Greece ratified on Wednesday the environmental impact assessment (EIA) for the
Gas Interconnector Greece-Bulgaria (IGB Pipeline), which will link directly the
two countries' national natural gas systems, Greek media reported.
The
pipeline will be of decisive significance for the energy security of Greece and
Bulgaria, the Athens News Agency - Macedonian Press Agency quoted environment
and energy minister Yiannis Maniatis as saying upon signing the document. It
will also help set up the Southern Gas Corridor and will serve as a gate to the
supply of Caspian natural gas to Southeast European markets, he
added.
The IGB Pipeline will carry 3.0 billion cubic metres (bcm) of
natural gas anually in its initial stage and will have a maximum capacity of 5.0
bcm per year. It will be eventually connected to the Trans Adriatic Pipeline
(TAP), carrying natural gas from the Caspian Sea to Europe through
Greece.
The IGB Pipeline is 182 km long, will start at the northeastern
Greek city of Komotini and end at Stara Zagora in Bulgaria. It is estimated to
cost 220 million euro ($330 million).
The project has received 45 million
euro in EU financial support throught the European Energy Programme for Recovery
(EEPR) and has also been included by the European Commission in a proposal to
the European Parliament for funding through the Projects of Common Interest
programme, a final decision on which is expected by
mid-2014.
Construction is expected to begin in autumn 2014, with the
pipeline becoming operational by early 2016.