IGB Gas Pipeline Market Test
5 August 2016
ICGB Market Test: 2nd Bidding Phase Launch
ICGB AD, project company developing the Gas Interconnector Greece-Bulgaria (IGB), equally controlled by IGI Poseidon SA of Greece and Bulgarian Energy Holding EAD of Bulgaria, announces the launch of the 2nd Bidding Phase of the IGB Market Test through the publication of the relevant Bidding Phase Guidelines.
The Market Test is conducted in two phases: the Expression of Interest Phase that was concluded by April 8th 2016 and the Bidding Phase that starts today.
The Bidding Phase Guidelines have been approved by the relevant National Regulatory Authorities, namely EWRC of Bulgaria with Decision No.У-3 of 21 July 2016 and RAE of Greece with Decision No. 255/2016 of 28 July 2016 .
The Expression of Interest Participants and TSOs will be directly informed, provided with the relevant documents and invited to participate in the Bidding Phase in accordance with art. 3 of the Bidding Phase Guidelines.
27 April 2016
Nine non-binding Expressions of Interest received by ICGB AD – the company in charge of realizing the Gas Interconnector Greece-Bulgaria
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.
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.
31 March 2016
Important Note: The deadline by which Expressions of Interest in the IGB Market Test should be submitted to be considered valid is hereby extended from 31 March 2016 to 8 April 2016.
The extension of the Expressions of Interest deadline is made following a relative consultation and coordination with the Energy and Water Regulatory Commission (Bulgaria) and the Regulatory Authority for Energy (Greece).
With the exception of the Expressions of Interest deadline, all other terms and conditions in the Market Test documentation published hereby remain in force.
14 December 2015
The company ICGB AD (ICGB) is in charge of developing, constructing and operating the Interconnector Greece- Bulgaria gas pipeline (IGB). ICGB has applied to the regulatory authorities of Bulgaria (EWRC) and Greece (RAE) for an exemption from certain provisions of EU Directive 2009/73/EC in accordance with art.36 therein.
ICGB is launching a Market Test procedure as per “Updated Guidelines for management and allocation of capacity on the IGB INTERCONNECTOR according to paragraph 6 of article 36 of Directive 2009/73/EC” (UPDATED GUIDELINES), jointly issued by EWRC and RAE.
All Interested Shippers and TSOs are being invited to express interest in using IGB gas transportation services. The interest of other Transmission System Operators to interconnect their systems with the IGB Pipeline is also being invited. The Market Test is divided into two phases: 1. Expression of Interest Phase (on a non-binding basis); 2. Bidding Phase (on a binding basis).
Participation in the Expression of Interest Phase is a prerequisite for subsequent participation in the Bidding Phase. The Expression of Interest Phase, where interested parties are invited to present non-binding expressions of interest, starts with the publication of the Expression of Interest Notice.
All terms and conditions for participation in the Expression of Interest Phase, and subsequent steps, are contained in the Expression of Interest Notice. The Expression of Interest Phase is being conducted in the English language.