Azerbaijan Waiting for Bulgaria To Construct Gas Link With Greece

Business » ENERGY | February 22, 2017, Wednesday // 16:11
Bulgaria: Azerbaijan Waiting for Bulgaria To Construct Gas Link With Greece BGNES

The construction of the gas link between Bulgaria and Greece is expected to start in the beginning of 2018, stated interim Energy Minister Nikolay Pavlov in Azerbaijan.

Pavlov pointed out that intensive work is being conducted at the moment on the preparation of the documents for the announcement of the tender for the construction of the intersystem connector.

The most important thing is that the project has been secured financially, added Pavlov.

The project received gratuitous financing to the amount of EUR 45 M under the European Energy Programme for Recovery.

Besides, Bulgaria has set aside a guarantee to the amount of EUR 110 M which secures a credit under favourable conditions from the European Investment Bank and the European Bank for Reconstruction and Development.

We are working as well on securing additional grant funds from structural and investment funds of the EU, added Pavlov.

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Tags: Nikolay Pavlov, EBRD, EIB, intersystem connector, greece, azerbaijan, energy, gas
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