Greece, Bulgaria’s $112 million gas pipeline deal

Greece, Bulgaria’s $112 million gas pipeline deal

Greece and Bulgaria will reportedly seal a deal to build a gas pipeline connecting the two countries, part of the Southern Corridor infrastructure scheme to bring Caspian gas to Europe, two Greek energy ministry officials stated according to news reports.

The Interconnector Greece Bulgaria (IGB) project is estimated to cost about $112 million and the European Union has approved about 45 million euros in funding to build the pipeline.

The 180 km pipeline will have a capacity of 3 billion cubic metres (bcm). It will be built by a Greek-Bulgarian joint venture set up in 2011 which includes Italian energy group Edison SpA.

Oil and Gas Press