EC approves 33 mln euro financing for construction of Greece-Bulgaria gas link

03/04/2019 09:06 Natural Gas


The European Commission said on Tuesday that it has approved 33 million euro ($37 million) in EU financing for the construction of the gas interconnector Greece-Bulgaria.

As a result of the project, consumers will enjoy lower prices on the back of increased competition on the gas market, the EU's executive body added.


Earlier on Tuesday, ICGB, the company developing the Gas Interconnector Greece-Bulgaria project, said that Greece's J&P-AVAX and a tie-up named IGB-2018 have submitted offers in the tender for awarding a contract for construction of the gas link. The tender is worth an estimated 145 million euro, VAT excluded.


According to previous statements from ICGB, the IGB-2018 tie-up comprises Italy's Bonatti, and Bulgarian construction companies GP Group and Glavbolgarstroy International.


ICGB is planning to complete the selection process next month, paving the way for construction work to begin in June. The deadline for completing construction works is 18 months from their start.


ScottishPower wins consent for battery storage at 539-MW wind farm

11/06/2019 10:48:00

The Scottish government has given the thumbs-up to the construction of a 50-MW battery storage facility at the site of ScottishPower Renewables’ 539-MW Whitelee wind farm.


Serbia, Russia to launch joint LNG projects

11/06/2019 10:45:00

The Ministry of Mining and Energy of Serbia and Russian state gas company Gazprom have signed an agreement on the construction of natural gas (LNG) stations in Serbia.


Total produces first gas from Culzean field in North Sea

11/06/2019 10:35:00

French oil major Total has started up production from the Culzean gas condensate field located on Block 22/25a, 230 kilometers off the coast of Aberdeen, in the UK.