EC approves 28 mln euro grant for Bulgarian section of gas link to Serbia

A grant agreement will be signed by Bulgartransgaz and the Innovation and Networks Executive Agency (INEA) following the decision of the Commission, Bulgartransgaz said in a statement on Friday.

On October 1, a 3.7 million levs ($2.2 million/1.9 million euro) contract for the free-of-charge transfer of assets under the IBS project was signed between Bulgaria's energy ministry and Bulgartransgaz. The company will thus be able to continue with the project implementation by updating the project documentation with a view to obtaining the building permit and starting works at a later stage, it explained.

At the end of September, the managing authority of EU's operational programme Innovations and Competiveness approved some 5.5 million levs in support meant for the completion of preparatory activities up to the issuance of a building permit for the Bulgarian section of the gas link, Bulgartransgaz also said.

Earlier this year, Bulgartransgaz launched the first two tenders related to the implementation of the project for construction of a gas interconnection between Bulgaria and Serbia - for technical design of the gas link on Bulgarian territory, with an estimated price of 540,000 levs, and for provision of project consultant services and construction supervision for an estimated price of 320,000 levs.

The interconnector between Bulgaria and Serbia, which is expected to be completed in May 2022, is of key importance for the implementation of the concept for the establishment of a gas distribution centre in Bulgaria and it is one of the priority projects of the High Level Group on Energy Connectivity in Central and South-East Europe (CESEC).

($ = 0.851002 euro)