Greece and Bulgaria discuss joint projects and strategic partnerships in energy sector

Greece and Bulgaria are engaging in discussions over two significant energy projects. The first project involves expanding the gas storage facility in Chiren and constructing two new reactors at the Kozloduy Nuclear Power Plant (NPP). Greece has expressed interest in participating in both ventures, with the intention of reserving a portion of the capacity in Chiren and acquiring additional volumes of gas for a fee. Moreover, they are open to contributing as investors or becoming long-term customers for electricity purchase at the Kozloduy NPP. This topic was among the focal points during the recent visit of Prime Minister Academician Nikolay Denkov to Greece, where he held meetings with his Greek counterpart Kyriakos Mitsotakis and engaged in plenary talks involving ministers from both countries.

In reciprocation, Bulgaria seeks to join the concessions of Greek ports in Kavala and Alexandroupolis. The country’s interest lies in acquiring a 20% participation in the Kavala port concession. The concessionaire companies, on the verge of signing a contract with Greece, have already agreed to include a Bulgarian partner, likely a state-owned company, in the deal. As for the Alexandroupolis port concession, it is presently on hold, but Bulgaria plans to express its interest and potentially participate once the concession is announced again.

The relationship between Bulgaria and Greece extends beyond energy projects, as they share a strategic partnership concerning the North-South energy and transport corridors. During a time when Gazprom suspended gas supplies to Bulgaria in the past, Greece played a pivotal role in ensuring an uninterrupted supply of gas to the Bulgarian economy and households. This cooperation has led to ongoing efforts to enhance gas supplies through the installation of additional compressor stations, allowing Bulgaria not only to meet its own gas demands but also to transfer gas to neighboring countries to the north and west. Moreover, discussions between the two nations have focused on the importance of the Alexandroupolis-Burgas oil pipeline, which will play a crucial role in powering the refinery in Burgas once the derogation for Russian oil processing there ends. The Greek side aims to complete the oil pipeline construction by the end of 2024, and both countries are exploring potential routes and practical steps for the successful implementation of this vital project.

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