Support for the Vertical Gas Corridor
Romania, Bulgaria and Greece have requested the European Union’s support to set up a new corridor for natural gas between the three countries, after Russia’s announcement it is giving up the South Stream pipeline. In a joint statement the three countries said they support the development of a new vertical corridor to connect Greece, Bulgaria and Romania in order to ensure the non-stop bi-directional gas supply. “The three parties call on the European Commission to support their initiative for closer regional cooperation and for promoting the necessary projects to build it in an efficient way,” the three countries announced, aiming at the EU’s ‘financial instruments’. Maros Sefcovic, the EC Vice-president for Energy Union, said the EC is ready to consider using European funds “for better and sounder integration of the energy grid in these countries within the EU global energy framework.” The pipeline to cross over Bulgaria, Greece and Romania (named Vertical Gas Corridor) is to have a capacity of 3-5 million cubic metres per year, the Greek Energy Minister said, according to novinite.com.
By the end of last year, the former delegate minister for energy Razvan Nicolescu has sent to Hungary the invitation to join the initiative. The sources of gas for the Vertical Gas Corridor will be the Greek Revithoussa LNG Terminal and the Trans Adriatic Pipeline AG (TAP), which is to carry Caspian gas.