Policy & Regulation

Brussels OKs national support for IGB pipeline

The European Commission has approved state funding for the Interconnector Greece-Bulgaria pipeline.
By Staff reporter 8 November 2018 Europe & Russia / Policy & Regulation 0 33218

The European Commission has found that national support for building the 3 billion cubic metre per year Interconnector Greece-Bulgaria (IGB) pipeline is in line with EU state aid rules, the commission said on Thursday.

The approved state aid includes an unconditional guarantee to be granted by Bulgaria to project partner BEH to cover the €110 million ($125.5 million) loan the company will receive from the European Investment Bank.

Moreover, Bulgaria will grant €39 million in a direct financial contribution. There will also be a...