Greece, Bulgaria, Romania, Hungary Agree to Nat Gas Vertical Corridor
Gas systems operators from Greece, Bulgaria, Romania and Hungary have signed a memorandum of understanding to cooperate on the realization of the Vertical Corridor, which will enable the bi-directional flow of natural gas from north to south and south to north.
The memorandum was signed by DESFA (Greece), Bulgartransgaz (Bulgaria), Transgaz(Romania), FGSZ (Hungary), ICGB (Bulgaria), and Gastrade (Greece) in the context of the 22nd World LNG Summit in Athens, reported news portal Offshore-energy.biz.
By signing the MoU, the companies affirmed their commitment, jointly and individually, to developing the necessary projects for implementing the Vertical Corridor.
The memorandum will be valid for three years with the possibility of an extension for another year.
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