Bulgartransgaz gets EU funding for feasibility study on Balkan gas hub project

Bulgartransgaz gets EU funding for feasibility study on Balkan gas hub project Denys Prykhodov/Shutterstock.com

SOFIA (Bulgaria), February 17 (SeeNews) - Bulgarian gas transmission system operator Bulgartransgaz said on Friday it will receive 920,000 euro ($985,453) in EU financing for the preparation of a detailed feasibility study on the planned Balkan gas hub project.

The funding approved by the European Commission will cover 50% of the cost of the feasibility study, which aims to asses the commercial and technical viability of the project and the risks associated with its implementation, the company said in a statement.

In December 2014, the Bulgarian government proposed to the European Commission to build an EU-funded regional gas hub near the Black Sea port of Varna to dispatch gas deliveries to the rest of Europe - to Greece, Romania, Hungary, Croatia, Slovenia and, through those countries, to EU member states in central and western Europe, as well as to non-EU Serbia, Macedonia, and Bosnia and Herzegovina.

Gas can be fed into the hub from Russia, from Bulgaria's potential gas deposits in the Black Sea or, via interconnectors with Greece and Turkey, from the Caspian region or the Eastern Mediterranean, or from the Greek and Turkish LNG terminals, the government said at the time. The gas hub could also be supplied via an interconnector with Romania, which is estimated to have significant deposits in the Black Sea shelf.

($ = 0.9386 euro)

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