The leaders of Greece and Bulgaria signed a deal on Monday in Athens that will allow Bulgaria to participate in a planned liquefied natural gas terminal at the port of Alexandroupolis in northeastern Greece.
The project, which has strong support from the United States, is aimed at boosting energy diversification in southeastern Europe, a region largely reliant on Russian natural gas.
Greek Prime Minister Kyriakos Mitsotakis said that with the signing of the agreement, “this large investment is set in motion with the ultimate goal of turning our easternmost port into a global energy hub.
“The port of Alexandroupolis is celebrating its 150th anniversary this year. It is becoming a hub of cooperation, a source of wealth and prosperity for the countries and for the peoples,” Mitsotakis added.
The Greek leader said that the project that the gas will be distributed to Greece, Bulgaria and the whole of southeastern and central Europe by the end of 2022 or the beginning of 2023.
“The benefits are also geopolitical: A new axis of diversification of natural gas routes is being created not only for Bulgaria but also for central Europe which will no longer have a single source of energy.”
On his part, Borisov said that both Greece and Bulgaria have become main hubs and are now playing a key role in energy and its distribution.
“We have reached a solution that satisfies all sides, both the investors and the partners. So we will be supplied with natural gas from every part of the world. All these flows will be feasible through the investment in this project,” he added.