integrates the Western Balkans into Europe’s energy system and brings Serbia closer to EU membership.

The Serbian Minister of Energy and Mining thanked the European Commission representatives, who attended the signing of the agreement, for their willingness to finance the construction of this gas interconnection between Serbia and Bulgaria.

The gas pipeline to be built will be 180 kilometres long and it will cost between €100 million and €120 million, Skundric explained. The gas that will be used will mostly come from Russia, as it has been the case so far.

Traikov said that this is the third agreement on building gas interconnections which Bulgaria has signed, the previous such agreements being with Greece and Romania.

If the same agreement is reached with Turkey, a functional gas market will be established and diversification of sources secured.