The Council of Ministers approved the position of Bulgaria for negotiation and preparation of an Intergovernmental Agreement between the Republic of Bulgaria and the Hellenic Republic on the tax treatment of the Greece - Bulgaria Gas Interconnector (IGB Project)

The Council of Ministers approved today the position of the Republic of Bulgaria according to which the Minister of Energy, coordinated with the competent authorities of Bulgaria, will hold negotiations with the Government of the Hellenic Republic for the preparation and signing of an Intergovernmental Agreement between the Republic of Bulgaria and the Hellenic Republic on the tax treatment of Gas Interconnector Greece - Bulgaria "(Project IGB).

The signing of an Intergovernmental Agreement between the Republic of Bulgaria and the Hellenic Republic regarding the tax treatment of the project for the Gas Interconnection between Greece and Bulgaria is an important element in the implementation of the project. For effective negotiations between the two countries, the Council of Ministers today approved the basic terms of the future agreement as a position of the Bulgarian state in order to prepare, coordinate and finalize the future Intergovernmental Agreement.

The Project Gas Interconnector Greece-Bulgaria (IGB) is key for Bulgaria and the region and has the constant political support of both Governments, as well as of the European Commission. The project is declared an object of national importance and a “national object" according to decisions of the Council of Ministers of the Republic of Bulgaria, as well as under the legislation of the Hellenic Republic. The IGB project has the status of a Project of Common Interest for the EU and is a major priority project under the CESEC Gas Interconnection Initiative in Central and Southern Europe.

Bulgaria's adopted position on the future Intergovernmental Agreement between the two countries will be presented by the Minister of Energy to the upcoming CESEC Member States' High Level Meeting on Interconnection Gas Connectivity in Central and Southern Europe as a key milestone in the progress of the project and a condition for starting its realization.

For more information:
Vladislava Tsekova
ICGB AD
Tel.: +359 2 926 38 62
Mobile: + 359 88 653 99 09

Date 12/09/2018