ECONOMY

Greek minister highlights IGB significance

Greek minister highlights IGB significance

The Gas Interconnector Greece-Bulgaria (IGB) pipeline is a tremendously significant project, said Greece’s Energy and Environment Minister Kostas Skrekas, speaking in the northern Greek city of Komotini on Monday, where he visited the project’s measuring station.

“Completion of the project will significantly increase the region’s geopolitical importance, and will help diversify energy sources,” he noted.

After inspecting the unfolding construction project carried out by Greece’s AVAX construction group, Skrekas pointed out that the 182-kilometer pipeline “is helping toward becoming independent from Russian gas, and improving the competitiveness of the two countries. It also enhances liquidity in energy transfer – and this pushes energy prices down.”

He further mentioned the new interconnecting power line project between Greece and Bulgaria, which, when completed, will “almost quadruple the capacity of electricity transmission to and from Bulgaria and Greece, in order to reduce energy prices, and to take advantage of each country’s competitive advantage.”