Gas pipeline between Bulgaria and Greece will be built by end of 2020

The new gas pipeline between Bulgaria and Greece will be built by the end of 2020. This was announced by Bulgaria’s Energy Minister Temenuzhka Petkova, who participated in the ceremony for signing the contracts for the project on October 10.

A loan from the European Investment Bank of EUR 110 million was negotiated for the construction of the pipe, as well as a contract with the pipe suppliers and the builders of the facility.

Minister Petkova signed a contract with the Greek energy minister to maintain tax rules for 25 years on the project.

Bulgaria participates in the construction of the pipe with 50%, with Greece and Italy each having a 25% share.

Under the plan, the pipe had to be built in 2013.