Two contracts signed for the implementation of a vertical gas corridor

The contract for the construction of a vertical gas corridor was signed in the Council of Ministers on June 6.

The purpose of the Vertical Gas Corridor is to supply Central and Eastern European countries with blue fuel from Azerbaijan and liquefied natural gas supplies. The reason for its implementation is the war in Ukraine and disrupted gas supplies, as well as Kiev's intention to shut down the last pipeline carrying Russian gas on 1 January 2025. Two procurement contracts were signed today with a consortium in which Glavbolgarstroy plays the major role, but which includes four US companies. The value of the project is 485 million BGN. First, the gas link with Greece will be expanded, which will enable us to transport 4.5 bcm/day more blue fuel than at present. Then the gas transmission section in Northern Bulgaria will be expanded, which will enable us to increase transit to Romania by 30 bcm per day. The start-up date is 1 January 2026. The aim is to do this a year earlier.

"Bulgaria is the main engine, as you know, of the initiative and assured that everything will be done to technically secure this project. The project allows, of course, first of all for diversification, and diversification is the opposite of dependence," said Dimitar Glavchev, caretaker Prime Minister.

"The Vertical Gas Corridor will not only be a strategic initiative with significance for the whole region, but it will be an instrument to guarantee the energy security of a wider region and the proof of this is our synergy and symbiosis with all the countries along the route," said Vladimir Malinov, caretaker energy minister.

"Understanding the enormous importance of this project that we have signed today, we will ensure that we will implement this project, which is so important for the region, absolutely qualitatively and in the shortest possible time," said Kalin Peshov, Chairman of the Board of Directors of the construction company.

The Vertical Corridor is a strategic initiative of the gas transmission operators of Bulgaria, Greece, Romania, Hungary, Slovakia, Ukraine and Moldova.

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