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EU Commission approves 16 mln euro scheme to support Bulgarian gas storage’s expansion

The European Commission has approved, under EU State aid rules, a 16 million euro Bulgarian measure to support the expansion of Bulgartranstaz’s natural gas storage facility in Chiren.

Bulgartranstaz decided to invest approximately 285 million euros to expand the capacity of its natural gas storage plant in Chiren, which is the only natural gas storage facility in the country.

Bulgaria notified the Commission of its plans to support Bulgartransgaz’s investment with a nine-year 16 million euro public guarantee on the loan to finance the measure. The aim is to ensure the security of the gas supply, enhance competition in the gas market, thanks to a greater integration of the plant in the network and encourage gas trade in the region.

The storage capacity of the facility is expected to increase from 550 million to 1 billion cubic metres. Moreover, the capacities for withdrawal and injection of natural gas in the grid will also be increased.

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