Sunday, January 17, 2021
Home Oil & Gas Balkan Stream means 100% diversification for Bulgaria and the region

Balkan Stream means 100% diversification for Bulgaria and the region

While inspecting the construction site of the Balkan Stream natural gas pipeline, Bulgaria’s Prime Minister Boyko Borissov underlined how the country is working towards a 100 per cent diversification.

There are over 1,400 pieces of heavy construction machinery along the 480 kilometres route and the project is entering its final phase. As underlined by the Prime Minister, the capacity of the Balkan Stream could be increased by up to 20 billion cubic meters (bcm), helping the gas diversification throughout the route, not only for Bulgaria but also for Serbia, Hungary and Austria. 

“We are making a very good investment so that Bulgaria can play a key role in the gas distribution and transportation of natural gas in Europe for decades to come,” said Prime Minister Borisov earlier in March.

Expanding the gas transmission infrastructure from the Turkish-Bulgarian to the Bulgarian-Serbian border is a priority for the Bulgarian government. Its implementation will increase the security of natural gas supplies from various sources and it will strengthen competition and transparency in the natural gas market.

“We will be able to supply gas in all directions: from North to South and from East to West,” Mr Borissov explained. “At the same time, we will provide natural gas from Asia to Europe.”

“This is a very impressive project,” commented Saudi Arabia’s Deputy Energy Minister Aabed Abdullah al-Saadoun, who accompanied Prime Minister Borissov.

According to him, Saudi Arabia will keep supporting Arkad, the company implementing the project, so that it would be completed on time and with quality. “This is an important step for cooperation between Saudi Arabia and Bulgaria,” he added.

Mr Borissov also stressed that the construction of Balkan Stream continued in full force even during the pandemic. In addition, measures have been taken to preserve the archaeology found along the route and farmers have been given the opportunity to harvest.

If you liked this content, follow us also on social media.

Most Popular

Innogy signs an agreement with Czech Ministry of Industry to introduce new energy-saving measures

Innogy has signed an agreement with the Ministry of Industry and Trade to improve the country’s energy efficiency and introduce energy-saving measures. Thus, the country is aligning with the EU Directive that obliges countries to save 0.8% of their yearly energy consumption by 2030.

A hundred efficient solutions to reverse global warming

Not only one book, but a hundred efficient solutions to stop the climate catastrophe. The New York Times bestseller edited by Paul Hawken, Drawdown, offers many ways to save our planet. And avoiding food waste is only one of them.

Flexibility will be a key word for gas markets in 2021

In spite of an expected gradual recovery in 2021, the COVID-19 crisis will have long-lasting impacts on natural gas markets. Market players have to adjust their strategies to a highly volatile environment and the repercussions of the pandemic could trigger fundamental changes.

Poland’s chance to become the leading regional player on offshore wind

Poland has adopted the Offshore Wind Act. A historic day for a country that as of today has no offshore wind capacity installed. The first wind farms will appear in 2024 and in 20 years from 8 to 11 GW of offshore wind power capacity will be installed.