The IGB Gas Interconnector Greece-Bulgaria is a tremendously significant project, said Greece's Energy & Environment Minister Kostas Skrekas, speaking at the city of Komotini on Monday.
Acocompanied by his Bulgarian counterpart Alexander Nikolov and also by the Prime Minister of Bulgaria Kiril Petkov, Skrekas visited the project's measuring station at Komotini.
"Completion of the project will significantly increase the region's geopolitical importance, and will help diversify energy sources," he noted.
After inspecting the unfolding construction project carried out by Greece's AVAX construction group, Skrekas pointed out that the 182km pipeline "helps towards becoming independent from Russian gas, and to improve the competitiveness of the two countries. It also enhances liquidity in energy transfer - and this pushes energy prices down."
The Greek minister also mentioned the new interconnecting power line project between Greece and Bulgaria, Maritsa East 1 (BG) - Nea Santa (EL), which, when completed, it will "almost quadruple the capacity of electricity transmission to and from Bulgaria and Greece, in order to reduce energy prices, and to take advantage of each country's competitive advantage."
Bulgarian Prime Minister Petkov noted that while Bulgaria will import natural gas from this pipeline, it will be able to export electricity to Greece at the same time. This, he added, is creating "a common economic area, where we will feel stronger, with greater potential for diversification in energy sources."
Petkov also expressed his conviction that the project will have been completed by June this year, as promised, he noted, by the constructor company.