Bulgartransgaz considers possibility of equity participation in new regasification terminal in Greece

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“The available regasification capacity in the region of South East Europe of more than 35 billion cubic metres (bcm) per year together with the planned new terminals and the increase in flows from the Caspian region will lead to further growth in the flows from south to north.” This was stated by the Executive Director of Bulgaria’s gas transmission system operator Bulgartransgaz, Vladimir Malinov, during his participation in the Southeast Europe & East Med Forum.

According to him, Bulgartransgaz is considering all possibilities of equity participation in a new regasification terminal in Greece. Such an investment will be fully in synergy with the projects under the Vertical Corridor initiative and will be of key importance for the entire region.

Referring to the Vertical Gas Corridor, Mr Malionov emphasised that the initiative is of strategic importance in providing a technical possibility for the bi-directional transport of additional volumes of natural gas from reliable sources such as the USA, Egypt and others.

“In addition to its well-developed infrastructure, Bulgartransgaz proposed projects to increase the transmission capacity between Greece and Bulgaria and Bulgaria and Romania,” he added. “The implementation of the two projects will increase the energy security, improve the conditions for the diversification of the supply, boost the competition and contribute to the full gas markets integration of the countries in the region.”

In the margins of the conference, Mr Malinov also held a meeting with the US Ambassador to the Hellenic Republic, HE George Tsunis, to discuss the upcoming commissioning of the liquefied gas terminal near Alexandroupolis, where the Bulgarian gas transmission operator is a co-shareholder with 20 per cent.

“The development of the LNG market is among the main factors to ensure the energy security in the region,” concluded Mr Malinov. “That is why Bulgartransgaz’s potential participation in a second regasification terminal in Greece will improve the energy security in the region.”

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