Bulgartransgaz's loan from United Bulgarian Bank for the Vertical Gas Corridor is rising by €25m to a total of €127,258,370, the government press office said. The cabinet agreed today to raise the sum covered by the guarantee agreement for the loan.
Without the higher guarantee, the principal, which is the loan amount itself, and the period for drawing the money cannot be increased. The deadline for drawing the money is extended to 31 December 2026. The long-term loan was granted on 12 September 2025.
The extra money will pay to finish two investment projects on the corridor. One will raise the capacity to carry natural gas from Greece to Bulgaria, where the two networks join at Kulata/Sidirokastro. The other will do the same for gas flowing from Bulgaria to Romania at Negru Voda/Kardam.
The gas transmission operators of Bulgaria, Greece, Romania, Hungary, Slovakia, Ukraine and Moldova take part in the Vertical Gas Corridor. The project aims to make natural gas supplies in South-East and Central Europe more secure and more varied.
Energy minister Iva Petrova said two days ago, in an interview with a Greek business publication, that the corridor strengthens the region and opens new energy routes for South-East Europe. She said capacity for gas transport from Greece to Bulgaria has grown by about 30% this year and is now 93 gigawatt-hours a day.