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The
182-km pipeline will provide a relief to Bulgaria, which has
been struggling to secure gas supplies at affordable prices
since the end of April, when Russia's Gazprom (GAZP.MM) cut off
deliveries over Sofia's refusal to pay in roubles.
Russia has decreased its gas deliveries to Europe after the West
imposed sanctions on Moscow over its invasion of Ukraine,
leaving European Union countries scrambling to secure
alternative supplies amid surging prices.
"This pipeline is a game changer. It's a game changer for
Bulgaria and for Europe's energy security. And it means freedom.
It means freedom from dependency on Russian gas," European
Commission President Ursula von der Leyen said during an
inauguration ceremony in Sofia attended by the leaders of
Bulgaria, Greece, Azerbaijan, Romania, Serbia and North
Macedonia.
"Both here in Bulgaria and across Europe people are feeling the
consequences of Russia's war. But thanks to projects like this,
Europe will have enough gas for the winter," she said.
The Interconnector Greece-Bulgaria (IGB) pipeline will transport
1 billion cubic meters (bcm) of Azeri gas to Bulgaria.
With an initial capacity of 3 bcm per year and plans to later
raise this to 5 bcm, the pipeline could provide non-Russian gas
to neighbouring Serbia, North Macedonia, Romania and further to
Moldova and Ukraine.
It will carry gas from the northern Greek city of Komotini to
Stara Zagora in Bulgaria. IGB is linked to another pipeline,
part of Southern Gas Corridor that carries Azeri gas to Europe.
On Friday, gas operators in Bulgaria, Romania, Hungary and
Slovakia proposed to transport increased Azeri shipments through
their networks to central Europe.
The 240 million euro ($235.18 million) pipeline is controlled by
a joint venture between Bulgarian state energy company BEH,
Greek gas utility DEPA and Italy's Edison.
($1 = 1.0205 euros)
(Reporting by Tsvetelia Tsolova; Additional reporting by Kate
Abbnet in Brussels and George Georgiopoulos in Athens; Editing
by Mike Harrison)
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