One of the key steps in the expansion of the underground gas storage at Bulgaria's Chiren gas storage facility, the construction of the above-ground infrastructure and the installation of new compressors, has already been completed, Energy Minister Zhecho Stankov said in an interview with Bulgarian National Television. Minister Stankov explained that this will allow larger quantities of natural gas to be pumped at a lower cost during the spring and summer seasons.
A permit of use has already been issued for the compressors. The expansion will increase Chiren's current capacity of 550 million cubic metres by 20%. The Minister pointed out that this would guarantee the country's energy security.
Regarding the investigation by the European Public Prosecutor's Office (EPPO) into the expansion of the gas storage facility, all the information requested had been provided to dispel any doubts, Zhecho Stankov added.
He added that Bulgaria would be the first country to start actual construction of the Vertical Gas Corridor - an infrastructure project linking Greece, Bulgaria and Romania. The first phase covers a 48-kilometre stretch from the Greek border at Kulata to Kresna in south-western Bulgaria, allowing capacity to be increased from 2.3 to 3.6 billion cubic metres.
Bulgaria has the opportunity to reap the full benefits of eurozone membership , but this will require stronger fiscal discipline, effective management of transition risks, and accelerated structural reforms , the International Monetary Fund (IMF)..
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