BUSINESS

AVAX to build Bulgaria-Greece gas pipeline

TAGS: Energy, Business

Greece’s AVAX has won the tender to build a gas pipeline between Greece and Bulgaria for 133.85 million euros ($150.46 million), project manager ICGB said on Tuesday.

Bulgaria plans to launch construction of the 182 km (113 miles) interconnector link later this month and have it operational in 2020 to transport Azeri gas to Bulgaria and end its almost complete dependence on Russian gas supplies.

The Greek company won over a consortium of two Bulgarian companies and Italy’s Bonatti, which submitted an offer of 229.3 million euros in the tender.

ICGB has already picked Corinth Pipeworks, part of Cenergy Holdings, to provide the pipes for the gas link with the planned annual capacity of three billion cubic meters.

ICGB is 50 percent owned by Bulgaria’s state-held BEH energy holding company. The remaining shares are held by the Greek gas company DEPA and Italy’s Edison. [Reuters]

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