In the Greek capital Athens, representatives of the gas transmission operators of Greece, Bulgaria, Romania, Hungary, Slovakia, Ukraine and Moldova presented to the interested parties their projects for implementation of the Vertical Gas Corridor. On the Bulgarian side, Bulgartransgaz EAD Еxecutive director, Kiril Ravnachki and company's experts took part in the event.

"In dialogue with market participants, we will achieve our common goals of ensuring access to diverse and reliable sources of natural gas along a secure and efficient route, namely the Vertical Gas Corridor," said the Executive director of Bulgartransgaz EAD, Kiril Ravnachki. "Thanks to the well-developed gas transmission infrastructure in the region and in Bulgaria, in particular, local markets are increasingly attractive for new suppliers," he emphasized in his welcome notes during the event. In his words, liquefied natural gas supplies to the European Union reach almost 50% of imports and the tendency for the share is to increase. "Following expiry of the agreement on natural gas transport from Russia via Ukraine in early 2025, the Vertical Gas Corridor infrastructure will be vital for supply of liquefied natural gas from the south to the north," Ravnachki added.

We remind you that on May 2 Bulgartransgaz EAD launched the binding phase of the incremental capacity procedure, together with the operators of Greece - DESFA S.A., Romania - Transgaz S.A., as well as with ICGB AD. "Following the positive results of the non-binding phase of demand assessment for capacity increase between Greece and Bulgaria and Bulgaria and Romania, now we also hope for interest within the binding phase that is currently underway," Ravnachki underlined.

The gas transmission system operators focused on maximum use of the possibilities of the existing infrastructure in implementation of the Vertical Corridor. The planned targeted investment for expansion are critical to strengthen the infrastructure and ensure reliable, affordable and diverse natural gas supply for European consumers. During presentation of the projects, it also became clear that the main objective in developing the projects is to preserve the economic attractiveness of the route.