Greece and Bulgaria want to resume a pipeline project to transport crude oil from the Greek port of Alexandroupolis on the Aegean Sea to the Bulgarian port of Burgas on the Black Sea, Greek Prime Minister Kyriakos Mitsotakis said on Thursday, Reuters reported.

Bulgaria wants to build a 300-kilometer trans-Balkan pipeline to provide non-Russian crude for its only Black Sea refinery.

We are talking about the largest mega-oil refinery in the Balkans, Lukoil, in Burgas, for which Bulgaria obtained an exemption from the EU embargo on the import of oil by sea from Russia, where only Russian crude oil of the Ural grade is processed. Last month, Bulgarian parliamentarians voted in favor of a law that would allow the state to take control of an oil refinery owned by Russia’s Lukoil if necessary.

After meeting Bulgarian President Rumen Radev in Athens, Mitsotakis said the pipeline would provide Bulgaria with alternative sources of supply and a “safer, faster and cheaper” way to transport crude oil.

“The Alexandroupolis-Burgas pipeline is of strategic importance for our country, as it will provide an opportunity for real diversification and supplies of non-Russian oil to our Burgas refinery,” said Radev.

After Moscow cut off gas supplies to Bulgaria following the war in Ukraine, Greece offered gas through its only LNG terminal at Revitus, west of Athens.

Expanding cooperation, Greece and Bulgaria have also agreed that Greek energy producers will be able to store gas in Bulgaria and Bulgarian companies can use Revithoussa, Mitsotakis said.

“Both countries will have guaranteed access to infrastructure that is critical to their energy security,” he said.

(article photo: DreamsTime.com)