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 December 2016 the second phase of the Market Test was completed with 5 binding offers submitted
On September 12th, 2017, IGB received a construction permit on Bulgarian territory
On June 29th, 2018, ICGB signed key agreements for investments and activities on the 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 December 21st, 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
On April 3rd, 2019, the European Commission officially approved the allocation of EUR 39 million for the construction of the IGB project
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
On July 18th, 2019, the project was granted a license for Independent Natural Gas System, receiving the right to begin construction on Greek territory
At the beginning of October 2019, the national energy regulatory authorities of Greece and Bulgaria came out with a joint decision for approval of a Network code and a Tariff code of the project for Greece-Bulgaria interconnector whereby ICGB came closer to completing the procedure for certification as an independent gas transmission operator
On 10th October 2019 during the official ceremony in the presence of the ministers of energy of the Republic of Bulgaria and the Hellenic Republic the contract for a loan from the European Investment Bank was signed for the amount of EUR 110 million.
During the event on 10th October 2019 binding gas transportation agreements were also signed with the shippers which had booked capacity in the gas pipeline as well as the contracts with the selected contractors for line pipe manufacturing and supply and for construction of the gas pipeline.
The shareholders in the project company, BEH, and IGI Poseidon, laid their signatures on the revised shareholder's agreement whereby the final business plan of the IGB project was adopted as well as the final budget for construction of the gas interconnector.
During the ceremony on 10th October 2019 the Bulgarian and Greek Ministers of Energy signed an Intergovernmental agreement between the two countries whereby firm support is declared for the project and the tax regime of the gas pipeline is stabilized for a period of 25 years.
In December 2019 ICGB renewed its participation in the Memorandum of Understanding on the implementation of the Vertical Gas Corridor with companies from 3 countries
In April 2020 ICGB completed the procedure for selection of a leading insurer for the gas interconnector with Greece
In July 2020 the Bulgarian parliament approved the tax regime of the interconnector for a period of 25 years
In August 2020 ICGB utilized first EUR 30 million under the EIB loan for the realization of the Gas Interconnector Greece-Bulgaria
In October 2021 ICGB has been granted a license for transmission of natural gas for the territory of the Republic of Bulgaria for a period of 35 years
In December 2021 the EIB approved the third financial tranche for the IGB pipeline after a detailed inspection
In January 2022 ICGB signed contracts with the PRISMA Platform and the RBP Platform, through which capacity in the IGB pipeline will be marketed
In February 2022 ICGB has applied for certification as an independent transmission operator
Mobilization for the construction phase of the IGB pipeline began in October 2019 after the signing of the EIB loan agreement and the EPC contract
At the end of 2020 the final batch of line pipes for the IGB project were produced and delivered
In June 2021 the IGB pipeline reached 100 km completed in a major construction milestone
In July 2021 IGB has successfully crossed the Maritsa River
In September 2021 IGB has successfully crossed Studen Kladenets dam in Bulgaria, making history as one of the top 5 longest installations of that diameter in the EU.
In November 2021 testing of the infrastructure along the route of the IGB pipeline began
In January 2022 hydrotests along the IGB route began
In March 2022 all valves for the block valves planned in the IGB project were delivered after a significant delay due to global supply chain issues
On March 25th 2022 the interconnector Greece-Bulgaria was successfully connected to the Trans Adriatic Pipeline
By the beginning of April 2022, the entire linear part of the IGB pipeline was successfully completed
In mid-April 2022 the entire length of the IGB pipeline and all 8 block valves were successfully hydrotested
In mid-May 2022 testing of the Gas Metering Station near Stara Zagora was successfully completed
Gas Interconnector Greece-Bulgaria is co-financed by the European Union's
European Energy Programme for Recovery programme.
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