ICGB signs MoU on implementation of Vertical Gas Corridor

Representatives of ICGB AD (Bulgaria), Bulgartransgaz EAD (Bulgaria), DESFA S.A. (Greece), Gastrade S.A. (Greece), FGSZ LTD (Hungary), and SNTGN TRANSGAZ S.A. (Romania) signed the renewal of the Memorandum of Understanding (MoU) on the implementation of the Vertical Gas Corridor.

The event took place in Athens, Greece, Qazet.az informs, citing the ICGB. 

The adopted document aims at cooperation between the companies regarding the realization of the Vertical Gas Corridor, which will connect the networks of Bulgaria, Greece, Romania, and Hungary and allow natural gas transportation. 

The improved connectivity of the transmission systems of the neighboring countries is in sync with the joint European priorities in the energy sector – increasing energy security in the region, market integration through diversification of routes and sources of natural gas, as well as increasing competition.