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The independent transmission system operator ICGB finalized with success the yearly auctions for the available capacity of the IGB pipeline for the next gas year 2023-2024. Over 70% of the offered capacity was booked and the remaining quantity will be available in quarterly, monthly, and daily auctions.

The process is split into two main phases and is conducted in alignment with adjacent transmission system operators. The independent transmission system operator ICGB, responsible for the management and commercial operations of the IGB gas pipeline, is initiating the mandatory process for assessing market demand for incremental capacity under Regulation (EU) 2017/459 (NC CAM). The process is split into two main phases – non-binding and binding phase and in general has a duration of two years. It will be implemented in close cooperation with adjacent transmission system operators (TSOs) Bulgartransgaz (Bulgaria), DESFA (Greece), and the Trans-Adriatic Pipeline (TAP). It will explore whether there are grounds to increase the existing technical capacity of the Greece-Bulgaria interconnector.

The independent transmission operator ICGB received approval for the final payment from the grant funding for the implementation of the Greece-Bulgaria interconnector, provided under the Operational Programme "Innovation and Competitiveness" (OPIC). The total funding allocated under OPIC amounts to €39 million. It is disbursed to the pipeline operator in tranches, following thorough inspections at each stage to ensure quality and successful completion of works. This creates an additional level of control and assurance that all implementation and project management activities are carried out in line with the highest industry standards.

Over 10.4 million Mwh have been transported through the Greece-Bulgaria gas interconnector since the launch of the pipeline on October 1, 2022. The amount equals to 892 million cubic meters and covers the period from the beginning of October to the end of April. As of the end of April, IGB has a total of 16 registered users.

Based on Joint Decision of the Energy and Water Regulatory Commission of the Republic of Bulgaria (EWRC) and Regulatory Authority for Energy of the Republic of Greece (RAE) from March 2023 (hereinafter the Decision) on implementing Art. 14, paragraph 7, “a” of the Council Regulation (EU) 2022/2576 of 19 December 2022 enhancing solidarity through better coordination of gas purchases, reliable price benchmarks and exchanges of gas across borders (hereinafter the Regulation) the gas transmission system operator ICGB AD applies a firm day ahead use-it or lose-it  (FDA UIOLI) mechanism at Interconnection Points in accordance with Commission Regulation (EU) 2017/459 of March 16, 2017, and in consideration of point 2.2.3 of Annex I of Regulation (EC) No. 715/2009.

3.08 million megawatt hours were transported through the Greece-Bulgaria gas interconnector for the period January 1 - February 28, 2023. Since the gas pipeline was put into commercial operation on October 1, 2022, a total of 7.9 million megawatt hours have been transported through it. As of the end of February, IGB has a total of 15 registered users.

The Liquidated Damages due to the delay in the IGB construction have been recognized and will be deducted from indexation payments of part of the construction and installation activities of the project due to the rise in inflation.

Since December, the capacity of the Greece-Bulgaria interconnector has been almost completely filled, reaching over 94% just months after the start of commercial operation

Representatives of ICGB AD (Bulgaria), Bulgartransgaz EAD (Bulgaria), DESFA S.A. (Greece), Gastrade S.A. (Greece), FGSZ LTD (Hungary), and SNTGN TRANSGAZ S.A. (Romania) signed the renewal of the Memorandum of Understanding on the implementation of the Vertical Gas Corridor. The event took place in Athens, Greece.

The finishing works on the gas interconnector Greece - Bulgaria is in the implementation process. ICGB expects them to be realized within the timeline declared by the EPC contractor and in accordance with all the requirements of the technical project.