Greece's emergence as an energy hub was made possible by years-long investments in projects like the Interconnector Greece-Bulgaria, the Revithoussa LNG terminal, and the Trans-Adriatic Pipeline, Geoffrey Pyatt, Assistant Secretary at the Bureau of Energy Resources of the US Department of State said, Report informs, citing the foreign media.
"Its regional importance will continue to grow when the Alexandroupoli FSRU and the Interconnector Greece-North Macedonia come online. Improving and expanding this type of infrastructure while minimizing its carbon footprint present yet another promising area for investors to consider," he said.
"Improving and expanding this type of infrastructure while minimizing its carbon footprint present yet another promising area for investors to consider," the US official added.
The IGB is designed to transport blue fuel from Shah Deniz 2 to Bulgaria. Through this pipeline, which will join TAP, Bulgaria will import 1 billion cubic meters of natural gas a year from Azerbaijan. Thus, the state company Bulgargaz EAD has signed a contract with the Shah Deniz consortium to purchase this amount of gas from the Shah Deniz-2 field. Azerbaijan will be able to meet 25-30% of Bulgaria's gas needs. Construction work on the IGB is expected to be completed in the second half of next year.
The 150 kilometers of the pipeline (182 kilometers in length) will pass through Bulgaria. The pipeline's annual capacity is estimated at 3-5 billion cubic meters.
In July, the European Commission signed a memorandum of understanding with Azerbaijan to increase the import of natural gas to at least 20 billion cubic meters per year by 2027. The final decision on doubling the capacity of the Trans-Adriatic Pipeline gas pipeline will be made early next year. Additional natural gas will come from several fields in Azerbaijan.
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