The two contracts, which were signed today in the building of the Council of Ministers, regarding the Vertical Gas Corridor initiative, concern the beginning of the design and construction of part of the necessary gas transmission infrastructure - looping from Kulata to Kresna and from Rupcha to Vetrino. In this way, an increase in the capacity for the transmission of natural gas in the direction from Greece to Bulgaria and from Bulgaria to Romania is ensured. The main advantage of the project is that it provides an opportunity for diversification, said acting Prime Minister Dimitar Glavchev.
Official Minister of Energy Vladimir Malinov stated that the Vertical Gas Corridor will not only be a strategic initiative of importance for the entire region, but also a tool for guaranteeing energy security in a wider region. "Today's public procurement, for which the contract was signed, is the most key to the realization of this project," said the minister, who is convinced that the cooperation of American and Bulgarian companies will lead to the successful implementation of many projects on time and with the necessary quality.
The ambition is for the project to be implemented ahead of schedule by the end of 2025. The cost of the two contracts signed today is worth BGN 485 million. They will be used to increase the input capacity from Greece to Bulgaria and the output capacity from Bulgaria to Romania. This will enable significant quantities of liquefied natural gas from the US and other producers, as well as from the Southern Gas Corridor.
The first part of the financing will be provided by increasing the capital of "Bulgartransgaz" by "Bulgarian Energy Holding".
The implementation of the project is entrusted to "Glavbolgarstroy", which will partner with global giants such as HILL International, Honeywell, Emerson and CRC Evans. The contract was signed by Mrs. Zara Kiziryan-Kalcheva, Representative of DZZD “Hill International" – GBS 1" and DZZD “Hill International – GBS 3" and executive director of "GBS Energy Solutions" EAD. The companies “Hill International – GBS 1“ and “Hill International – GBS 3“ will perform two of the three lots. The main member of the associations is “Glavbolgarstroy“ together with its international partner HILL International. In both lots "Glavbolgarstroy" will partner with the international companies CRC Evans, Emerson, Honeywell and “Ensol VM“.
"From the first day of its establishment, 55 years ago, Glavbolgatsroy has been executing and has never stopped executing gas pipelines. Bulgartransgaz has always been an extremely expertly prepared and very well positioned contractor with whom we have worked and will continue to work wonderfully. Realizing the importance and important geopolitical position of the project we signed today, we have assembled a unique constellation of international American companies that are leaders in what they do. I guarantee you that we will execute this project, which is so important for the region, with absolute quality and in the shortest possible time.“ Kalin Peshov, Chairman of the Board of Directors of “Glavbolgarstroy Holding“.
US Deputy Ambassador to Bulgaria Andria Brulet-Rodriguez welcomed the step towards regional security. "We are proud that you took it on," she pointed out. In her words, the Vertical Gas Corridor is an excellent example of regional cooperation.
Ukraine's Ambassador to Bulgaria Olesya Ilashchuk explained that the purpose of the project is to connect the main gas pipelines for gas transmission from the south to the north. She is confident that this will give access to diversified supplies from LNG terminals as well.