Bulgaria’s PM attends ceremony for the start of construction of LNG terminal near the Greek city of Alexandroupolis

bulgariarsquos attends ceremony start construction lng terminal near greek city alexandroupolis

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18:11, 03.05.2022

The construction of the liquefied natural gas terminal, which will be used by Greece, Bulgaria, North Macedonia and Serbia, has officially started.

Europe will be able to receive gas from various sources through the new facility, and the main suppliers are expected to be the USA, Qatar, Egypt and Israel. In the current energy crisis, related to the war in Ukraine and Gazprom's halt of gas supply, the pipeline is of strategic importance for Bulgaria and for Europe as a whole.

The event was described as historic in the field of energy for the Balkan region.

The new LNG terminal near Alexandroupolis, which will provide an alternative for the Balkans, is scheduled to be completed by the end of 2023. It will be connected to the Greek gas transmission network and natural gas will reach Bulgaria via existing routes.

According to Prime Minister Kiril Petkov, the project is not only energy but also geopolitical and will change the energy map of the entire region.

"To the Russian invasion of Ukraine and the unprecedented pressure that Russia is currently putting on us by halting gas supplies, we, the countries of free and democratic Europe, can only resist together. We should be independent, sovereign and pursue a policy that respects the principles of international law. The Kremlin's economic blackmail against my country and the EU will not succeed because we will resist and today's event is proof of that," the PM said.

Kiril Petkov expressed his gratitude for the help that Greece is giving Bulgaria at this critical moment. In response, Greek Prime Minister Kyriakos Mitsotakis said that the Balkans are now gaining a place in the energy world of the whole of Europe so that we can unite to overcome the difficulties and replace Russian gas.

"Our peninsula, our region can have its own place in the transmission of gas in Europe, so that we can deal with the current situation through fruitful cooperation and without unhealthy competition. A significant step forward is an independent natural gas system. Alexandroupolis is a new energy gateway to Greece and to south-eastern Europe. On the one hand, through this and other projects being implemented in Greece, we will replace natural gas coming from Russia. And, on top of that, our countries together are showing a willingness to take on a new role on the new energy map of the world. Attempts at blackmail by Russia through natural gas make this cooperation not just necessary, but urgent. Greece is a pioneer in this respect and has already secured its energy autonomy, but it is also ready to help its neighbours, such as Bulgaria. The new LNG terminal in Revitusa will increase its capacity by 155,000 cubic metres and the Alexandroupolis terminal will add to this 150 thousand cubic metres," said Kyriakos Mitsotakis, Prime Minister of Greece.

"It is a new day for European energy independence. We see clear evidence of this new future here today in this city, with this LNG terminal. This is a very positive step for our common European project. We will diversify our sources of gas supply, strengthen our energy infrastructure and gradually end our dependence on Russian fossil fuels. This will make us stronger and more secure," said Charles Michel, President of the European Council.

The cost of the future facility is €382 million, of which €167 million is EU funding under a Greek operational programme. Bulgartransgaz is among the shareholders with a stake of 20 percent or 16.6 million euros.

The capacity of the terminal is 6.1 billion cubic metres of gas per year, with 500 million cubic meters reserved for Bulgaria.

"The importance of Alexandroupolis in the natural gas transmission system as a new energy gateway is key for Southeast Europe. The terminal will provide the additional natural gas volumes needed by offering access to producers around the world and connectivity on the appropriate supply routes to all interested consumers in the region. Thanks to the terminal, Bulgaria, Greece and their neighbouring countries will benefit from a large energy market and energy security and competitive energy prices. The implementation of the project will enhance the diversification of natural gas sources and promote competition to the benefit of businesses and consumers," said Vladimir Malinov, CEO of Bulgartransgaz.

Together with the Greece-Bulgaria interconnector, which should be operational as soon as possible, the plans are that the new terminal near Alexandroupolis will lead to a significant diversification of natural gas sources across Southeast Europe.