July 2 (SeeNews) - Bulgaria's parliament has ratified on Thursday an agreement with Greece for a fixed corporate tax regime that will apply to ICGB - the operator of the gas link between the two countries, for 25 years from the start of commercial operations, Bulgarian media reported.
The agreement also determines the income of Greece and Bulgaria from the project based on the length of the natural gas transmission pipeline on each of the two countries' territory, public radio BNR reported.
The planned length of the pipeline, which is currently under construction, is 182 km, of which 151 km will be laid on Bulgarian territory, while 31 km will be laid in Greece, according to previously published data.
Bulgaria and Greece signed the tax regime agreement in October 2019, after the European Commission cleared the agreement under its state aid rules in November 2018.
The pipeline, which has a total estimated cost of 220 million euro ($242.7 million), will connect the Greek gas transmission system in the area of Komotini to the Bulgarian gas transmission system in the area of Stara Zagora. The projected capacity will be up to 3 billion cu m per year in the direction from Greece to Bulgaria.
($ = 0.9066 euro)