Balkan gas hub discussed

On the sidelines of the EU-League of Arab States Summit, Bulgarian PM Boyko Borissov and Saudi Arabia's Foreign Minister Ibrahim bin Abd al-Aziz al-Assaf discussed on 25 February the opportunities for an investment by Riyadh in the Balkan gas hub project.

Borissov stressed the importance of this project for Southeast Europe's energy security. “Thus far, a feasibility study for this gas distribution centre has been conducted that considers several sources of natural gas supplies: from Russia, from the Caspian Region through the intersystem connection with Greece, from Romania, as well as from the Black Sea through potential local extraction where exploration is currently being conducted,” Borissov explained. He recalled that last week the Council of Ministers approved the establishment of a joint company between the Ministry of Agriculture, Food and Forestry, and the Saudi Agricultural and Livestock Investment Company (SALIC). This will strengthen the business contacts and negotiations between companies from Bulgaria and Saudi Arabia, Borissov added. Ibrahim bin Abd al-Aziz al-Assaf praised the forthcoming opening of a Bulgarian Embassy in Riyadh, and Borissov noted that this would further strengthen the bilateral ties.

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