Bulgaria plans to become a shareholder in a liquefied natural gas terminal off the coast of northern Greece by the end of the year as the Balkan country tries to diversify its energy supplies, Energy Minister Temenuzhka Petkova reported, quoted by Reuters.
The government has been considering a stake of about 25 percent in the development of a floating facility off the Greek city of Alexandroupolis for over two years and will most likely participate with state gas company Bulgartransgaz.
“Bulgaria is considering to become a shareholder in the project. Thus we can ensure natural gas supplies from different sources, including from the United States,” Petkova said in a statement after meeting the U.S. ambassador to Bulgaria.
At present, over 95 percent of Bulgaria’s gas needs are met by supplies from Russia’s Gazprom.
The LNG terminal, with an estimated annual capacity of 6.1 billion cubic metres (bcm), will aim to supply gas to southeastern Europe via a natural gas pipeline that will cross through Greece, the Interconnector Greece-Bulgaria (IGB).
Petkova said the IGB pipeline is expected to become operational in the second half of 2020.