Rosinvest.com: Bulgaria Pins Diversification Hopes on Azeri Gas via IGB

A landmark event, part of the project to bring Azeri gas supplies to Europe, could take place next month – the signing of the final investment decision on the construction of the interconnector Greece-Bulgaria (IGB), according to an article carried by rosinvest.com.

The IGB construction is projected to start in March 2016 and close in 2018. The interconnector with Greece will enable Bulgaria to make a big step toward reducing its almost total dependence on Russia for gas supplies, the article “Azerbaijan and the Gas Hopes of Bulgaria” reads.

With the South Stream gas pipeline project now abandoned by Russia and the risk of potential disruption of Russian gas supplies via Ukraine still existing, Bulgaria now has all its hopes of energy diversification pinned on Azeri gas which the country could start receiving via the IGB.

Bulgaria currently relies on imports of Russian gas via a sole pipeline route crossing Ukraine to meet almost 95% of its needs.

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