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Italy's Economic Diplomacy, 6 December: latest news from the world



Italy's Economic Diplomacy, 6 December: latest news from the world


The Bulgarian National Assembly has approved the new national energy plan for 2019-2020. The document reflects the Cabinet’s will to further accelerate the development of natural gas transportation infrastructure projects and especially the connection to the Turkish Stream II line, through the creation of the new south-eastern corridor for Russian gas.

Moreover, the text mentions the construction of the Balkan Gas Hub in the Varna region, designed as a marketing platform, in addition to the Interconnector Greece-Bulgaria (IGB) and to the planned connection to the GNL Terminal in Alexandroupolis.

In expressing his satisfaction for the approval of the Plan, Prime Minister Bojko Borissov underscored the Sofia Government’s staunch determination to develop the Turkish Stream II project, the “extraordinary strategic importance” of which enhanced Bulgaria’s role in Europe and the energy security of the EU.

The Minister of Energy, Temenujka Petkova, spoke along the same lines and, in a press conference, announced that she had received a formal declaration of interest from Gazprom to develop the gas pipeline and that the company Bulgartransgaz would soon announce the results of the binding phase of market tests.

In line with these developments, the strategic document provides that Bulgartransgaz present a financial and operating proposal for possible industrial partnerships in order to install the Russian gas transmission network from the Turkish to the Serbian border by the end of 2019. The new gas pipeline, which mostly follows in the track of the old South Stream trajectory, is estimated to cost 1.5 billion euros (accounting for almost 3% of national GDP) and to be more than 400 km long in the Bulgarian section alone.

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