06.06.2024
Two major contracts were signed in the government headquarters for the construction of the Vertical Gas Corridor: the loopings Koulata-Kresna and Roupcha-Vetrino. Thus, the start was given to the real activities to increase the transportation capacities between Greece and Bulgaria and Bulgaria and Romania after the completion of which the Bulgarian gas pipelines will carry additional quantities of liquefied natural gas (LNG) from reliable sources, including the United States, Azerbaijan, Egypt and other countries. The signing ceremony was attended by Prime Minister Dimitar Glavchev, Minister of Energy Vladimir Malinov, the Chair of the Energy and Water Regulatory Commission (EWRC) Ivan Ivanov, the Deputy Chief of Mission of the US Embassy to Bulgaria Andrea Brouillette-Rodriguez, the ambassadors of: Hungary – Miklós Boros; Ukraine – Olesia Ilashchuk; Moldova – Anatol Cebuc; Greece – Alexios Lyberopoulos; and the Deputy Chief of Mission of the Embassy of Slovakia to Bulgaria Daniel Ország.
“The initiative of the gas transmission operators of Bulgaria, Greece, Romania, Hungary, Slovakia, Ukraine and Moldova will guarantee energy security by the diversification of supplies in the long term,” Prime Minister Dimitar Glavchev said at the ceremony. He emphasized that after the planned cut of the transit of Russian natural gas via Ukraine from the beginning of 2025, the Vertical Gas Corridor that is a Bulgarian initiative would become an infrastructure of leading importance for the entire region.
Prime Minister Dimitar Glavchev noted the cabinet’s active contribution to the successful implementation of this strategic project: the Development Council with the Council of Ministers has already approved sovereign guarantees within the draft budget for next year and this will provide an opportunity for attractive bank financing. An interinstitutional workgroup has been set up with the main function to synergize the operations of the government institutions involved in the project in order to meet the date of completion of the project as scheduled.
“The Vertical Gas Corridor is not only a strategic initiative of key importance for the countries in the region, but also a tool to guarantee their energy security,” stated Energy Minister Vladimir Malinov. As he said, the increase of the gas transportation capacities between Greece and Bulgaria and Bulgaria and Romania starting today allows additional supplies from alternative sources and this is crucial for the security of supply of the countries of the region. “Cooperation between Bulgarian and US companies in the implementation of these projects from the initiative will set an excellent example for the implementation of future energy projects with a quality as required, according to schedule and within the budget allocated,” Mr. Malinov emphasized.
