N. Macedonia to launch works on gas link with Greece in early 2022 - econ min

North Macedonia's state-owned company National Energy Resources (NER) will sign a contract with the European Investment Bank (EIB) for a 28.9 million euro ($32.6 million) loan to cover part of the costs for the project, Bekteshi said in a Facebook post on Monday.

North Macedonia's government will contribute some 54 million euro of the total investment worth 100 million euro for the construction of the gas link, according to an earlier government statement.

The governments of North Macedonia and Greece signed an agreement for the construction of the natural gas interconnector in July.

The 123-kilometre interconnector pipeline will extend from Greece's Nea Mesimvria to North Macedonia's Negotino via the Evzoni/Gevgelija border checkpoint, connecting the national natural gas transmission systems of the two countries, Greece's gas operator DESFA said in an earlier statement. Its initial annual capacity will be 1.5 billion cubic metres, with an option to double it.

The interconnector will help North Macedonia ensure security of gas supply and liquidity on the gas market, as well as to provide access to natural gas through the Southern Gas Corridor.

The Southern Gas Corridor comprises the Trans Adriatic Pipeline (TAP), South Caucasus Pipeline (SCP) and the Trans Anatolian Pipeline (TANAP). Connecting with the TANAP at Greece's border with Turkey, TAP stretches across northern Greece, Albania and the Adriatic Sea before reaching southern Italy's coast where it connects to the Italian natural gas network.

($ = 0.8859 euro)