Bulgaria Lags in Absorbing EU Funds, Risking Losses and Growing Debt
Bulgaria is falling behind in its utilization of European Union funds
Bulgartransgaz and Transgaz, the gas transmission operators of Bulgaria and Romania, have signed a contract with Austria’s Habau PPS Pipeline Systems SRL for the construction of the last section of a gas gas link between the two southeast European countries.
"The completion of the interconnector opens a new page in Bulgaria’s energy sector,” the country’s Energy Minister Temenuzhka Petkova said at the signing ceremony in Sofia on Wednesday, according to a statement from the ministry.
The 2.1-km long pipeline section under the Danube river has to be completed in four months. The maximum design capacity of the 25-km long pipeline will be 1.5 billion cubic meters gas per year from Bulgaria to Romania and 500 million cubic meters in the opposite direction. In February, Habau won a tender to build the section under the Danube at a cost of EUR 4.577 M free of VAT.
"We hope that after four months Bulgaria will have its first interconnector link operational,” Petkova said. “This is a step toward bringing to life the principles of Europe’s Energy Union – security and sustainability of supply, competitiveness and affordable energy for consumers.”
The Ukrainian parliament has approved the purchase of two Russian nuclear reactors that were originally intended for the Belene Nuclear Power Plant (NPP) in Bulgaria
In 2024, Bulgaria’s electricity sector faced significant challenges, with a sharp decline in exports and a rise in domestic consumption
Businesses in Bulgaria remain on high alert, described as "code yellow," due to persistently high electricity prices
Azerbaijan has temporarily suspended natural gas supplies to Bulgaria
KazMunayGas, the state-owned oil company of Kazakhstan, is reportedly taking part in a tender to acquire the Bulgarian-based refinery of Russian oil giant Lukoil
Residents of Lovech region staged a second protest over the extended electricity crisis that disrupted their holidays
Bulgaria's Perperikon: A European Counterpart to Peru's Machu Picchu
Bulgarians Among EU's Least Frequent Vacationers, Struggling with Affordability