The implementation of one of the main priorities of the government in the field of energy within the Bulgarian presidency of the Council of the European Union is proceeding – the construction of the European gas distribution hub Balkan, which will contribute to the energy security in South East Europe. In the presence of the Minister of Energy Temenuzhka Petkova, Bulgartransgaz EAD and the selected consortium signed the contract for the feasibility study for the Balkan gas hub.
The feasibility study will assess in details the trade and technical viability of the project, determine the exact business model for its realization and allow the finalization of the regulatory framework and structure for its financing. The study will analyze the target markets, the demand and offer of natural gas. A road map for the realization of the project will be developed.
It is recalled that last year the European Commission approved the funding of the feasibility study for the Balkan gas hub project, amounting to EUR 920,500 (half of the estimated total value) under the Connecting Europe Facility. The total amount of the contract signed today is BGN 2 327 437. Following a public procurement, the Bulgarian-Swiss Consortium DZZD AF-EMG Consult was selected as a contractor. Within 40 calendar days of contract signing, the Consortium will present an interim report on the activities carried out and the comprehensive study will be prepared within 110 days.
