Thursday, September 29, 2022

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Balkan Stream to increase the security of natural gas supplies

The construction of the Balkan Stream gas pipeline proceeds as planned, noted the Bulgarian Prime Minister Boyko Borisov and the Serbian President Aleksandar Vučić after inspecting the site.

“The project has the support of both Washington and Moscow because it allows for a real diversification of supplies in the region,” said Mr Borisov at a press conference, quoted by Euractiv. “It will be joined by the new Alexandroupolis-Dimitrovgrad gas pipeline, from where liquefied gas will be delivered.”

The project aims at increasing the security of natural gas supplies from various sources while enhancing the competition and transparency of the natural gas market, which in turn will have a positive effect on natural gas consumers. As a key project for market integration, the Balkan Stream will contribute to securing natural gas supplies to Bulgaria and the region.

“Everything is in compliance with the rules of the European Union,” emphasised the Prime Minister Borisov, referring to the requirements of the Third Liberalisation Package.

For the gas transmission infrastructure to expand from the Bulgarian-Turkish to the Bulgarian-Serbian border, two new compressor stations will be constructed.

Also, both Mr Borisov and Mr Vučić underlined the importance of the Chiren underground gas storage facility, whose active capacity is 550 million cubic metres (mcm).

The development of the gas network in the country and in the region will also promote the natural gas trade and boost the market competition. Therefore, Chiren must become a commercial storage facility and works on its expansion are ongoing. The planned expansion consists of a staged increase of the storage volume: larger stored natural gas volumes, larger pressure in the reservoir, larger daily injection and withdrawal flowrates.

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