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Bulgartransgaz Passes Financial Audit of Project for Gas Transmission Network Expansion

Bulgartransgaz EAD and the European Climate, Infrastructure and Environment Executive Agency (CINEA) have completed the financial audit procedure of the second phase of a project for the rehabilitation, modernisation and expansion of the Bulgarian transmission system, the company said here on Saturday, 
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 EAD’s 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 EAD is implementing, i.e. the extension of the Chiren gas storage facility and the Bulgaria-Serbia 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, the company said that it had signed a grant agreement CINEA  to finance the expansion of the Chiren underground gas storage facility.