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    Reference: 20170205
    Release date: 3 December 2018

    Promoter – Financial Intermediary




    The project consists of the construction of the Serbian section of a gas interconnector between Serbia and Bulgaria to allow for the transfer of between 1 and 1.8 billion cubic metres of natural gas annually from Bulgaria to Serbia and 0.15 billion cubic meters from Serbia to Bulgaria. The project will contribute to diversification of supply routes and potential supply sources of natural gas to South-East European region.


    The project aims to provide diversification of gas supply routes and sources to the Serbian and South East Europe gas market and to improve market integration and security of supply to both Serbia and Bulgaria.


    • Energy - Electricity, gas, steam and air conditioning supply

    Under ELM Guarantee

    This operation is covered by the ELM Guarantee.

    Proposed EIB finance (Approximate amount)

    EUR 25 million

    Total cost (Approximate amount)

    EUR 86 million

    Environmental aspects

    The Bulgaria-Serbia gas interconnector project is part of the "Energy Sector Development Strategy of the Republic of Serbia", which went through a Strategic Environmental Assessment process. At the feasibility stage an international consultant performed an Environmental and Social Impact Assessment (ESIA) of the project. The environmental permitting process is still ongoing with plans to be completed by the end of 2018. The pipeline route is proposed outside populated areas and in a way to avoid environmentally sensitive areas to the extent possible. It passes through largely agricultural land and forested areas. Impacts that can be typically expected are mainly temporary and relate to construction works. These impacts can usually be well managed by appropriate measures taken by the construction company in order to avoid unacceptable nuisance to other parties and the public. An assessment of the environmental procedures and capabilities of the Promoter, the potential environmental and social impacts of the Project along with checking alignment with the relevant EU Directives will be carried out during the appraisal.


    The Bank will require the promoter to ensure that any procurement procedures are done in accordance with the Bank's Guide to Procurement and the relevant applicable EU public procurement rules.


    Signed - 20/05/2021


    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Serbia Energy