BusinessNewsTop StoryWorld

New pipeline from Greece to Bulgaria offsets Russian gas cut

New pipeline from Greece to Bulgaria offsets Russian gas cut

New pipeline from Greece to Bulgaria offsets Russian gas cut

Newslooks- ATHENS, Greece (AP)

The leaders of Greece and Bulgaria on Friday inaugurated a new pipeline that will supply natural gas from Azerbaijan to Bulgaria, whose vital supply of Russian gas was cut off in April amid the fallout over Russia’s invasion of Ukraine.

This photo provided by the Greek Prime Minister’s Office shows a gas pipeline in Komotini, Greece, Friday, July 8, 2022. The Greek and Bulgarian prime ministers on Friday inaugurated a new energy pipeline that will supply Azeri natural gas to Bulgaria, whose vital supply of Russian gas was cut off in April amid the fallout over Russia’s invasion of Ukraine. (Dimitris Papamitsos/Greek Prime Minister’s Office via AP)

Greek Prime Minister Kyriakos Mitsotakis stressed the importance of the new link as an alternative supply line for Bulgaria, as neighboring Greece jockeys to become a regional energy transport hub.

“This isn’t just a gas pipeline, but a crucial south-north energy bridge,” Mitsotakis said during a ceremony in northeastern Greece.

In this photo provided by the Greek Prime Minister’s Office, Greek Prime Minister Kyriakos Mitsotakis, left, and his Bulgarian counterpart Kiril Petkov, turn a valve during the inauguration of a gas pipeline in Komotini, Greece on Friday, July 8, 2022. The Greek and Bulgarian prime ministers on Friday inaugurated a new energy pipeline that will supply Azeri natural gas to Bulgaria, whose vital supply of Russian gas was cut off in April amid the fallout over Russia’s invasion of Ukraine. (Dimitris Papamitsos/Greek Prime Minister’s Office via AP)

He added that Europe needs to coordinate its response to “Moscow’s conscious choice to turn natural resources into a lever of political pressure, into a raw blackmail.”

“It is something our Bulgarian neighbors already know very well,” Mitsotakis said.

In late April, Russia cut off gas supplies to Bulgaria after it refused a demand by Moscow to pay gas bills in rubles, Russia’s currency. Relations between the two former Soviet bloc allies have tanked in recent months, and last month Bulgaria ordered the expulsion of 70 Russian diplomats, triggering an angry response from Moscow.

Bulgaria’s acting prime minister, Kiril Petkov, highlighted the pipeline’s key role in ending Russia’s gas monopoly in his country.

This photo provided by the Greek Prime Minister’s Office shows a gas pipeline in Komotini, Greece, Friday, July 8, 2022. The Greek and Bulgarian prime ministers on Friday inaugurated a new energy pipeline that will supply Azeri natural gas to Bulgaria, whose vital supply of Russian gas was cut off in April amid the fallout over Russia’s invasion of Ukraine. (Dimitris Papamitsos/Greek Prime Minister’s Office via AP)

The 182-kilometer (115-mile) pipeline inaugurated Friday will run from the northeastern Greek city of Komotini to Stara Zagora in central Bulgaria. It starts with an initial capacity of 3 billion cubic meters of gas a year, and the prospect of future expansion to 5 million cubic meters. Commercial deliveries are expected to start by Oct. 1.

Greece is looking to serve as an energy hub for the Balkans, using fossil fuels from the Caspian Sea and the southeastern Mediterranean, and, potentially renewable energy from Egypt, to supply the region amid the fallout of the war in Ukraine.

Greece is also building a liquefied natural gas terminal off the northeastern port of Alexandroupolis, near Komotini, which Mitsotakis said would in the future provide additional gas for the new Greek-Bulgarian pipeline.

Read more business news

Previous Article
G-20: Yellen to push price cap on Russian oil
Next Article
AP-NORC poll: Inflation, expenses rise sharply as Priority

How useful was this article?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this article.

Latest News

Menu