Bank Of Baku

Bulgaria proposes gas hub construction on its territory

Bulgaria proposes gas hub construction on its territory
# 12 December 2014 18:49 (UTC +04:00)

Baku-APA. Bulgaria has sent a proposal to the European Commission (EC) for the construction of a gas hub in the country, the government said in a press release on Friday, APA reports quoting Xinhua.

 

"Bulgaria proposes to discuss with the EC the construction of a gas hub, a receipt/distribution point of Russian gas to Varna, where the South Stream pipeline entry point should be," the press release said.

 

The hub could become a distribution center for the EU members in the region, including Bulgaria, Greece, Romania, Hungary, Croatia, Slovenia, it said.

 

Through these countries, the gas could reach Central and Western Europe, as well as countries like Serbia, Macedonia, and Bosnia and Herzegovina, the Bulgarian government proposed.

 

"The letter further highlights that advantages Bulgaria has to offer are the country's well-developed gas transmission infrastructure and the construction of interconnectors with neighboring countries," the press release said.

 

The proposed hub could rely on Russian gas from South Stream and potential natural gas deposits in the Black Sea, it said.

 

The hub could also be supplied with gas from Caspian and Eastern Mediterranean region through interconnectors with Greece and Turkey, as well as through Greek and Turkish LNG terminals, it said.

 

"We will rely on the support and financial assistance of the EU for the expansion and construction of necessary gas infrastructure for this hub," the Bulgarian cabinet wrote.

 

In early December, Bulgaria expressed its concern about the possible termination of South Stream gas pipeline, after Russian President Vladimir Putin said his country can not continue the project implementation.

 

Currently, the Balkan country relies on Russia for 96 percent of its gas needs through a single pipeline passing through Ukraine.

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