Ooni Koda
  1. Home
  2. /
  3. Newsfeed
  4. /
  5. PM Petkov: the gas interconnector between Bulgaria and...

PM Petkov: the gas interconnector between Bulgaria and Greece to be finished by June 30

May 26, 2022

 Prime Minister Nicolae Ciuca declared on Friday that his Bulgarian counterpart, Kiril Petkov, specified that until June 30 the gas interconnector between Bulgaria and Greece will be finished, from a technical standpoint."Both PM Kiril Petkov, as well as PM Kyriakos Mitsotakis confirmed their shared interest that the gas interconnector between Bulgaria and Greece to be finished on time. PM Petkov mentioned that until June 30 he has the certainty that this will be finished, from a technical standpoint. A period of testing and verification will follow, and most likely, this fall, we will have gas on this interconnector," Ciuca said, during a joint conference with the Bulgarian counterpart and the European commissioner for Transport, Adina Valean, which took place at Victoria Palace.He specified that this interconnector will have a capacity of approximately 1.5 billion cubic meters."It is important through both quantity, as well as for the possibility of ensuring the traffic of gas from both South-to-North, as well as from North-to-South," Ciuca explained.The Romanian PM said that the interruption of gas supply from Russia is a problem that affects not only Romania and Bulgaria, but other countries in the region and in Europe."A reason why we must subscribe our national actions in the overall measures that EU is about to take. It was already established that on May 5 there will be a regional meeting of the Ministers of Energy. For this reunion there will be ministers that will take part from countries that have the potential to supply with gas, this is about Azerbaijan and Turkey, and we hope that based on the talks that will take place during this regional reunion, conclusions to be reached and decisions in the regional plan, which will also be in the EU's benefit as well. Basically, it is intended to be a pilot project for identifying solutions, where after, based on the results of this reunion, to be able to have a clear set of decisions," Ciuca showed."What we realized is the fact that we have an infrastructure that until now we were not able to use fully, we did not fully optimize it. This is about the pipeline that brought gas through Romania, Bulgaria towards Turkey. Now we can work in reverse and the possibility of buying liquified gas together is a huge opportunity, because the price levels will also be different if we buy together. On top of this, our partners from Azerbaijan are also a possible source for additional gas," Kiril Petkov highlighted.    

Read in full - click here
Interest for Romanian retail bonds rises but shifts towards foreign currency

The Romanian retail investors placed RON 537 million in local currency and EUR 223 million (over RON 1.1 billion) in euros under the June 2025 issue of the Government’s bond scheme Fidelis, resulting in a total of approximately RON 1.65 billion, according to data aggregated by Ziarul Financiar.  ...

Draft bill in Romania aims to set minimum age for social media at 16

A new draft law in the Romanian Senate seeks to set 16 as the minimum threshold to have a social media account. Access for children below that age will be allowed only with parental consent and a rigorous security filter.  The initiative aims to curtail the time that children spend online and the harmful influences […]

Romania’s Orchid to install 276 MW of wind turbines in Romania and Austria

Orchid, a Romanian company based in Constanța controlled by the Romanian-Swedish family Muntmark, has secured contracts to install wind turbines with a combined capacity of 276 MW in Romania and Austria, Economica reported on June 16. ...

Romanian optical retailer Lensa attracts new strategic and financial investors

Romanian eyewear retailer Lensa has announced new shareholders, including international group OH Holding Limited and ATM Ventures, part of the Autonom group, Ziarul Financiar and

Romanian entrepreneur to build EUR 5 mln air filters factory with EU funds

The Romanian air filter and protective mask manufacturer Filtre Aer Curat (Eversted brand), owned by the Ene family in Prahova county,  has won a EUR 3 million European grant to develop a new EUR 5 million factory, according to Ziarul Financiar.  The production unit is expected to be ready...

ING Romania warns fiscal consolidation will weigh on fragile growth and inflation outlook

The planned fiscal consolidation measures in Romania are likely to weigh heavily on already sub-optimal economic growth, ING Bank Romania economists Valentin Tătaru and Ștefan Posea warned in an analysis cited by CursDeGuvernare...