Presidents Radev and Vucic inaugurate the construction works of the Bulgaria-Serbia Interconnector (IBS) on Bulgarian territory

 

The gas interconnection with Serbia is a pledge for the future and an expression of our countries' will not only to develop bilateral relations, but together to build a vision for a common European future based on solidarity, mutual trust and support, innovative approaches and new technologies, President Rumen Radev said at the opening of the specialised works on the construction of the Bulgaria-Serbia Interconnector (IBS) on Bulgarian territory. The President of the Republic of Serbia, Aleksandar Vucic, also attended the event. The two heads of State held a session on the sidelines of the event and discussed issues on the agenda of bilateral relations, the subsequent deepening of connectivity and the promotion of economic exchanges, tourism and ties between the citizens of the two countries, the Bulgarian national minority in Serbia and the development of good-neighbourly relations.

 

The Bulgarian head of State pointed out that the construction of the gas interconnection is of strategic importance and is an important step in deepening the partnership with neighbouring Serbia, contributing to the advancement of the entire region. The President highlighted the fruitful cooperation with the European Commission, which leads to mutual benefits not only for Bulgaria and for Serbia. It also creates real diversification and security of supply for Southeast Europe. With the implementation of the project, Bulgaria will gain greater access to European markets, while Serbia will have access to new sources of gas through the Southern Gas Corridor and the liquefied gas terminals in the Aegean, thanks to the recently commissioned interconnector between Bulgaria and Greece, as well as this country's agreement with Turkiye on access to their liquefied gas terminals.

 

The expanded cooperation leads to greater opportunities, larger quantities of gas for industry and households, lower prices, a cleaner environment, reduced carbon emissions and a more sustainable economy, Radev said. He highlighted this country's active role in energy connectivity in the region, as a reliable partner for natural gas transmission and as a supplier of electricity. Bulgaria is the third largest net exporter of electricity in Europe and it was this country that had initiated the proposals to the European Commission to help stabilise the energy systems in the Western Balkans. With good cooperation between our countries, we can negotiate together and achieve better prices and conditions, the head of State stressed. He expressed his expectation that the deadline for the construction works will be met and the gas interconnector between Serbia and Bulgaria will be completed by the yearend. 

 

President Vucic in turn expressed his satisfaction with the fact that Bulgaria and Serbia are implementing a major joint project such as a gas interconnection, which is of great importance not only for the two countries but also for the region. Bulgaria is a good and reliable friend not only in good times but also in difficult times, Vucic stressed. 

 

The ceremony was attended by the ministers of energy of the two countries, Rosen Hristov and Dubravka Djedovic, the General Manager of Srbijagas, Dusan Bajatovic, the Executive Directors of Bulgartransgaz and Glavbolgarstroy, Vladimir Malinov and Kalin Peshov, who are involved in the implementation of the project, as well as the Head of the CEF Energy and Renewable Energy Financing Mechanism at CINEA, Beatrice Coda. 

 

In a video address, European Commissioner for Energy, Kadri Simson, underlined the importance of the energy project for the whole of Europe. We, the European Commission, are proud to support this project, which will support energy independence and diversification in the region, Simpson said.

 

The Bulgaria-Serbia Interconnector (IBS) is funded by the Connecting Europe Facility. It will have a total length of about 170 km from Novi Iskar, Republic of Bulgaria to Nis, Republic of Serbia, of which about 62 km is on Bulgarian territory. The pipeline will have a capacity of up to 1.8 bcm/y with the possibility of reverse flow.