Pyatt welcomes steps on Greek-Bulgarian gas pipeline

US Ambassador Geoffrey Pyatt welcomed agreements that were signed last week regarding the construction of a natural gas pipeline between Greece and Bulgaria.

“An important and welcome development as we seek to enhance diversity of supply and routes in the European gas market. Also complements the Planned Alexandroupoli floating LNG storage and regasification unit,” he said in a tweet.

Last week several agreements were signed in Sofia regarding the construction of the IGB gas pipeline linking the two countries.

A cooperation agreement was signed between IGB and TAP for connectivity of the two gas pipelines, while, a joint declaration was also signed between the shareholders in the project company for confirming a commitment to start its construction.

Additionally, a Memorandum of Understanding between the Bulgarian Energy Holding (BEH) and the European Investment Bank (EIB) was signed regarding the realization of the IGB project. The memorandum concerns securing preferential loan financing in connection with using the state guarantee of Bulgaria (expected 110 million euros) and is a key step in IGB’s realization.