ICGB signed a joint statement with Bulgarian Greek, Romanian and Hungarian transmission operators as future operator and part of the Vertical Gas Corridor

18 September 2016

ICGB signed a joint statement, together with Bulgarian, Greek, Romanian and Hungarian transmission operators as future operator and part of the Vertical Gas Corridor on high level group meeting of the Central and South-Eastern European Gas Connectivity organized by European Union on 8th and 9th of September 2016 at Budapest. The statement represents the united efforts of the operators to joint development of the gas transmissions networks and the building of the Vertical Gas Corridor. “That is a serious acknowledgement for Interconnector Greece-Bulgaria’s key role for energy security and diversification of sources for Europe and the region as well as a step toward inter-system connectivity”, emphasized Teodora Georgieva and Konstantinos Karayannakos, Executive Officers of ICGB AD.

Prior to signing of the joint statement by transmission operators, Ministers of Energy of Greece, Bulgaria, Romania and Hungary signed a joint statement in maintenance of Vertical Corridor. The signing of a Memorandum for Agreement between operators and ICGB as future operator is about to come.

On the Meeting of the High Level Group, European Commission welcomed the significant progress of the IGB Project as part of the Vertical Corridor namely: a final investment decision taken, progress in obtaining the permits and carrying the binding phase of the market test, as next important step for the development of IGB key project which enjoys strong political support from Bulgaria and Greece.