World Bulletin / News Desk
The line will link the ports of Kavala and Alexandroupoli in northern Greece on the Aegean Sea with Bulgaria's Burgas, Varna and Port Ruse on the Danube River.
According to Bulgarian media the Bulgarian section will cost roughly €1 billion ($1.2 billion) and the Greek part about €4 billion ($4.7 billion). No timescale for the completion of the project was given.
Greek Prime Minister Alexis Tsipras and his Bulgarian counterpart Boyko Borisov spoke at a news conference in Kavala after the signing a memorandum of understanding.
"With the Bulgarian prime minister, we are in a common line to capitalize on the potential of the two countries,” the Greek premier said, adding that the energy sector is opening new horizons in Europe with the implementation of the IGB pipeline.
The Gas Interconnector Greece-Bulgaria will link the natural-gas systems of both states, with an entry point in Komotini, Greece and exiting in the city of Stara Zagora, Bulgaria.
The European Commission is expected to decide early in 2018 if it will grant €51 million ($60.8 million) in additional funding. Both Greece and Bulgaria have requested extra resources to complete the gas project.
Army uses live ammunition, rubber bullets to disperse stone-throwing Palestinians in West Bank, Gaza
"Deal of the Century" refers to a back-channel U.S. plan to settle the Palestine-Israel dispute
Interior Minister Alfonso Navarrete and Alejandro Murat, governor of the state of Oaxaca, were on their way to survey the scene of the destruction left by the 7.2 magnitude earthquake when the accident occurred, the interior ministry tweeted.
The arrival of Trump and his wife Melania came at the end of a difficult day for the families of those killed in Wednesday's rampage at a high school in Parkland, Florida, who learned that the carnage could perhaps have been averted.
Trump to consider report suggesting high tariffs or quotas on steel and aluminum imports
Tanks to be integrated into Iraqi armed forces 'within days', Defense Ministry source says.
Army uses teargas and live ammunition to disperse stone-throwing Palestinians in West Bank city of Nablus
Jens Stoltenberg speaks about recent events near the Kardak islets in Aegean Sea between Turkey and Greece
Israeli authorities arrested resistance icon last summer for allegedly 'inciting violence'
After snap election last month in Turkish Republic of Northern Cyprus, 4 parties form new coalition government
Rex Tillerson also plans to meet Lebanese PM and parliament speaker before wrapping up regional tour in Turkey
UN envoys of Washington and Moscow blamed each other for atrocities in Syria
Communities suffering from high suicide rates among youth, unsafe drinking water
Police identify 19-year-old former high school student Nikolaus Cruz as suspected shooter