ICGB AD

Co-financed by the Europen Union, Europen Energy Programme for Recovery European Regional Development Fund Operational Program Innovation and Competitiveness

A Statement by the Project Company ICGB AD

Regarding information in the media about a signal received by the Ministry of Interior of the Republic of Bulgaria about the construction of the Gas Interconnector Greece-Bulgaria and initiation of an inspection, the project company ICGB AD states the following:

ICGB AD will provide full assistance to the relevant authorities in the inspection and will provide in a timely manner any requested information and documentation on  the IGB project execution. The project company management is performed in line with the Bulgarian and European legislation and meets the highest business management standards.

The construction of the Gas Interconnector with Greece is partially financed by European structures and funds, as well as by a loan from the European Investment Bank, which imposes an additional control mechanism. The above ensures that all activities and procedures of the project execution are performed in line with all legal requirements. IGB is subject to regular inspections and audits by independent international institutions, on the results of which depends the utilization of disbursed funds. The legality of all actions of the project company and the main contractors is directly related to the progress of the project. Without positive results with constant monitoring, IGB would not be possible at all.

Speculations on the topic of committed violations only aim to damage the reputation of the project and lead to its blockage shortly before it is completed and put into operation. As construction is nearing completion, attacks on the project are becoming more frequent, despite the definite progress. ICGB AD states that such attempts shall fail to stop the progress of the project.

ICGB AD reserves the right to take legal action against insinuations and allegations that do not correspond to the truth.


Date 18/06/2021