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Joint Greek-Bulgarian firm established to build natgas pipeline

Δημοσίευση 23 Δεκεμβρίου 2010, 12:07 / Ανανεώθηκε 27 Ιουνίου 2013, 14:55
Joint Greek-Bulgarian firm established  to build natgas pipeline
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Representatives from natgas utility DE.PA, Edison and Bulgarian Energy Holdings on Tuesday signed a statute establishing a new company projected to build a north-south feeder pipeline between Greece and Bulgaria (IGB).

Representatives from natgas utility DE.PA, Edison and Bulgarian Energy Holdings on Tuesday signed a statute establishing a new company projected to build a north-south feeder pipeline between Greece and Bulgaria (IGB).

The pipeline will extend 170 km, of which 25 km will be in Greek territory, linking Komotini with Stara Zagora in Bulgraria. The project has a budget of 130 million euros, of which 45 million euros will come from Community funds.

The Greek-Bulgarian natural gas pipeline is part of the Turkey-Greece-Italy (TGI) pipeline, set to carry up to 11.5 billion cubic metres of natural gas annually from the Caspian region to the Balkans and west European markets.

Jordan Georgiev was appointed as the chairman of the new company, entitled Natural Gas Interconnector Greece Bulgaria, while Antonis Natsikas, DE.PA deputy director, was appointed as one of two chief executives.

An announcement by the environment, energy and climate change ministry said the Greek-Bulgaria pipeline will aid efforts to boost the country’s position as an energy hub and to secure natgas supplies to Greece.