Nine non-binding Expressions of Interest were received by ICGB AD – the company in charge of realizing the Gas Interconnector Greece-Bulgaria (IGB). A total aggregate capacity of 4.3 bcm/y was requested for gas transportation services in firm forward mode from Greece to Bulgaria and approximately 1 bcm/y was requested for gas transportation services in firm reverse mode from Bulgaria to Greece during the Expressions of Interest Phase., for .
The ICGB AD Company, being in charge of realizing the Gas Interconnector Greece-Bulgaria – IGB, announces the completion of the Expression of Interest (EoI) Phase of the Market Test, which is conducted for the purpose of booking capacity in the pipeline.
The deadline of the Expression of Interest Phase expired on April 8th 2016, in accordance with previous deadline extensions approved by the National Regulatory Authorities of Bulgaria and Greece, EWRC and RAE respectively.
The EoI Phase was launched on December the 14th 2015. The EoI Phase has been conducted on the basis of Guidelines and EoI Notice jointly issued by EWRC and RAE, pursuant to Paragraph 6 of article 36 of Directive 2009/73/EC .
“The satisfactory outcome of the EoI Phase is a successful step for ICGB and the development of the IGB Project as part of the envisaged evolution of the Bulgarian, South East and Central European gas markets towards alternative sources and routes of gas supply ensured through the provision of gas transportation services in a vertical direction from the Southern Gas Corridor. The availability of IGB’s capacity will furthermore provide a reliable route for LNG imports into the region through the existing and planned LNG re-gasification capacities in Greece”, Teodora Georgieva and Konstantinos Karayannakos, Executive Officers of ICGB AD, commented.
The Market Test will enter into a 2nd binding Bidding Phase further to instruction and approval of the National Regulatory Authorities of Bulgaria and Greece. The Bidding Phase will provide a process to confirm what will be the actual level of booked capacity on a contractual basis.
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*** The IGB Project (Gas Interconnector Greece-Bulgaria) is being implemented by the joint venture company ICGB AD, registered in Bulgaria in 2011, with shareholders BEH EAD (50%) and IGI Poseidon (50%). The co-shareholder IGI Poseidon is a company, registered in Greece, with shareholders being the Greek public gas corporation DEPA SA (50%) and the Italian energy group Edison SpA (50%).
In accordance with its Statute, ICGB AD will be the owner of the IGB gas pipeline and will finance its realization, will allocate its capacity and will receive the revenue from the transportation of natural gas.
The IGB gas pipeline will be connected with the Greek national gas transmission system in the area of Komotini and with the Bulgarian national gas transmission system in the area of Stara Zagora. The planned length of the pipeline is 182 km, the pipeline diameter will be 32” and the projected capacity will be up to 3 bcm/y in the direction from Greece to Bulgaria. Depending on the interest from the market and the capacities of the neighbouring gas transmission systems, the pipeline technical capacity could be increased to 5 bcm/y with the additional installation of a compressor station and with the capability of reverse flow (from Bulgaria to Greece). A Memorandum for cooperation between ICGB AD and TAP AG has been signed concerning joint actions in relation to future connection between the IGB pipeline and the Trans-Adriatic Pipeline.