Bulgaria and Greece with joint energy projects

Bulgaria’s Head of State Rumen Radev was welcomed by Greek Prime Minister Kyriakos Mitsotakis at his residence in Athens on February 16. The two held a one-to-one meeting where energy and other strategic issues for the two countries were discussed.

Bulgaria and Greece discuss resumption of oil pipeline project between Bourgas and Alexandroupolis

"Bulgaria has doubled the reserved capacity for liquefied natural gas in Alexandroupolis, we have increased electricity exports to Greece, we have also accelerated the processes of connecting our transport and electricity grids. We have increased trade by more than 1 billion euros," Rumen Radev said.

The energy ministers of Bulgaria and Greece signed two memorandums on cooperation in the energy sector. According to the first one, the two countries will consider the resumption of the project to build an oil pipeline between Alexandroupolis and Bourgas.

“Today, we are making a start, the Alexandroupolis-Bourgas oil pipeline is of strategic importance for our country because it provides an opportunity for real diversification and alternative supplies of non-Russian oil to our refinery in Bourgas - the largest in the Balkans," President Radev said.

The first agreement for the construction of the Bourgas-Alexandroupolis oil pipeline was signed in Athens 16 years ago. At that time, Russia, Greece and Bulgaria were participants in the project and the idea was to transport Russian oil to Greek ports. Bulgaria left the project in 2012 because it was not environmentally and economically viable.

The new project will start from Alexandroupolis to Bourgas. It will have a capacity of 10 million tonnes of oil per year and will supply the Bulgarian refinery with oil other than Russian oil.

"This project is being revived in the light of new circumstances, no longer as a pipeline between Bourgas and Alexandroupolis, but from Alexandroupolis to Burgas. Thus, it enables us to transport fuel in a faster and cheaper way. Not only because it bypasses the tankers through the Bosphorus, but also because it connects to facilities that are already ready or in the process of completion," said Kyriakos Mitsotakis.

The second agreement the energy ministers signed is related to securing gas supplies.

"Companies from both countries will be able to store natural gas at the storage facility in Chiren, northwestern Bulgaria, and Bulgarian companies will be able to benefit from the liquefied natural gas terminal at Revitusa. In this way, both countries will have reserves in case of need," Mitsotakis said.

The Bulgarian head of state and the Greek Prime Minister also agreed on cooperation between Athens and Sofia in the field of information technologies.

Images by BGNES, BNT