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The move comes after the US company in August completed its agreed acquisition of 50% of privately-held Bulgarian natural gas supplier Overgas Inc.

The project completes the 400 kV electricity ring between Albania, North Macedonia and Greece, enhancing cross-border exchanges in electricity and contributing to the development of the regional market

TAP will facilitate gas supplies to South Eastern European countries through prospective interconnectors. In particular, Bulgaria will be able to cover up to 33% of its total gas demand through TAP after the completion of the Interconnector Greece Bulgaria (IGB)

The region of South-East Europe is identified as the only one on the continent that will face a major gas security issue in case of an interruption of supply from Ukraine. This was shown by an analysis published by European Network of Transmission System Operators for Gas (ENTSO-G) and by Energy Union Choices.