Wed, 22 May 2019

J&P AVAX Files Lowest Bid to Build Bulgaria-Greece Gas Link

Novinite.com
24 Apr 2019, 18:12 GMT+10

Greece's J&P AVAX filed the lowest offer in a tender to design and build a gas pipeline between Bulgaria and Greece, project manager ICGB said on Tuesday, reports .

The company offered a price of 144.85 million euros ($163 million) to build a 182 km (113 mile) pipeline which Sofia hopes will become operational in 2020 to transport Azeri gas to Bulgaria and end its almost complete dependence on Russian gas supplies.

A consortium of two Bulgarian companies and Italy's Bonatti submitted an offer of 229.3 million euros in the tender.

ICGB said it would examine the offers and pick a winner by the end of May. The pipeline will have an annual capacity of 3 billion cubic metres.

The European Commission has said it would invest 33 million euros of European Union funds in the project.

ICGB is 50 percent owned by Bulgaria's state-held BEH energy holding company. The remaining shares are held by the Greek gas company DEPA and Italy's Edison.

Copyright (c) Novinite.com. Published with permission via Big News Network news agency

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