As the energy crisis is still unfolding in the European Union (EU), mainly caused by Russia’s suspension of gas supplies and the observed energy shortages at global level, the EU has been eager to diversify its gas imports, as, according to an official statement from the European Commission, “amid Russia’s continued weaponization of its energy supplies, diversification of energy imports is a top priority for the European Union”.
As the energy crisis is still unfolding in the European Union (EU), mainly caused by Russia’s suspension of gas supplies and the observed energy shortages at global level, the EU has been eager to diversify its gas imports, as, according to an official statement from the European Commission, “amid Russia’s continued weaponization of its energy supplies, diversification of energy imports is a top priority for the European Union”.
On October 1, 2022, the start of the commercial operation of the Interconnector Greece-Bulgaria (IGB) that transports natural gas from Greece to Bulgaria was a relief for the wider SE European region, as it is expected to decrease regional dependence on Russian gas and enhance energy security. This development also created a sense of security in society that households will not freeze in the winter, while at the same time that there is an alternative to the deadly energy embrace of Russia.
Undoubtedly, IGB is changing the gas and energy map in the Balkans. The opportunity for the region to connect even further to the gas networks of SE and Central Europe and become a gas hub can be achieved through the construction and operation of a number of gas infrastructure projects that are now in the planning or in the implementation phase.
In its latest Monthly Analysis, which is accessible (here), IENE focuses on the strategic importance of IGB and how it can become a significant project not only for Bulgaria but also for the wider region of SE Europe, providing alternative gas supplies and also helping diversify energy sources of neighboring countries. IGB can also be characterized as a flagship project and a best practice for the implementation of various other gas infrastructure projects that are currently in the planning or in the implementation phase.
