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The signing of the investment agreement on the Interconnector Greece-Bulgaria (IGB) at the building of Council of Ministers in Sofia on December 10. Photo: BGNES
Construction of the Interconnector Greece-Bulgaria (IGB) is to begin next October, and the link is to become operational by mid-2018, officials from the two countries confirmed on Thursday.
This comes as shareholders in the joint venture company ICGB signed an investment agreement to build the interconnector in the Council of Ministers' building in Sofia, the Bulgarian News Agency reports.
IGB is a key project for both Bulgaria and Southeast Europe as a whole, Bulgarian Energy Minister Temenuzhka Petkova is quoted as saying.
Petkova stressed the importance of links with Romania, Serbia and Turkey for the implementation of plans to build a gas distribution center in Bulgaria - one that the government put forward late last year after Russia announced the end of the South Stream pipeline project.
Her Greek counterpart, Panos Skourletis, also attended the signing ceremony.
In 2024, Bulgaria ranked second in the European Union in terms of road fatalities, according to a European Commission report assessing progress toward the goal of halving road deaths and injuries by 2030
The market for brand new passenger cars in Bulgaria saw notable growth in 2025, according to data from the Association of Automobile Manufacturers and their authorized representatives
At the start of the year, Bulgaria’s fruit market has seen notable price swings, particularly for citrus fruits. Data from the State Commission for Commodity Exchanges and Markets (DCBMT) show that in January, tangerine prices surged by over 14 percent
In January, Bulgaria recorded a monthly inflation rate of 0.6%, marking the first month after the country’s adoption of the euro
A new survey by the sociological agency Market Links shows that if parliamentary elections were held now, five political formations would enter the National Assembly, with the future coalition around Rumen Radev clearly in the lead
Atmospheric pressure is set to increase, though it will stay below the typical levels for this time of year. Overnight, precipitation will persist in parts of southwestern Bulgaria and in eastern regions, while higher elevations may see light snowfall.
Outgoing Bulgarian Energy Minister Zhecho Stankov described the extension of the general license for Lukoil subsidiaries in Bulgaria until August 13 as more than a bureaucratic formality, calling it a key measure of economic stability for the country.
The United Kingdom has decided to extend the validity of the general license covering Lukoil’s subsidiaries operating in Bulgaria, the Ministry of Energy announced.
The initial drilling effort in the Han Asparuh block (offshore oil and gas exploration area) of the Bulgarian Black Sea, named Vineh-1, did not uncover significant natural gas reserves, according to Offshore-energy
Starting today, the Ministry of Energy and the Energy Regulatory Commission (EKVR) are conducting extraordinary inspections of electricity distribution companies and end suppliers,
In Bulgaria, fuel prices remain largely unchanged, with the international oil market continuing to respond to tensions between the United States and Iran.
Bulgaria is among the EU countries that experienced a notable drop in the use of renewable energy for heating and cooling in 2024, with the share declining by 1.9 percentage points compared to the previous year.
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