ICGB utilizes first EUR 30 million in EIB loan for the realization of the Gas Interconnector Greece-Bulgaria
The project company ICGB which is responsible for the implementation of the Greece-Bulgaria gas interconnector, has successfully utilized the first tranche of the loan financing from the European Investment Bank (EIB). The total value of EIB financing for the purposes of the project amounts to EUR 110 million, which is secured by a guarantee from the Bulgarian state.
All key activities for the implementation of the interconnector Greece - Bulgaria are progressing on the territory of both countries
The Executive Officers of ICGB inspected the progress of the construction activities on site of the interconnector Greece - Bulgaria and held an operational meeting with the EPC contractor.
The Bulgarian parliament approved the tax regime of the interconnector with Greece for a period of 25 years
The Energy Committee at the National Assembly approved the bill for the Ratification of the Intergovernmental Agreement between the Republic of Bulgaria and the Hellenic Republic regarding the project for the construction of the gas interconnector between Greece and Bulgaria (the IGB gas pipeline).
Over 70 km of line pipes for the interconnector Greece-Bulgaria have been delivered
Over 70 km of line pipes intended for the construction of the Greece-Bulgaria gas interconnector have already been delivered on the territory of the two countries, with active work underway for clearing the route and stringing. The pipe stringing on Bulgarian territory reached 7 km. As of the beginning of May, line pipe welding activities have also been progressing. Currently, 50 manual welding procedures have been completed. Automatic welding is expected to start soon as well. The non-destructive testing of the welded connections has already begun. About 50 km of the land along the route of the IGB project has been cleared, with 35 km on the territory of Bulgaria, and the rest - on the territory of Greece.
ICGB completed the procedure for selection of a leading insurer for the gas interconnector with Greece
The project company ICGB AD successfully completed the tender for the selection of the leading insurer for the project "Gas Interconnector Greece - Bulgaria". The UK based company AIG UK has been selected as contractor after a two-step procedure.
ICGB is taking measures for the safety of its staff members in light of COVID-19
In regard to the situation with the spread of COVID-19, ICGB is taking further action to minimize the risk for its employees in full compliance with the recommendations of WHO and the responsible authorities’ instructions.
47 km line pipes for the interconnector Greece-Bulgaria are now produced
The Greek company Corinth Pipeworks has already completed the production of 47 km line pipes for the route of the Greece-Bulgaria gas interconnector. The first batch consists of 32-inch in diameter line pipes with external three-layer polyethylene coating. Its delivery is scheduled for the first week of February as the pipes will be transported to storage bases along the IGB route in both Greece and Bulgaria. Thanks to the excellent cooperation of all stakeholders, construction work is progressing, and the project is moving forward according to plan.
The implementation of the LNG terminal near Alexandroupolis will help fill IGB’s capacity
The successful implementation of the project for a liquefied natural gas terminal near the Greek city of Alexandroupolis is of particular importance for the IGB project, as it will create more opportunities for gas transmission through the Greece-Bulgaria interconnector. The two energy projects are being developed in full synergy, relying on the active support of both Bulgaria and Greece.
ICGB renewed its participation in the Memorandum of Understanding on the implementation of the Vertical Gas Corridor with companies from 3 countries
Representatives of Bulgartransgaz EAD (Bulgaria), ICGB AD (Bulgaria), DESFA S.A. (Greece), FGSZ LTD (Hungary) and SNTGN TRANSGAZ S.A. (Romania) signed a renewal of the Memorandum of Understanding on the implementation of the Vertical Gas Corridor. The meeting was held in Brussels and the Memorandum was signed in the presence of Klaus-Dieter Borchardt, Director of the Directorate-General for Energy at the European Commission. He expressed his support for energy connectivity in the region and the development of energy supply opportunities through new initiatives.
SAC has definitively rejected the appeal against ICGB for the procedure for manufacture and supply of line pipes for the gas interconnector with Greece
The ruling of the court confirms that the procedure for selecting a contractor for one of the key public contracts for the construction of the Greece-Bulgaria interconnector is lawful and complies with the Bulgarian legislation.
Gas Interconnector Greece-Bulgaria is co-financed by the European Union's
European Energy Programme for Recovery programme.
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