Energy Minister Petkova: "Greek Crisis Will Not Upset Gas Interconnection Plans"

Sofia, May 26 (BTA) - The final investment decision on
construction of the Bulgaria-Greece gas interconnector is
expected to be signed in Sofia on June 12, Bulgarian Energy
Minister Temenouzhka Petkova told journalists here on Tuesday.

Earlier in the day, Petkova said that the interconnector with
Greece is very important for Bulgaria because it will give the
country access to Caspian gas.

The Energy Minister delivered a report on "Diversification of
Natural Gas Sources and Routes" at a conference on "Energy
Strategy for Europe: Diversification and Energy Security,"
organized by GERB jointly with the Hanns Seidel Foundation and
the Wilfried Martens Centre.

Petkova said that progress on the project slowed down in recent
years, but a roadmap has been drawn up over the last five months
and a budget has been defined for the project, which will make
it possible to start purchasing land tracts along the route of
the gas interconnector. The last step - making a final
investment decision, is due in June. Construction works must
start by March 2016, and the interconnector should be finished
by 2018, the Energy Minister said.

Asked by BTA whether the situation in Greece and the financial
crisis there may frustrate the signing of the investment
decision, Petkova said she does not think this can lead to a
change of plans regarding the project. "Both the Bulgarian and
the Greek side have expressed their position that this is a very
important project for the two countries as well as for the
entire region," she said.

The Energy Minister commented that the Bulgarian side has not
been formally notified by Gazprom of its decision about South
Stream and about an abandonment of the project. Petkova noted
that it is too early to talk about Turkish Stream. "The idea of
laying this pipeline across Greece, which is a EU Member State,
means that this project has to be discussed by the Community,
and this has not happened so far," she said.

Petkova is convinced that the new agreements with the two
US-owned thermal power plants in the Maritsa Basin will be a
fact by the end of June. Efforts are being made to borrow funds
by which the National Electric Company can pay the amounts due
to the plants, the Energy Minister said.

Petkova expects an arbitral award in the Belene N-Plant case by
the end of this year.

In early June, the Public Financial Inspection Agency will
launch a check of green electricity producers, she said.