On February 01 2023. near the town of Kostinbrod in the Republic of Bulgaria, a ceremony was held to mark the beginning of works on the construction of the Bulgaria-Serbia gas interconnector IBS.

From the Serbian side, the event was attended by President of the Republic of Serbia, A. Vučić, Minister of Mining and Energy of the Republic of Serbia, D. Đedović, General Director of JP "Srbijagas", D. Bajatović, Executive Directors of "Srbijagas", J. Budimir and M. Zdravković, and members of the delegation, and the Bulgarian was represented by the President of the Republic of Bulgaria, R. Radev, Minister of Energy of the Bulgaria, R. Hristov, executive directors of "Bulgartransgaz" and "Glavbolgarstroy" Vladimir Malinov and Kalin Peshov, head of the Department for financing energy projects and renewable energy sources within the Instrument for Connecting Europe in CINEA, B. Coda and members of the delegation. The event was also attended by Ambassador Z. Jović, as well as the employees of the Embassy of the Republic of Serbia in Sofia.

The President of the Republic of Serbia A. Vučić stated that by building a this gas interconnector, Serbia will significantly diversify gas sources and that the Republic of Serbia will be able to import more liquefied natural gas, which will bring greater energy security for citizens and a chance for new investments. President Vučić added that this is an important European project, because it gives the possibility to supply other countries in the Western Balkans through the Republic of Serbia, as Bulgaria has done so far with Serbia.

President of the Republic of Bulgaria, Rumen Radev said that Bulgaria proved to be a reliable transit country and that even in the worst situation, when it ran out of Russian gas, it continued to export fuel to Serbia without any difficulties. According to him, the gas interconnector is not only an infrastructure project, but also a symbol of the potential of the entire region for the future.

President Vučić held a meeting with President Radev where they discussed other projects that are planned, and he expressed his gratitude for the effort to build a better future and the best possible relations together.

The gas interconnection between Serbia and Bulgaria will, as announced, be ready for operational work in the middle of this year.