The signing of a final investment decision on the new Bulgaria-Greece gas grid interconnector is delayed for technical reasons, according to Energy Minister Temenuzhka Petkova.

Petkova, who took part in a conference titled “Energy Strategy for Europe – Diversification and Energy Security”, told journalists that the document was to be signed on June 12, not May 29, as initially announced.

She said that she did not expect further obstructions to the gas grid interconnector as it was a project of mutual interest for Bulgaria and Greece and also for the entire region.

Petkova, as cited by investor.bg, informed that the construction of the Bulgaria-Greece gas grid interconnector was scheduled to begin by March 2016 and the project was to be completed by mid-2018.

She emphasized that Bulgaria was strongly dependent on a single source of gas, with Russia supplying 2.5 billion cubic meters of gas out of the country’s total needs of 2.8 bcm of gas a year.

Bulgaria’s Energy Minister declared that the government was working on developing gas links with neighbor countries in a bid to alleviate the energy dependence.

She admitted, however, that the projects for the construction of gas grid interconnectors were facing delays.

Petkova informed that Bulgaria’s national grid included 1.7 thousand kilometers of gas pipelines and three compressor stations and had an annual capacity of 7.4 bcm of gas.

She made clear that the transit network included 945 kilometers of pipelines and six compressor stations and had a capacity of 15-17 bcm of gas a year.

Petkova stressed that the existing well-developed network was in need of modernization and rehabilitation, adding that state-owned Bulgartransgaz had started upgrading 4 compressor stations to make them reverse-flow units with its own funding.

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