The construction of the Bulgaria-Serbia gas grid interconnector will boost the energy security of both countries and of the region as a whole, according to Bulgaria’s Deputy Energy Minister Nikolay Nikolov.

Nikolov met with Miryana Filipovic, Mirjana Filipovi?, State Secretary of Ministry of Mining and Energy in Belgrade.

“The gas grid interconnector will contribute to the diversification of gas-supply routes and will boost grid inter-connectivity,” Nikolov said, as cited by the press office of the Bulgarian Energy Ministry.

According to the preliminary technical parameters, the project envisages a reverse-flow gas pipeline that will connect the national gas transmission networks of Bulgaria and Serbia.

“Taking into account the fast-changing global gas map, the construction of gas grid interconnectors between Bulgaria and its neighboring countries proves to be of crucial importance for reducing the energy dependence of the country and the region,” Nikolov stressed.

He suggested that the implementation of the Bulgaria-Serbia gas grid interconnector was important for achieving a diversification of gas supply sources and routes.

The meeting was attended by senior representatives of state-owned companies Srbijagas and Bulgartransgaz, who agreed to speed up work on the project.

The progress of activities related to updating the parameters stipulated in the 2012 memorandum on the construction of the gas pipeline was also discussed.

The implementation of the gas grid interconnector project has been divided into two stages and the funding for the first stage is provided under the operational program “Developing the Competitiveness of the Bulgarian Economy” 2007-2014, while the second stage is funded under the operational program “Innovation and Competitiveness” 2014-2020.

The Bulgaria-Serbia gas grid interconnector has been labeled a project of common interest by the European Commission.