EC Backs Bulgartransgaz’s Chiren Upgrade for a Stronger European Energy Framework 

€16 million investment for the expansion of Bulgaria's Chiren gas storage has been approved.


Bulgartransgaz is gearing up for a significant enhancement of Chiren, Bulgaria’s lone natural gas storage facility. Recognizing this ambition, the European Commission (EC) has sanctioned a financial boost of 16 million euros, in line with EU state aid rules. Chiren’s current capacity stands at 550 million m³. With the EC’s backing, this is expected to rocket to an impressive 1 billion m³. Beyond mere expansion, Bulgartransgaz aims to refine the gas distribution process for optimal performance. To fund this expansion, a 9-year public guarantee has been arranged on a 16 million euros loan. The project is not just about size; its core objectives revolve around securing gas supply continuity, intensifying gas sector competition, catalyzing regional gas trade, and integrating the storage seamlessly with the broader energy grid. It’s worth noting that Chiren’s upgrade isn’t an isolated venture. It’s a fragment of the broader European Project of General Interest, which aspires to fortify the European energy framework and meet the EU’s environmental aspirations. 

Source: novinite.com

Jakub Warzecha

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