ICGB is now licensed for natural gas transmission for the territory of Bulgaria
The project company received a license for natural gas transmission for 35 years for the territory of the country, similar permit for the territory of Greece is expected to be approved for a period of 50 years
ICGB AD has been granted a license for transmission of natural gas for the territory of the Republic of Bulgaria. With a decision of the Energy and Water Regulatory Commission (EWRC) published today, the project company, which is responsible for the implementation of the Greece-Bulgaria interconnector, will be able to perform the activity of natural gas transmission for a period of 35 years.
A similar decision for a 50-year period is expected to be issued by the Greek energy regulator RAE. Licensing is a key step towards the preparation of the interconnector with Greece for the operational phase and is a confirmation that ICGB is resource-wise, technically and financially prepared for the gas transmission.
The successful licensing of the project company in Bulgaria marks an extremely important stage in the overall regulatory preparation of the IGB project. Acquisition of this natural gas transmission license is a mandatory step before initiating the procedure for certification of the company as an independent natural gas transmission operator - a process that ends with the approval of the national energy regulators of Bulgaria and Greece and the European Commission. The future decision for certification will act as a guarantee that ICGB is able to form independent market behavior in the name of free competition.
"With the successful licensing of the project company the necessary conditions are being created so that we can move forward with the certification of ICGB as an independent natural gas transmission operator. But more importantly, these are all key steps through which the project consistently moves forward and prepares for the operational phase. We rely on the active institutional support from the national governments of Bulgaria and Greece so that in the shortest possible time the project can be put into commercial operation, which can happen only after the successful completion of the certification procedure”, said ICGB Executive Officers Teodora Georgieva and Konstantinos Karayannakos.
Work on the construction of the Greece-Bulgaria interconnector and the implementation of the main construction activities are progressing at a good pace; the welding activities are completed at 96%. Over 145 km of the 182-kilometer route are now ready and lowered in the trench.
IGB is of key importance for increasing security of supply and for ensuring diversification of natural gas sources for Bulgaria and for the region of Southeast Europe.
For more information:
Action Global Communications Bulgaria
+359 885 074 422
+359 885 614 131