Milestones

Milestones:

  • In June 2011 the IGB project was declared as a National Project under the meaning of the State Property Act, receiving the support of the Bulgarian Government
  • In November 2013 IGB completed all Environmental Impact Assessment procedures in the territories of Bulgaria and Greece in accordance with applicable national and EU laws
  • On January 6th 2014 a Memorandum of Cooperation and Understanding was signed between ICGB AD and Trans Adriatic Pipeline AG
  • In December 2015 ICGB AD launched the first Market Test for the capacity of the IGB pipeline
  • The final investment decision for the IGB project was signed by the shareholders on December 10th 2015
  • In September 2016 ICGB AD signed a joint statement with Bulgarian, Greek, Romanian and Hungarian transmission operators as future operator and part of the Vertical Gas Corridor
  • In December 2016 the second phase of the Market Test was completed with 5 binding offers submitted
  • On September 12th 2017 IGB received construction permit on Bulgarian territory
  • On June 29th 2018 ICGB signed key agreements for investments and activities on construction of the gas interconnector during the fifth Meeting of CESEC, including a Memorandum of Understanding for securing preferential loan financing in connection with using the state guarantee of Bulgaria
  • On August 8th 2018 the project received a joint exemption decision by the Bulgarian and Greek regulators, reconfirmed by the European Union
  • On November 8th 2018 the European Commission issued a decision on compatible state aid in accordance with the Guidelines on State aid for environmental protection and energy for the period 2014-2020.
  • On December 21, 2018 ICGB AD signed a contract for direct grant awarding EUR 39 million for the IGB project from the Operational Program "Innovation and Competitiveness" 2014-2020
  • On February 7th 2019 IGB was granted an Installation Permit on the territory of the Hellenic Republic
  • In March 2019 ICGB AD successfully completed the procedure for selection of Owner’s engineer for the gas interconnector Greece- Bulgaria
  • On April 3rd 2019 the European Commission officially approved the allocation of EUR 39 million for the construction of the IGB project
  • ICGB AD selected a contractor for construction supervision for the construction of the gas interconnector Greece-Bulgaria on Bulgarian territory on April 24th 2019
  • In May 2019 ICGB AD finalized the public procurement for the line pipes manufacture and supply for construction of the IGB pipeline
  • The project company ICGB successfully completed the public procurement for design, procurement and construction (EPC) of the gas interconnector Greece – Bulgaria on May 14th 2019
  • The Groundbreaking ceremony for the IGB project was held on May 22nd 2019 in the presence of the Prime Minister of Bulgaria and the Prime Minister of Greece
  • On July 18th 2019 the project was granted a license for Independent Natural Gas System, receiving the right to begin construction on Greek territory