Skip to content
Subscriber Only

Bulgaria, Greece Sign Natural Gas Pipeline Investment Agreement

  • Pipeline links Greek and Bulgarian natural gas grids
  • 220 million-euro project to diversify gas supplies in Balkans

Bulgaria and Greece signed an agreement to start building a pipeline linking the two countries’ natural-gas grids, which will help Bulgaria diversify its gas supply and connect Greece to the rest of the European network.

State-owned Bulgarian Energy Holding and IGI Poseidon, a joint venture between Greek state-owned gas supplier DEPA SA and Italy’s Edison SpA, signed a final investment agreement Thursday, Bulgarian Energy Minister Temenuzhka Petkova said in Sofia. The pipeline, scheduled to become operational in 2018, is estimated to cost 220 million euros ($241 million), of which the European Union will provide 45 million euros.