Page 145 - bne IntelliNews SE Outlook Regions 2024

MPs. The country has a golden share in the refinery allowing it to block sale if it does not approve the buyer.
Meanwhile, the pro-Western government of Prime Minister Nikolai Denkov was forced to back off from a plan to impose additional fees on transit of Russian natural gas, after being threatened by Hungary that it would block the country’s entry to Schengen.
In an effort to secure energy independence, Bulgarian gas transmission operator Bulgartransgaz is considering investing in a second LNG terminal in Greece. Bulgartransgaz already participates with a 20% stake in the construction of the LNG terminal at Alexandroupolis, which should be put into operation at the beginning of 2024.
Bulgartransgaz also decided to revive a project for a vertical natural gas corridor. The corridor was initially planned to transport gas from Greece’s Revithoussa LNG Terminal and the Trans Adriatic Pipeline (TAP), which will bring Azerbaijani gas into Europe. Plans for its construction date from a decade ago but the project was not moved forward.
By the end of 2024, the company should also double the capacity of the Chiren storage from 550mn to 1bn cubic metres, enhancing gas withdrawal and injection capabilities.
At the same time, the government in Sofia is trying to boost transition to green energy. In mid-December, it signed a memorandum of understanding (MoU) with Schneider Electric Bulgaria, which produces and implements electrical equipment, to invest BGN107mn (€54.7mn) in the construction of a new smart manufacturing centre in the country, which will incorporate renewable energy sources and will expand the company’s existing capacity near the city of Plovdiv.
The manufacturing centre will be the first of its kind in Central and Eastern Europe and will create at least 105 new jobs.
Also in December, Schneider Electric Bulgaria, part of French energy management and automation corporation Schneider Electric, launched a €1.8mn geothermal heating and cooling system at the recently expanded smart factory in the Trakia Economic Zone near Plovdiv.
In mid-December, Bulgaria’s parliament gave a green light to another major energy project for the country – the construction of two new units at the Kozloduy nuclear power plant (NPP). The government in Sofia hopes they would cost up to 12bn and will become operational by 2035.
Units 7 and 8 that will have a combined capacity of 2,300 MW. The country intends to use the US AP1000 technology and has already signed an agreement with US Westinghouse Electric for the reactors. Westinghouse will supply the fuel for the new reactor from its plant in Sweden.
Three potential companies to carry out the construction works: Bechtel Corporation, Fluor and Hyundai. One of them will be granted a contract
145 SE Outlook 2024 www.intellinews.com