The 1.8-billion cu m/year (bcmy) Interconnector Bulgaria-Serbia (IBS) natural gas pipeline has been completed. The pipeline will reduce the proportion of Russian gas Serbia consumes, replacing it with supplies from Azerbaijan and Gastrade AE’s 5.5-bcmy LNG terminal in Alexandroupolis, Greece.
Serbia will purchase 0.4 bcmy from Azerbaijan starting in 2024. Azerbaijan exported 8 bcmy to Europe in 2021 and is targeting sales of 20 bcmy there by 2027. The country expects 2023 European exports to be near 12 bcmy.
Construction of the 170-km reversible pipeline began earlier this year, at which point Serbia received roughly 80% of its gas from Russia (OGJ Online, Feb. 6, 2023). At full capacity IBS could meet about 60% of Serbia’s demand.
Chris brings 32 years of experience in a variety of oil and gas industry analysis and reporting roles to his work as Editor-in-Chief, specializing for the last 20 of them in the midstream and transportation sectors.
