Filled Under: BALKANS, OIL AND ENERGY
Construction of Greek-Bulgarian Pipeline To Begin in 2015
The construction of the Greek-Bulgarian pipeline (IGB) is expected to begin in 2015. Speaking at the Ecconomist's summit conference taking place under the auspices of the Greek presidency of the EU, Costas Karagiannakos, the head of gas procurement and International projects section of the Public Gas Corporation (DEPA) in Thessaloniki, said that the IGB is on the list of projects of mutual European interest.
"The project is at a very mature stage, all the licensing processing and technical studies have finished. The institutional framework is being completed; by the end of 2014 we will be able to take the final investment decision and start construction in 2015."
Regarding the natural gas liquefaction station being planned in the wider region of Kavala that is expected to export liquefied natural gas to the greater region of southeastern Europe, Karagiannakos noted that the technical feasibility study has also been completed.
"It is a project that, combined with the Greek-Bulgarian pipeline, presents special interest for the region, because except for Greece, the rest of the countries in Southeastern Europe do not have access to liquefied natural gas (LNG) and could benefit countries excluded from the Nabucco pipeline.
He also pointed out that DEPA has already implemented a pre-feasibility study which indicates that the pipeline that would transfer gas from the Levantine Basin to Europe is a project that makes sense economically and is technically feasible.
"The next step is to go ahead and do a viability study, a decision approved recently by the DEPA board, and which is moving very fast towards tendering," he said.
"This is being pursued in tandem with Cyprus and we believe that soon more companies with southeastern Mediterranean licences will be able to participate in the group supporting the study," he added.
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