Bulgaria signed agreement to acquire 20% of the liquefied natural gas terminal in Alexandroupolis

Bulgaria on August 24 signed a final agreement to acquire 20% of the liquefied natural gas terminal in Alexandroupolis. The country will participate in the project through the state-owned company Bulgartransgaz. The Prime Ministers of Bulgaria and Greece, Boyko Borissov and Kyriakos Mitsotakis, attended the signing in Athens.

Bulgaria has officially become a shareholder in the Gaztrade project company, which is building the gas terminal in Alexandroupolis. The total investment in the project is 370m euros, with 20% of it amounting to about 74m euros. It is expected to start operating in 2022.

The terminal is fully connected to the Greek gas system and will allow Bulgaria to receive gas from various sources. Among the countries that supply liquefied natural gas are the United States, Algeria and Qatar. Until now, our country could only use the terminal in Revitusa.

"I am sure that the investment we are signing today will mark the beginning of an even closer cooperation with neighbouring Bulgaria. The benefits are clearly geopolitical, the new corridor allows us to diversify, not only sources but also routes. not only for Greece, but also for Bulgaria, which will add another source of energy. The geopolitical importance of the region as an energy hub will also increase, " said Greek Prime Minister Kyriakos Mitsotakis.

Apart from Bulgaria, shareholders in the project company are also the Greek state company DEPA and the international company Gazlog Cyprus Investment. Bulgaria will be able to receive gas after processing it at the terminal through the existing gas connection between the two countries and the newly built one.

"Moreover, with half a billion investment at high speed, the gas pipeline from Alexandroupolis to Dimitrograd is being built. In theory, I have heard a lot about diversification, today it is a fact," PM Borissov said.

The signing ceremony was also attended by the US Ambassador to Bulgaria Herro Mustafa. She was greeted by her Greek counterpart on Twitter, with the US ambassador to Athens describing Bulgaria's participation in the terminal as a success of US regional energy policy.

In Athens, Prime Minister Boyko Borissov held a working meeting with his Greek counterpart Mitsotakis, at which they also discussed easing the cross-border traffic between Bulgaria and Greece in pandemic conditions.