Serbia and Bulgaria recently completed their construction work on the much-anticipated gas pipeline, which will help reduce their dependence on Russian gas and increase energy diversification. This news was announced on December 10 by Bloomberg.
The new gas pipeline is officially called the Bulgaria-Serbia Gas Interconnection and will provide both countries with an alternative source of gas, allowing them to obtain their natural gas from multiple suppliers. This increased diversification of gas supply will help both countries reduce their reliance on Russia, and also provide them with more stable energy prices.
The pipeline, which runs from Bulgaria’s border with Romania to Serbia’s border with Hungary, is expected to be in full operation by the end of 2021. This will provide both Serbia and Bulgaria with significant energy security, as the pipeline will be able to transport up to 180 million cubic meters of natural gas per hour in either direction.
The pipeline will increase the integration of Bulgaria and Serbia’s energy markets. This is especially important for Serbia, which has previously relied on Russia for most of its natural gas supply. Now, Serbia will be able to access gas from the European market, as well as from Bulgaria and Romania.
The project is also planned to create more jobs in both countries, and help attract much-needed foreign direct investments. In total, the project is estimated to cost around €490 million, and will be funded by the European Union.
The Bulgaria-Serbia Gas Interconnection is a major step forward for both countries, and will help them increase their energy security and economic stability. This landmark project will also help both countries create a more efficient and resilient energy system, which will benefit them for many years to come.
