The development, financing and construction of the IGB pipeline is under the responsibility of the joint venture company ICGB AD, which will be the owner of the pipeline.
ICGB AD was incorporated in January 2011 by BULGARIAN ENERGY HOLDING EAD and IGI POSEIDON S.A. under the Bulgarian Law, with each shareholder owning 50%.
Considering the present status of permitting procedures, regulatory, commercial and financing activities being implemented in accordance with EU, Greek and Bulgarian law, and with the participation of a number of third parties, the Shareholders target:
- Completion of design phase: 2015
- Detailed design and construction: 2016 - 2018
- Commercial operation: 2018