Bulgaria, Bulgartransgaz passed financial audit of its gas transmission network expansion project

, SEE Energy News

Bulgarian natural gas transmission system operator Bulgartransgaz said that, in cooperation with the European Climate, Infrastructure and Environment Executive Agency (CINEA), it has completed the financial audit procedure of the second phase of a project for the rehabilitation, modernization and expansion of the Bulgarian transmission system.

The project is of common interest to the European Union and was implemented with grant funding. The funded activities cover the rehabilitation of two sections of the Northern Ring of the Bulgarian gas transmission network.

The audit covers expenditure incurred from the start of the grant agreement implementation (8 January 2019) until the end of the second reporting period (31 December 2020). The audit included a review of Bulgartransgaz’ accounting and project management systems and related documentation. Compliance with applicable EU and Bulgarian legislation was confirmed for the audited procurement related to the project implementation. The full amount of costs claimed by the company for reimbursement was also confirmed.

Recommendations and instructions on the reporting of project activities and expenditures have been received and will be applied in the final reporting of the audited project as well as in relation to the other CINEA funded projects that Bulgartransgaz is implementing, i.e. the expansion of the Chiren gas storage facility and the Bulgaria- Serbia gas interconnector.

The EU grant funding and the cooperation between Bulgartransgaz and CINEA contribute to the efficient and timely implementation of projects of common interest to the EU. The projects, implemented by the Bulgarian gas transmission operator in cooperation with the EU, ensure energy security and diversification of gas supplies for Bulgaria and the region, the announcement said.

In June, Bulgartransgaz said that it had signed a grant agreement CINEA to finance the expansion of the Chiren underground gas storage facility.