EU invests in two Bulgarian energy infrastructure projects

EnergyTechnical ArticlesSouth-East European INDUSTRIAL Мarket - issue 1/2016

EU invests in two Bulgarian energy infrastructure projects

Two Bulgarian energy projects will receive financing under EU’s Connecting Europe Facility funding programme for infrastructure. On the 19th of January this year, the EU member states acceded on a proposal of the European Commission to invest EUR 217 million in fifteen key trans-European energy infrastructure projects mainly in Central and Eastern Europe. Nine of the projects are in the gas sector and will receive financial aid worth EUR 207 million, while the other six which are in the electricity sector will receive EUR 10 million.

"Today, we are targeting those regions in Europe which need it the most. With this funding we will help secure supplies and fully integrate Europe’s energy market by connecting networks across Europe. We must press ahead with the modernisation of our energy networks to bring any country still isolated into the European energy market. Modern energy networks are also crucial to ensuring efficient use of our energy resources and therefore key to reaching our climate goals," said the European Commissioner for Climate Action and Energy Miguel Arias Canete.

Thirteen of the projects relate to studies and will be awarded EUR 29 million, while the remaining EUR 188 million will be allocated to two construction projects. The culled projects are expected to increment energy security and contribute to ending the isolation of EU member states from EU-wide energy networks.

The projects will additionally contribute to consummating the European energy market and the integration of renewable sources of energy into the electricity grid. Bulgaria will be allocated funding for conducting modernisation studies on its gas transmission network, which is aimed at amendingpossibilities for gas transport in the region.

The neighbouring Greece, Romania, Macedonia and Turkey are also expected to benefit from the improved possibilities for transport of gas.This development for the EU gas market will additionally allow gas from the Caspian region and other potential sources, including LNG, to reach Central Europe.