According to latest media reports, the governments of Serbia and Bulgaria have agreed on the formulation of a new memorandum for the task of building a gas pipeline between the two countries, during a recent meeting of the group for gas connections in Central and South East Europe that was held in Budapest.

The Serbian Ministry of Mining and Energy has confirmed that the signing of the Memorandum should follow soon, with an integral part of it being the timetable of activities encompassed by the gas interconnector construction. The preconditions for this connection have been created in the previous couple of years by the Serbian Ministry of Mining and Energy and Srbijagas since it has been defined as one of the six priority projects for the EU and the SEE region.

Finally, it has been reported that the financing for the Serbian part of the project is to be provided by the Instrument for Pre-Accession Assistance (IPA) 2017 funds.