Monday, January 18, 2021
Home Oil & Gas Balkan Stream to increase the security of natural gas supplies

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.

Most Popular

Orlen Group signs a grid connection agreement for its offshore wind farm

Baltic Power, a member of the ORLEN Group, has signed a grid connection agreement with Polskie Sieci Elektroenergetyczne for its offshore wind farm, a guarantee that the clean energy generated can be fed into the national power system.

McKinsey: demand for fossil fuels will not return to pre-COVID growth path

In its latest report, McKinsey&Co forecasts the ways in which energy production and demand patterns will change through to 2050. Renewables will become cheaper than fossil fuels and by 2036, half of the global power supply is expected to come from RES.

TGE and PGNiG set up cooperation to create a biomethane market in Poland

The Polish Power Exchange and PGNiG signed a cooperation agreement with an aim to develop together a biomethane market, which offers considerable potential for the energy transformation of the Polish economy.

MAN Truck & Bus Slovenia partners with Petrol to develop sustainable logistics transport

MAN Truck & Bus Slovenia has signed a letter of intent with Petrol for the development of sustainable logistics and urban transport, to help achieve the goal of reducing CO2 emissions in urban centres.